What Upgrades Can Increase Your Home’s Value?

When browsing the property market, many factors can sway what you finally choose. Price and location are a priority for most, with elements like the colour of its walls and its bathroom finishes rarely factoring into the decision. As an existing or future homeowner, you’ll know that you may need to adapt your home to better meet your family’s needs. Depending on its condition, this might involve renovation work. As this can be costly, you’ll want any changes you make to your property to offer you value for money. This could mean ensuring your proposed upgrades suit your current lifestyle while increasing your home’s current and future value. Here are a few upgrades that can help you achieve this.

Add more space

Even in the largest of homes, creatively adding space (and using the existing space available cleverly) can add value to a property. This doesn’t mean that you should build more rooms unless you require them. You can add extra space without adding to your home by converting an existing loft or basement into a functional area such as a home office or gym. You can also add built-in open or closed shelves to awkward corners or bare walls for added storage space.

Optimise your temperature controls

Optimising your home with passive heating and cooling can help you keep comfortable throughout the year while lowering your heating and cooling costs. In a country where loadshedding and rising electricity costs are a reality, this could appeal to future buyers. Updating or replacing your home’s insulation is one way you can do this. You can also add windows to take advantage of natural wind patterns or install retractable awnings or overhangs to prevent sunlight from directly heating your home’s surface.

Install additional outlets

Electrical outlets are commonly overlooked when it comes to home renovations. Many homes rely on extension cables and adaptors to keep everything connected. Not only can this be unsightly, but it can also make your home seem more cluttered and smaller than it is. Installing a few strategically placed outlets with USB and plug ports can modernise your home and make it more convenient to live in. Consulting with a professional will ensure that your home’s outlet box can support these changes safely and securely.

Update your kitchen and bathroom

A home’s kitchen and bathroom are usually its most highly trafficked and used areas. These rooms can show signs of wear and tear quicker than other parts of the home. Keeping your upgrades functional and up to date can go a long way to improving your home’s overall value. There are also renovations you can undertake in every price range. You can start by improving each room’s overall layout within the space available, avoiding trends and instead focusing on what would suit the space best. Costlier renovations can include replacing your cracked and stained tiles and grouting or adding additional sinks, water-saving faucets or showerheads. More affordable DIY renovations can include switching out old doorknobs, handles and fittings for newer ones or repainting the walls.

Make your home more secure

Most South Africans are security conscious, and a well-secured home can appeal to those looking for additional peace of mind. Reviewing what surrounding homes have invested in can give you an idea of what level of security someone might expect when looking for a home in your area. Minor upgrades can include adding security bars across windows and doors or converting an entrance gate into an electric one. More extensive renovations can involve mapping your home and installing a CCTV system with cameras monitoring the entire property.

Revisit your landscaping

As the world becomes increasingly aware of water scarcity, landscaping trends have shifted away from sprawling green lawns and exotic, high-maintenance flowers being the standard for every home. While larger and fancier homes may still want to maintain these conventional types of gardens, the average suburban homeowner would do well to consider something easier to maintain and more environmentally friendly. You can enhance your garden space by integrating water-wise indigenous plants and shrubs to replace any exotics. There is a growing trend towards rewilding your garden, which will make it more attractive to birds, butterflies, bees and chameleons, amongst others – creating wonderful biodiversity which can also be very rewarding for the home owner. You can also improve your garden’s appearance on a limited budget by making use of solar lighting and reclaimed materials.

Home renovation tips

It’s natural to get excited about renovating your home to increase your enjoyment of it and improve its financial value. Before you begin sketching plans, ask yourself these questions to ensure your investment in renovations will actually add value:

1. Are my proposed changes in line with other properties in the area? Home improvements should remain in line with that others are doing in your neighbourhood. Any changes that are too drastic or make your property stick out may not increase its value or appeal to the area’s average buyer.
2. Will my proposed changes require ongoing maintenance? You may want to install a feature that requires constant, costly maintenance – such as a swimming pool or thatched roof. Be aware that this feature might not appeal to all buyers.
3. Are you on a strict budget or deadline? Renovation projects can sometimes go over schedule and cost more than you anticipated. Avoiding spending to your budget limit and giving yourself additional time for its completion can help you complete the renovations to your satisfaction without rushing through any steps or decreasing the quality of the work.
4. Am I willing to stick to a classic or neutral style? You may want to let your creativity run free when renovating your home for the first time. This can mean experimenting with bold colours, eye-catching fixtures and quirky wallpaper or carpeting. These finishing touches are a deeply personal choice and others may not share your taste. Sticking to colours and clean designs can give your home a more mainstream appeal.

Interested in applying for home finance or accessing equity in your current property to make these upgrades possible? Chat to an expert consultant at SA Home Loans for helpful guidance on the options available to you. Contact us today or leave your details and we'll call you back.