How to increase your house’s value:
[an Extract from an Article by: Kirsten Minnaar in DAILY INVESTOR – 22 December 2024]
While many homeowners want to increase the value of their property, either to boost its appeal on the retail market or simply to add to their enjoyment, it is crucial to focus on the right areas.
This is because not all upgrades or additions deliver a direct financial return when looking at a house’s value.
Johan van Schalkwyk, Principal at Leapfrog Roodepoort, said that determining property value is multifaceted.
“Don’t assume that because you spent R400,000 on a kitchen renovation, the property is immediately worth R400,000 more,” he said.
“Sometimes it can be the case, but mostly there are a number of other factors, including location, the overall state of the property and prevailing market conditions, that ultimately determine the value – or more accurately – what a buyer is prepared to pay for the property,”
For many homeowners, their property is their most valuable asset, which means that upgrades should be made strategically to get the highest possible return on investment.
Understanding what truly adds value is key. Below are expert-backed strategies for effectively increasing your property’s worth.
Van Schalkwyk provided an overview of a few key factors to consider when starting to make improvements to your house to increase its value.
Kerb appeal
The concept of kerb appeal – how attractive a property looks from the street – is often overlooked but plays a significant role in property valuation.
A well-maintained exterior fosters positive first impressions, immediately elevating a home’s perceived value…
Renewable energy
incorporating alternative energy solutions, particularly solar systems, has become a substantial selling point in today’s real estate market.
“Buyers view a solar system as a significant value-add and, depending on the size and nature of the system, are willing to pay more for a property that boasts this almost-essential feature…
Kitchens and bathrooms
It’s often said that kitchens and bathrooms sell homes – and for good reason. These spaces are highly personal and functional, making them a focal point for potential buyers.
In modern homes, open-plan kitchens often serve as communal spaces, while bathrooms, though private, can leave lasting impressions based on their condition…
Staging
How a home looks and feels during a viewing can significantly impact buyers’ perceptions.
Effective staging tips include:
- Decluttering: Remove excess items to make rooms appear more spacious. Organised storage spaces convey that the home has ample room.
- Depersonalising: Replace personal items like family photos and bold art pieces with neutral decor to help buyers envision themselves living there.
- Enhancing lighting: Open curtains to allow natural light in and use mirrors to create the illusion of larger spaces.
- Strategic staging often involves small changes with big impacts, such as adding fresh flowers, repainting walls in neutral tones, or rearranging furniture to optimise flow.
Routine maintenance
One of the simplest yet most effective ways to preserve and enhance property value is through regular maintenance. Neglected issues like peeling paint, leaky taps, or cracked windows can give the impression of a poorly cared-for home…
Adding the finishing touches
Subtle decor updates can breathe new life into a home. According to top interior designers and Tyson Properties agents, this includes things like:
- Soft furnishings: Fresh bed linens, stylish throws, and scatter cushions can add warmth and elegance.
- Outdoor spaces: A tidy garden, clean pool area, and colourful potted plants create inviting outdoor environments.
- Neutral palettes: Painting walls and furniture in neutral tones ensures broad appeal, as bold colours can polarise buyers.
The Original, Full Article can be viewed here: Link: → https://dailyinvestor.com/property/70735/how-to-increase-your-houses-value/