We will probably sell it in about two or three years’ time. We want to start upgrading it slightly now in order to get the best price for it when we sell. What areas should we focus on improving?
A:It is important to consider the risk of over capitalising on your property and to really consider the features that will increase your property’s value, should the time come that you want to, or need to, put it on the market.
Upgrades, refurbishment, and makeovers can be a valuable investment choice but beware of over-capitalising.
That said, carefully considered improvements to increase your property’s value will win the hearts and hard-earned buying power of your future buyer.
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Here are some key features to consider:
• Kitchen:Other than your bedroom, this is the place you will spend most of your time. When people can visualise themselves cooking and entertaining in a space, they fall in love with the property.
• Bathroom:This is your retreat from the world – where you can get away from it all and relax. Like a kitchen, if your potential buyers can see themselves there, they’ll be more attracted to the house and willing to pay the asking price for it.
• Patio and garden:South Africans love to drink coffee, braai and spend time outdoors. A well-kept garden and patio facilitate this lifestyle.
• Pool:Investing in a pool is often a double-edged sword because while a lot of people do like pools, many people do not. Most often, it is attractive to have a pool in areas/ suburbs that attract families.
• Garage:Putting in a garage is an investment worth considering, as it’s a place that will protect cars from the weather and also provides storage space.
• Security features:These, or the lack thereof, can make or break a sale. Decide on what alarm systems, motion-detector beams, security gates, outdoor lighting and/or surveillance cameras you have, or need, and make sure they work.
– Marcél du Toit, chief executive of Leadhome