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We chat with Ronel du Plooy, an experienced and accomplished Leadhome Properties estate agent for Kempton Park. We ask Ronel to weigh in on this topic. Take a listen.
Think like a buyer
As a savvy homeowner, are you continuously evaluating ways to add value to your home, so as to realise the highest return on your investment when you decide to sell it in 5 – 10 years? Here at Leadhome Properties, our experienced estate agents will tell you that upgrades tend to fall into two categories – those that add value to a property – and those that while they are nice to have – just don’t.
Start by thinking like a potential buyer. View your home critically to identify areas in need of attention. Then gradually implement the work in your home.
Over-capitalising is when the total amount you have spent on your home, including the purchase price and the cost of improvements, exceeds the amount the property could be sold for in the future. Remember that most neighbourhoods have a ceiling value which is the threshold that buyers or renters are willing to pay.
Improvements likely to add value to your home
- Updating the kitchen and bathroom
- Increasing floor space or adding accommodation i.e. a cottage (Submit plans to obtain council approval prior to commencing building.)
- Open plan living
- Energy-saving features (Solar geysers, solar panels)
- Fitting a borehole
- Painting in a neutral palette (white, cream, stone, caramel)
- Installing modern flooring surfaces
- Paved driveway
Those that don’t
- Swimming pool
- Outdoor entertainment area
Ronel du Plooy Leadhome Properties Real Estate Agent for Kempton Park.
For more valuable property-related advice, insights and information, please visit leadhome.co.za