Adding value to your home is a subjective topic, says Francois Venter, Director of Jawitz Properties, but there are a few guidelines you can follow that can help.
“Think of your home as you did when you first saw it as a buyer. The same elements that attracted you are likely to attract the next buyer, just as the same features that seemed like drawbacks to you are likely to seem like drawbacks to others as well. Use this information to help determine any improvements that could be made,” says Venter.
While your home is personal to you, the space must be adaptable to future buyers in order for it to sell well. A good place to start is to look at other homes in your area, as this can tell you a lot about what you could do to boost the value of your property.
“When weighing up whether or not to renovate, consider potential buyers. Who would want to move in and what they would be looking for?” says Venter. “If you live in an area that is popular with families, perhaps add on a room, and definitely keep the double garage. If you live in a block of flats in the CBD, a family-adapted layout might not be necessary.”
In deciding if a renovation would be worth your while financially, take into account the present value of your home and if you would be able to make a profit on any renovations you do. Kitchen and bathroom renovations and the addition of a swimming pool are usually good investments, particularly over the long-term.
If, however, you are looking to sell your home sometime in the near future, it is best to focus on cosmetic upgrades to your property, rather than full renovations. Consider re-painting or re-carpeting for example.
“There are certain elements that always add value to any home,” says Venter. “Incorporate quality fittings such as good taps, doorknobs and light switches, and remember attractive lighting is always an advantage.”
As far as the colour palette goes, Venter advises sticking to neutral colours on the walls and floors, particularly in the kitchen and bathroom. “Beware of over-personalising your space, neutral colours sell well and create a blank canvas of sorts, which will be favourable with future buyers.”
“Carpeting is best in bedrooms, with tiled or wooden floors in your living and dining rooms, and a well-maintained garden always adds appeal,” says Venter.
Other aspects to consider include adding ‘green’ elements to your home such as solar power or grey water systems, as well as adding sufficient security.