Irrespective of its size or shape, a property can always be viewed as an investment. Adding value to that investment is important but not all additions or improvements to a property add direct or even tangible value.
“Don’t assume that because you spent R400 000 on a kitchen renovation the property is immediately worth R400 000 more. Sometimes it can be the case, but mostly there are a number of other factors, including location, overall state of the property and prevailing market conditions, that ultimately determine the value - or more accurately - what a buyer in prepared to pay for the property,” says Johan van Schalkwyk, Principal at Leapfrog Roodepoort.
Consider what does add value:
Kerb appeal
Kerb appeal is a vastly under-rated part of the property value equation, Van Schalkwyk believes. Kerb appeal refers to the general attractiveness of a property when viewed from the street - simply, what it looks like from the outside.
A property that’s well maintained on the outside makes a good first impression, which immediately adds value in the mind of the prospective buyers.
To this end, Van Schalkwyk recommends prioritising the upkeep of the property’s exterior as part of routine maintenance. “Paint the exterior, keep the garden clean and tidy, create an interesting entry point like a pathway to the front door as these are all additions that add real value.”
READ: 3 budget-friendly ways to up your home’s kerb appeal
Mike Greeff chief executive of Greeff Christie’s International Real Estate, previously shared on 30 Jan 2020, creating a memorable entrance does not only boost kerb appeal but it will also be advantageous when you want to sell.”
As expensive as things are these days, sprucing up the entrance to your home does not need to cost an arm and a leg - all you need is some creative inspiration and a bit of DIY.
Greeff offers the following tips:
1. Show them the way
One of the most underrated yet most efficient ways to improve your kerb appeal is by laying down a clearly marked footpath.
It is essential that when you design and build your path, you get the width correct - more often than not, pathways can be too narrow, so ensure that you leave enough room for two people to walk side by side.
There are various kinds of walkways, just choose what suits your home best. If you’re stumped on which design to go with, here are a few ideas:
- Stepping stone walkways
- Flagstone walkways
- Brick walkways
- Gravel walkways
- Keep it clear
Trim down overgrown trees and bushes that block the view of your home and walkways. Instead of having plantings spilling over, opt for flowers and plants that you can grow inside quaint-looking containers. These are easy to maintain, easy to re-arrange and the bonus is they do not block the view of your home.
Tip: Install low-cost, low voltage outdoor lighting. This not only adds to the safety and security of the home, but it also adds accent lighting to the house and can illuminate the pathway.
2. A popping point of entry
Having a door that stands out from the rest of the house is a definite wow-factor. Adding a punch of colour to your door is a quick, easy and inexpensive way to revamp a tired-looking entry. A bold, colourful door also sets your house apart from the rest and makes it easy to find, which is a bonus. If guests can find your home easily, it’s already a memorable experience.
People often pick colours for their front door that they wouldn't pick for their interior walls and it’s where many homeowners feel they have a little more freedom to “go wilder with colour”.
If you need some inspiration, Greeff says here are a few colour guidelines:
Bright and bold: If you want to have a statement front door, choose vibrant colours like pink, turquoise, red or yellow. These colours create a stunning entrance to your home and will even brighten up the greyest of days.
Neutrals and greys: If you're not feeling quite that adventurous and would prefer to play things safe then opt for your favourite variation of grey, black or green. These colours albeit subtle, are classic, sophisticated and timeless.
3. Replace the hardware
It’s time to toss out all your dingy and outdated hardware, for example, house number, overhead lighting and mailbox. These are just a few elements that can add style and interest to your home's exterior kerb appeal and if they are tatty and rusted, it may not be conveying the aesthetic you would like.
READ: 3 sustainable features to add to your house hunting checklist
Alternative energy
South Africa’s energy woes are far from over, and with loadshedding set to be in place for a while still, properties with a solar system are increasingly in demand.
“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,” Van Schalkwyk says.
Beyond it being a solution to a current problem, investing in a renewable energy system for the home is also a sound environmental decision, in line with international trends and best practices.
Kitchens and bathrooms
‘Kitchens and bathrooms sell homes’ is the refrain of many property professionals. “This is because it is true!” Van Schalkwyk says. Both are high-use, personal spaces that people want to feel comfortable in. In many contemporary homes, particularly open-plan houses, the kitchen is a focal point and a popular gathering place and thus a key consideration for a potential buyer. Bathrooms, on the other hand, may not be a social space but an old, outdated one can easily create the impression of being impractical or even grimy.
READ: 5 ways to save money on kitchen and bathroom renovations
“The short of it is that kitchen and bathroom updates definitely add value to a property. The extent of the value will depend on the nature of the renovations and will still be relative to the value of the property in relation to the market,” Van Schalkwyk shares.
READ: Refresh your living room with these budget-friendly tips
Clean and clutter-free
The last, surprisingly important, thing that adds value to a property is simply the way it looks and feels to potential buyers on show day. A property that is clean, clutter-free and inviting is one with a better chance of making an emotional impression on a buyer, which influences them to view the space in a positive light.
Property professionals often recommend that sellers spend some time staging their property before showing it to buyers.
The staging process can be as simple or elaborate as you choose, but involves styling it to make it appealing to others. It could mean rearranging furniture, fixing superficial defects (a good idea anyway), removing clutter from sight, or simply opening the curtains to allow natural light in or arranging flowers on a table near the entrance.
READ: Tips for clearing clutter, especially if you are selling
“When people like the look and feel of a place with the first impression, they almost immediately regard it as a property that offers great value. It’s something we see nearly every day,” Van Schalkwyk says.
It pays to remember Warren Buffett’s famous quote “Price is what you pay. Value is what you get”. Value can be subjective and mean different things to different buyers. A trusted property advisor can offer advice and guidance on the additions that add value to a property and that has the biggest impact on price when the property goes on the market.
Want all the latest property news and curated hot property listings sent directly to your inbox? Register for Property24’s Hot Properties, Lifestyle and Weekly Property Trends newsletters or follow us on Twitter, Instagram or Facebook.
Print
