Renovations that Add Value
Category Homeowners Guide
When it comes to homeownership, you may find yourself contemplating how you can visually or practically enhance your property while also boosting the market value thereof! Whether you're planning to sell in the future, or it's just time to invest wisely in your property, home renovations offer an excellent opportunity to transform your property and increase its market value.
So, your question may be "I want to renovate my home but what will give me the most bang for my buck?"
Having an idea of what adds value to a home is the start to choosing what renovation may be best for you, considering your time and your budget, of course.
Firstly, let's look at what Property Practitioners look for when assessing the market value of a property:
- The condition of the home in general
- The age of the home
- The location
- The exterior of the home
- The design of the home
- The size of the home
- The home's interior
- Any home improvements
- Any signs of water damage
- Any signs of infestation
- Safety features
Secondly, it may be wise to employ the services of a professional Real Estate Agent (also known as Property Practitioner) in your area to provide you with a market related assessment. Real Estate Agents have a multitude of resources at their fingertips to provide you with valuable and insightful information, and the team at Louw & Coetzee Properties is ready to assist. Getting a market related assessment of your property will benefit you now, and if/when you sell in the future.
Amanda Pretorius, one of our top Real Estate Agents, has over 30 years of industry experience. She is a wealth of knowledge when it comes to home renovations, and she truly believes that "it's the small detail that makes a huge difference."
With that in mind, let's go through a few tips that Amanda suggests to her clients, including items that are a priority to buyers in the current market:
1. Next-level internet connectivity
Irrespective of the age of the buyer, connectivity is a must for everywhere in the house, even in the garden.
2. Less dependence on the "grid"
Inverters and solar installations could add 3-4% more value to your home.
3. Independent workspace
Working from home full-time or hybrid has become a norm. A dedicated workspace is important.
4. Great indoor-outdoor flow for entertainment
And of course, for us South Africans, a built-in braai!
5. Aesthetically pleasing security options
Opt for aesthetically pleasing transparent security window barriers fitted with Smart Bar technology; American shutter-type security blinds that double up as window coverings; security beams; an alarm system or even CCTV - depending on your budget.
Now it's time to plan!
Start by Planning
Mood boards. Designing a mood board before the renovation may just be one of the best ways to avoid making costly mistakes and will save you tons of money.
A mood board is a compilation of images, text, and samples of products/materials used to visually display a theme, such as the interior design, of a project or home renovation.
Often, paint colours, tiles, or even curtains that have been chosen for a home don't necessarily work together when materializing in the home. By planning ahead, a homeowner will get a better idea of what works together, and what doesn't.
Remember to keep a list of all your supplies, names of tiles, wood flooring, and paint colours, as well as if the paint is matte or sheen. It may be worthwhile to buy extra material (attic stock) in case of tiles chipping. Keep in mind that the product may not be stocked in future, therefore it is a good idea to have material readily available for future fixes when you order the first load.
The Façade and Garden
First impressions begin at curb appeal. Your garden, especially your front garden, should add value and appeal. Amanda says that "by attending to neatening the edges of the lawns, cleaning the flower beds and removing dead branches and weeds, it will already be more appealing!"
The same goes with the façade of the house, fix any broken windows, doors, or gates, and if it is necessary to paint a fresh coat on the exterior, do it.
Adding Square Meterage
It may go without saying, but if you have the funds to extend your home, and add usable square meterage, then go for it. Adding space in the form of a new bedroom, bathroom, or living area will add value to your home.
Using your budget to add on a garage and allowing direct access to the house will increase the value of your house. Buyers today, and future buyers, will want convenience when purchasing your property.
According to Amanda, "Utilising previously unused space in your home, due to poor layout or design, could change that neglected room into an income producing flatlet; study or guest suite."
Creating Open-Concept Layouts
The Property Practitioner will take comparative house sales into consideration when valuating your home. A more modern and open-plan home could be valued higher than an outdated home with walls everywhere. Due to a purchaser having to factor in the cost of renovating after they buy, the offering price will be pulled down. It is no secret that more buyers are looking for open-plan layouts, therefore, if you can knock a wall down and create a better flow between the kitchen and living areas, it should be considered.
Renovating for the Best ROI
It should be said that renovating kitchens and bathrooms have been proven to attract the most return on investment for homeowners and sellers.
A timeless, well-functioning kitchen with all the bells and whistles, such as storage, water connection points and abundant prep space, will increase the value of your home.
Built-in cupboards are a great value-add, and old cupboards can be modernised in a cost-effective manner. If the shells of the cupboards are in good condition, then only replacing a few doors, drawer fronts and handles, or painting it a fresh colour, will make a huge difference.
When it comes to bathrooms, it may be time to ditch the yellow basin from the 1950's. The same goes as in the kitchen, if a bathroom is timeless, meaning the colours are neutral, and the fittings are sleek, it will look good for years to come and add value to your home.
Keep Low Maintenance in Mind
Generally, buyers these days are looking for low maintenance features in a home. This does not necessarily mean having a garden that is the size of a peanut. Low-maintenance means installing aluminium window frames, instead of wooden ones, and installing durable flooring that will stand the test of time.
Fixing Cosmetic Defects
Major renovations aren't the only way to add value to your home. Fixing or replacing cracked basins and tiles, repairing cracks in the wall and waterproofing and sealing walls and ceilings instantly improve the condition of the home. And while you're at it, add a fresh coat of paint to freshen up the space. The general condition of a home is important, and if it looks well looked after, the chances of a buyer putting a reasonable, or higher, offer on the home are more likely.
Lighting is also a big way to revitalise a room and elevate the design, but keep in mind that buyers these days are looking for energy efficient lighting. And, if you're still going to be staying for a while, these upgrades will help save on your electricity bill.
Energy Efficiency & Eco-Friendliness
That takes us to energy efficiency and eco-friendly aspects of a home. As a homeowner, you should consider replacing old appliances that are stealing tons of electricity. Rather bring in an A+ rated fridge or washing machine. Even if these appliances won't be sold with the home, they will save you on your bills now.
If the time has come to replace your electric hob, it would be a good idea to consider a gas hob. A gas option is a highly sought-after feature with the current loadshedding schedule.
Consider a gas geyser or solar geyser, instead of an electrical one. If your toilet was installed pre-2000's and it uses more than 10L of water per flush, it may be time to change it. Toilets made today should use a max of 5L per flush.
Ensure all Renovations are Compliant
When hiring a supplier or doing the work yourself, care should be taken to ensure that all changes, updates, and renovations are up to code and compliant with the building, electrical, plumbing, and other regulations.
These regulations are for the safety of the homeowner, and if not up to code, your house will most definitely be valued for less and may cause legal and compliance issues during the sales and transfer process.
Amanda adds that homeowners should "get 3 quotations and ask for references! Do not pay deposits that are unreasonably high!"
Get Your Plans Approved
Amanda stresses the importance of plans: "When planning to do any structural changes, or adding a room to your home, it is advisable to consult an architect or draughtsman to advise you on what is doable, allowed by Council, and the best way to do the envisaged renovations. This would not only ensure that you are legally compliant with the plans but would also save you a lot of money in avoiding making costly mistakes while adding value to your home."
It may be a daunting task to renovate your property. Therefore, it is always helpful to generously research before you start, as well as plan, plan, and plan again. Ensure you employ the services of professionals and trusted suppliers to help you in your renovation journey.
If you need assistance in receiving a market related assessment and advice on what renovations to add, contact our office on 021 976 3180.
We wish you a happy renovation!
Written by: Hayley Kellerman
Author: Louw & Coetzee Properties
