How to help a property keep its value

Unless properly maintained, properties can become dated and in need of repair. This could 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, the 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 a homeowner’s control, like the demand for a suburb or the economic climate.

“However, what is in a homeowner’s control is the home’s overall condition. By making sure the home is as appealing as possible to potential buyers, homeowners will protect the resale value and safeguard their investment,” Goslett noted.

The first step to safeguarding a home’s resale value is maintaining it over time, which can help avoid bigger repairs later.

RE/MAX of Southern Africa shared some common maintenance tasks homeowners need to look for regularly:

• Chips, cracks, and holes.
It can be easy to ignore a small crack on the wall or a patch of chipped paint. The problem is these minor defects can grow larger or accumulate over time, making a home look scruffy and uncared for. It is better to touch up 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 important. Not only is it the first impression a buyer will get, but it is also often the first place where damage can occur. Apart from seeing to the lawn and doing regular de-weeding, homeowners should clear out the gutters and inspect the roof for possible leaks or water damage entering the home’s interior.

• Cleaning that goes beyond the usual routine.
Every so often, it is advisable to do a deep cleaning of the home. Get fitted carpets professionally cleaned, do a deep clean of all cupboards to ensure nothing spilt or caused damage, clean the windows, scrub the grout between the tiles, and polish any metal fittings (doorknobs, handles, and more) that look cloudy.

Lastly, Goslett said keeping an eye on home décor trends was handy, and the owner should try slowly updating things where they could.

“Sometimes just small updates, like painting cupboard fronts in a new colour or replacing taps, can make a big difference to how modern a home feels,” he noted.
He added that leaning on the advice of a real estate professional could be useful in this regard.

“An agent will know what features buyers are looking for in the area and can point out what things in your home might need updating. Real estate agents can also keep you updated on the average selling prices in your suburb and let you know how your home is appreciating in value over time. It’s definitely worth developing a good working relationship with an agent to stay informed,” he concluded.