Please note that you are using an outdated version of Internet Explorer which is not compatible with some elements of the site. We strongly urge you to update to a newer version for optimal browsing experience.

Up your property value: 4 easy-on-the-pocket DIY projects

20 Dec 2016

For the majority of people, buying property is the largest financial commitment they will ever make, and it is also a long-term one considering that homeowners will often only realise returns on their investment after five years or more.

“When it comes to owning property, there is always something that requires maintenance or attention. The holiday period is the ideal time to tackle what needs to be done and help improve the value of your asset,” he says.

According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, a home’s investment potential and the time it takes to realise a growth in value depends on several aspects such as market conditions during the period that the property was bought and sold, the home’s location, and the size and type of property. However, homeowners also have a vital part to play in ensuring that the home is well-maintained and kept in a good condition.

“Knowing that it is such a large financial investment, it would make sense for homeowners to consistently maintain and improve their home to ensure that the investment is protected and grows in value.

“However, that said, it is also important that homeowners don’t spend too much on home improvements and upgrades, overcapitalising and eating into the possible equity built up in the property,” says Goslett.

Ideally, he says, home maintenance should be kept up throughout the year, but time constraints can be an issue for many who are office bound for a large portion of their day. The holiday season is a great time for homeowners to undertake maintenance and improvement projects around the house.

Security elements add value to a property and increase buyer appeal. With many people going away for the holidays and leaving their homes vulnerable, it is vital to ensure that the home’s security is up to standard and working as it should.

“Irrespective of whether people are going away on holiday or staying home, December is usually the time of year when people are less busy and are able to find some extra time to attend to home maintenance projects. Many people also receive bonuses during this time of year, which makes it easier to take on some of the bigger projects they have put aside until now,” he says.

Goslett provides a few projects that homeowners can undertake to spruce up their home and have it looking great:

1. A fresh coat of paint

Whether on the exterior or interior of the home, a new coat of paint can refresh a home’s look and give it a complete facelift. Changing the colour of a room can give it a completely different look and will revitalise the space.

Goslett suggests that sticking to neutral colours, particularly for the exterior of the home is best. While vibrant colour palettes can be visually interesting, they could possibly limit the home’s appeal with potential buyers.

2. Landscape and add water-wise elements to the garden

A manicured garden is always appealing to the homeowner while they live in the home and potential buyers; however, water restrictions make it difficult to maintain lush lawns and plants.

Whether on the exterior or interior of the home, a new coat of paint can refresh a home’s look and give it a complete facelift.

Adding paving or hardscaping elements, such as a stone walkway, will reduce water consumption while adding to the aesthetic appeal of the home’s exterior. The lie of land may influence the placement of hardscaping features, particularly if drainage is affected, and water features should be in shaded areas to reduce evaporation.

Goslett says when sprucing up the garden, ensure that only indigenous plants are used as they consume very little water and require minimal maintenance. Certain bedding plants can consume a lot of water, however, by adding mulching to the bed and water retention granules to the soil, the need for water can be substantially reduced.

3. Get rid of the clutter

During the festive season, there are a number of non-profit organisations that will be collecting items for the underprivileged. This is a great opportunity for homeowners to clear out some of their clutter while aiding a worthy cause. A decluttered home will feel more spacious and will be easier to clean and maintain.

Areas in the home such as the garage and tool shed usually tend to collect unwanted or unused possessions. While decluttering, go through these areas and get rid of items you know you no longer need. Rather let someone else get the benefit of using them than have them take up potentially valuable storage space.

4. Perimeter and security upgrade

Goslett says when sprucing up the garden, ensure that only indigenous plants are used as they consume very little water and require minimal maintenance.

Whether they are motorised or not, entrance to the property and the security gates will require some maintenance, even if it is just a coat of paint and oil on the hinges. Other aspects to check would be the intercom system to ensure that it is working correctly.

Security elements add value to a property and increase buyer appeal. With many people going away for the holidays and leaving their homes vulnerable, it is vital to ensure that the home’s security is up to standard and working as it should. The homeowner will need to assess whether their current system is sufficient or if additional security measures are required.

Depending on the homeowner’s maintenance and improvement requirements, Goslett says there are several different projects that homeowners can do during these holidays.

“When it comes to owning property, there is always something that requires maintenance or attention. The holiday period is the ideal time to tackle what needs to be done and help improve the value of your asset,” he says.

Print Print
Top Articles
Savvy buyers can find great property options at lower prices in times of reduced confidence, and with signs of recovery and banks giving more bonds, it's a good time to buy...

While the commercial market may be slower than in recent years, it is by no means stagnating and demand in certain sectors continues to drive ongoing development.

Tourists are paying up to R4 400 per day in Cape Town’s mixed-use Waterfront and Foreshore, with visitor numbers expected to climb to 21 million by 2030. Read on...

Loading

Your browser is out of date!

It looks like you are using an outdated version of Internet Explorer.

If you are using Internet Explorer 8 or higher, please verify that your Internet Explorer compatibility view settings are not enabled.

For the best browsing experience, update to the latest Version of Internet Explorer or try out Google Chrome or Mozilla Firefox.


Please contact our Property24 Support Team for further assistance. Tel. +27 (0)861 111 724