Ways to ensure your home holds its value over time
You can maintain and uplift the value of your property by implementing some measures. This is what you need to do.
Unless properly maintained, a property can become dated and need repair. This will lead to lower asking prices once the home goes up for sale. To prevent this, homeowners are encouraged to find ways to help a property maintain its value over time.
According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, there are many aspects that affect a home’s value over time – many of which are outside of a homeowner’s control, like the demand for a suburb or the greater economic conditions.
“However, what is within a homeowner’s control is the overall condition of the home. By making sure that the home is as appealing as possible to potential buyers, homeowners will protect the resale value of their home and safeguard their investment,” Goslett notes.
The first step to safeguarding a home’s resale value is to maintain the home over time, which can help avoid larger repair issues down the road. RE/MAX of Southern Africa shares some of the common maintenance tasks that homeowners need to see to on a regular basis:
Maintenance tasks to consider
Chips, cracks, and holes
It can be easy to ignore a small crack on the wall or a patch of chipped paint here and there. The problem is that these minor defects can either grow larger or accumulate over time, which can make a home look scruffy and uncared for. It is better to touch up any of these defects as soon as they appear rather than delay the repairs until they become a bigger problem.
Regular garden maintenance
The home’s exterior is so important. Not only is it the first impression a buyer will get of the home, but it is also often the first place where damage can occur. Apart from seeing to the lawn and doing regular weed maintenance, homeowners should be clearing out gutters and inspecting the roof to guard against potential leaks or water damage making its way to the home’s interior.
Cleaning that goes beyond the normal routine
Every so often, it is advisable to do a deep cleaning of the home. Get any fitted carpets professionally cleaned; do a deep clean of all cupboards to make sure nothing has spilled or caused damage; clean all windows; scrub the grout between the tiles, and polish any metal fittings (doorknobs, handles, etc.) that are looking cloudy.
Lastly, Goslett mentions that keeping an eye on home décor trends is useful, which you can use to slowly update things where you can. “Sometimes just small updates, like painting cupboard fronts in a new colour or replacing faucets, can make a big difference to how modern a home feels,” he notes. He adds that leaning on the advice of a real estate professional can be useful in this regard.
“A property practitioner will know what features buyers are looking for in the area and can point out if things in your home might need updating. Real estate property practitioners’ are also able to keep you updated on the average selling prices in your suburb and can let you know how your home is appreciating in value over time – it’s definitely worth developing a good working relationship with a property practitioner to stay informed,” he concludes.
Writer: Kayla Ferguson
