Tips to adding value to your home
WHETHER adding a new room to your house or giving it a new coat of paint, renovations can add huge value to your property. The entrance, which often sets the tone for the rest of the house, and the state of the kitchen and bathroom can impact a potential buyer’s decision.
This is according to Vivienne Cox, ooba’s Regional Sales Manager, who says renovating the inside of your home can add value, but it needs to be functional.
She says that revamping the outside can also help sell homes faster. “If you are hoping to make a significant return when selling your home, make sure that the exterior is on par with the rest of the neighbourhood by making minor improvements to create maximum appeal.”
When planning a renovation project, the first step is to check the value of the homes in the area to give you a good feel of your home’s value and how much you should spend on the upgrade.
“The last thing you want to do is overinvest or price your home out of the neighbourhood,” she says.
Furthermore, if you are renovating to sell and apply for a new home loan, Cox recommends that you get prequalified first. “Ask a Prequalification Expert to give you an indication of what the bond and registration fees will be.”
Start by making two lists — upgrades for your home value and upgrades just for you. Upgrades for your home may consist of replacing old faucets, permanent lighting and doors.
Upgrades for you are furniture, artwork and window treatments. Gone is the dartboard approach to picking projects and wondering if what you are doing is really making a difference. With this plan, you will see real progress.
If you have spent a bundle on making an upgrade you can make small changes for the next couple of months. Upgrade a couple of electric plugs or buy a small lamp. Stick to one upgrade per month and you will be happy with what you see.
Cox, who recently successfully renovated her own home, provides smart tips on how to make sound financial decisions when renovating your home to increase its resale value:
Tip 1: Enhance the aesthetic ap
peal The most effective way to improve your kitchen is to paint old cupboards, or to simply replace the doors and add new modern handles.
This will give it an instant facelift.
Tip 2: Replace anything that is
outdated Install flattering lighting in your bathroom and replace old or outdated taps, basins and toilet seats. Re-glaze the bathtub instead of replacing it to save on costs.
Tip 3: Redo the floors Replace old carpets with laminated flooring or tiles, as this instantly
adds a modern spin to your home.
Tip 4: Use good quality paint Repaint your home in soft, light and neutral colours to create the illusion of space; this will in turn give the home a well-maintained feel.
Also ensure that you use good quality paint to achieve a polished finish. Pay special attention to detail, and repaint anything that is looking tired, including gutters, fascia boards, balustrades and gates.
Tip 5: Invest in your garden A well-manicured garden won’t necessarily increase the value of your home, but the beauty of a hasslefree, green lawn is attractive to home buyers.
Tip 6: Change the light switch
es Often, it’s the details that count and standard white light switches tend to look yellow over time. Getting an electrician to replace them isn’t a costly exercise and you can often pick up everything you need at a big hardware store, so the major cost will be labour. Many brands make coloured or metal switch plates, but consider the fact switches tend to be utilitarian items that don’t need to be made a feature of.
Tip 5: Revamp the entrance First impressions count, particularly if you’re about to put your house on the market. By painting the front door in a strong colour, such as red or blue, updating doorway furniture and the entrance mat, you’re sending a message that your home is upto-date and well maintained before anyone even crosses the threshold.
Give the area around the entrance the once-over by cleaning the path, removing cobwebs and trimming plants. Check the letterbox isn’t shabby and fix any loose pavers or fence palings.
Tip 5: Groom the garden Winter is the perfect time to pull on the garden gloves and get stuck into the back yard. After a general tidy up, look at any gaps in planting that need to be dealt with. If you’re putting the house up for sale, gather reasonably established potted plants to fill up these holes as you can take them with you when you go.
Get hold of a high-pressure hose and give paths and paintwork the once-over. Clean the barbecue and give outdoor furniture a scrub and, if needed, an oil, as spring is just around the corner. — Property24
The most effective way to improve your kitchen is to paint old cupboards, or to simply replace the doors and add new modern handles.