Buying property is often the biggest investment you will ever make, so naturally you want to look after it as best you can. Keeping your home maintenance up to date is one way to ensure the value of your home doesn’t drop, but what can you do to get the most out of your investment? Here are 5 things you can do to increase the value of your home:
Keep the heart healthy
The kitchen is often called the “heart of the home”, and has become a focal point in many homes as open plan layouts become the norm. They have brought the kitchen front and centre, making them a make or break selling point for many people.
Kitchen upgrades come in various shapes and sizes, from the cosmetic to a full renovation. Deciding which to do will often depend on the current condition and the available budget. If your kitchen is a bad way and you have the financial ability to do a full make-over, starting from scratch gives you the chance to really make a statement.
However, if you’re looking for a quick cosmetic fix, simply replacing cupboard doors, matching appliances and adding modern touches like new splash back tiles can immediately add a “wow factor” at minimal cost.
A fresh, modern-looking kitchen will always get buyers interested and is definitely worth the initial investment, regardless of when you look to sell.
And we don’t mean the colour! Green, or eco-friendly, houses have steadily become common place as more and more of us look to reduce our impact on the earth. Like any home improvement, there are different degrees you could go to in order to make your home as eco-friendly as possible.
At one end of the spectrum there are a bunch of options to get your home completely “off-grid”, but for most of us that simply isn’t an option.
On a more mainsteam level, you could start by putting in place measures to reduce water and electrical consumption. Installing a gas stove, solar powered geyser or replacing your existing insulation with a modern high-performance variety can often cut bills in half.
While, on the water front, options like grey-water capture systems, low-water use toilets, and the installation of a borehole or well point can also vastly reduce your monthly costs.
These kind of additions can be expensive to do upfront, but will make back the investment over time. They also make your home more attractive to buyers looking for move-in ready homes, and can add significant value to your home.
Bath time bliss
No one likes traffic, especially first thing in the morning. Queuing to use the bathroom is a problem many of us have to deal with, and one very few of us enjoy!
One of the easiest ways to add value to your home, and make it a more attractive option for buyers, is to add an extra bathroom. If possible, aim to create an en suite bathroom in the main bedroom, eliminating the need for both kids and parents to line up in the morning for the same sink.
If an en suite is out of the question, you could consider a quick and easy revamp of your existing bathroom. New tiles, mixers and one of those amazing hotel-like rain shower heads can go a long way to giving your existing bathroom a new lease on life.
Looking good, outside and in
While it’s easy to get caught up changing the inside of your home, never forget that first impressions count. Curb appeal, as they call it in the States, should not be ignored.
If your home has an expansive front garden, getting a quick landscaping makeover might be just the trick to entice buyers through the front door. Backyards might be the last thing people see, but they can definitely add a wow-factor to your home.
Outdoor entertaining is something all South Africans enjoy, so having a well-looked after and considered outside area is a huge selling point. Building a pool, whether it’s a big one or a small one, also adds to the value of your home. If a pool is out of the question, a simple designated entertaining area with decent shade and a place for socialising is an easy, quick value-add for any home.
Extending your value
Building on an extra bedroom or living room is a tried and tested method of adding value to your home.
If you have the space to add on an extra room to your home, any building costs you incur will be recouped when you sell on. However, always bear in mind your area and property size. It is very easy to over-develop a home, creating a less desirable property than before.
For example, a small 3 bedroom home on a moderate-sized erf is the perfect starter home for a young family or a first time buyer. Adding a fourth bedroom, or second living room onto that property could swallow what little outdoor space you might have, or push the home’s asking price up to the point where you effectively price out the majority of buyers.
This could leave you needing to make further changes to get your home in line with the type of buyer who would be interested, or leave the property on the market for a lengthy time. Both of which could hurt the value of your property.