By Justine Olivier
In today’s market the idea and thought of renovating one’s home is viewed with much speculation. As intimidating as the process may be, it can prove to be a beneficial and stress-free experience provided that you have acquired the right knowledge and sought the right counsel.
The single most important factor in terms of renovating for resale is not to overcapitalise on the renovations – make sure the renovations enhance the value of the property itself without actually exceeding what can be recovered in the sale of the property. Experts advise that one should look at the state of one’s home to see whether or not renovating for resale truly is beneficial in the long term.
As each house is different one should consult an expert to be fully aware of the pros and cons of renovating. Professionals further advise that when renovating for resale it is best to concentrate mainly on exterior rather than interior renovation. It’s important to get a comparative cost analysis before going ahead with plans to ensure that you have all your bases covered. A vital aspect to renovating should be to spruce up your home, to contribute to and enhance the aesthetic appeal of the structure itself. A fresh coat of paint, new flooring and carpeting can greatly enhance the magnetic factor of your house. Nico van der Meulen, of Nico van der Meulen Architects says: “If the renovation is well done it could double or triple your profit on the house.”
It’s best to keep in mind that with renovations all city and council laws and regulations need to be adhered to. Before starting anything, it’s best to ensure that all plans have been submitted for approval so that renovations need not be ceased due to an unexpected visit from a building inspector.
With thanks to Nico van der Meulen Architects, Touchstone Homes, Wendy Machanik Properties, www.property24.co.za
