5 top renovations to consider:
The kitchen is the beating heart of the home, with a few basic improvements to this room can really pay off. Consider including energy efficient appliances, stainless steel, new counter tops, a new sink, a coat of paint and new flooring. Cupboards can also be sanded, stained, painted or replaced if necessary. Where possible a classic design and neutral paint tones are best as these will appeal to a broader range of people. A well renovated kitchen can recoup up to 82% of the renovation cost when you re sell.
Bathrooms are also known to give the best boost in value, Consider new fixtures including a bath tub, a double sink instead of a single one, recessed lighting, new flooring and wall tiles if necessary and a fresh coat of paint.
We recommend only using Cobra high-end quality kitchen and bathroom taps, mixers and accessories for your home or business.
3. Creating space
As a rule, improvements that increase the functional space of a home hold their value longer than ones that just make a house look better. This option is also often significantly cheaper and less of a hassle than adding a completely new room to your home.
4. Security, windows and green products
With increases in electricity and a generally higher cost of living, utility bill savings are a big advantage, and so it stands to reason that shrewd energy-efficient improvements can add to the resale value of a home. Efficient windows and doors, a new roof and perhaps maybe even solar panels may be pricey to install, but around 65% to 76% of this cost could be recovered at resale. Security features are also always an important consideration in the home buying process, and many South African homeowners will appreciate a strong security system in a home.
5. Basic Improvements
The basics are always more important than fancy new fittings and fixtures. A beautiful new kitchen and bathroom will add no value if the roof is leaking or rising damp is a problem, for example. It is the basic improvements that will provide the greatest return on a home’s value. Homeowners who are considering selling in the next year or so need to start any home improvements by tackling problems with the home’s structure or systems such as the plumbing before installing a Jacuzzi, for example.
Goslett says that there are also some home improvements and additions that are nice to have, but that add very little value to a home’s selling price. These are:
While nice to have and a great facility for many homeowners, a swimming pool adds no value to a resale price at all. In fact, some home buyers spend thousands of rand to fill in a pool after purchasing a property. Expensive upkeep and the fear of liability mean that for some, the responsibility of a swimming pool will detract from a property more than add to its value.
Manicured gardens which will require time and money to keep looking good usually won’t add to the selling price. With today’s hectic lifestyle, many homeowners are looking for hassle-free and low-maintenance homes. While landscaped gardens certainly add appeal to any home, when it comes time to sell a property, a garden is not going to add to the price tag, and should rather be considered as investment for the owners’ enjoyment. The same goes for expensive fences and stone walls. They look nice, but buyers don’t pay up for them.
If you wanting to undertake a home improvement project you should be careful to keep within the limits of the neighborhood or body corporate rules.
“Adding features such as a home theater, pool table, sauna or built-in bars are great projects if you are planning on staying in your home for a long time and are not too concerned about the resale value.
The best point of reference to determine your ceiling is when it comes to renovating is to consult your Shelly Beach / Margate estate agency about property prices on the KZN South Coast .”