February is the month of love, so why not take the time to fall in love with your home all over again? Those who never fell out of love could also use this month as a reminder to show the property some love by seeing to some regular maintenance tasks and updating the spaces that need it the most.
READ: 8 surprising factors you probably didn’t know could affect your home’s value
According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, homeowners can easily fall out of love with their property when their family outgrows the space or when their lifestyle needs change. In these scenarios, moving to a new property tends to be the best solution.
However, sometimes a homeowner can fall out of love with their property simply because it needs some updating or reorganising. When this happens, Goslett recommends tackling a few small home improvement projects, like painting a room or updating fixtures.
Apart from this, a home can also begin to feel cluttered and disorganised the longer we live in it. “Moving to a larger home does not always help solve the problem of having too little space – it might only provide more rooms to be filled with clutter,” Goslett cautions.
Before making the decision to move to a bigger home, he suggests first evaluating the use of space available in your current home and considering if there are ways to declutter and make better use of the space.
It can also help to introduce some new décor or to rearrange the furniture to give the home a fresh feeling. Keep in mind that falling back in love with your home is a process, and it might take time. “Small, intentional changes can make a significant impact on how homeowners perceive and appreciate their living spaces,” says Goslett.
READ: Exploring smart home upgrades for every budget
With this in mind, it can also be useful to include updates to your home that help you do more of the things you love. For example, if you love hosting friends and family, then invest the time and money into refreshing the kitchen and dining room first. If you are an avid reader, then find a cosy spot in the home to create a built-in reading nook.
“If, after doing some updates, a homeowner still wants to sell the home, the updates will at least make the home more sellable and appealing to a broader audience of potential buyers. This should hopefully make it easier to sell so that the homeowner can move on to a new home they will love,” says Goslett.
READ: Easy DIY: How to transform your kitchen with paint and wallpaper
Yael Geffen, CEO of Lew Geffen Sotheby’s International Realty, cautions that not all upgrades are equal and, whilst many will deliver on returns, there are some remodels that can work against you and could even make your home less desirable.
“Some renovations will actually cost you money in the long run. Just because you regard something as an improvement doesn’t mean that potential buyers will feel the same way – and you could significantly decrease the pool of potential buyers if you’re not careful.”
According to Geffen, these are some of the upgrades that will lower your home’s value:
- Outbuilding your neighbour
- Too much carpeting
- Bright and old colours
- Amalgamating bedrooms to create a bigger room
- Removing closets
- A hot tub
- DIY projects
READ: Upgrades that can actually lower your home’s value
Here are some ideas for home improvement projects that pay off courtesy of Home-Dzine:
Kitchens - Kitchen remodels are among the best for recouping the cost of renovations. Modernise with new appliances, counter tops and cabinets.
Bathrooms - Adding a bathroom increases the value of your home. So does upgrading an existing one. Adding new light fixtures, vanities with plenty of storage, ceramic tile or marble, and a new coat of paint are just some of the ways to improve a bathroom.
Outdoors - Building a deck or patio enhances your enjoyment of your garden and lets you recover approximately 85 percent of the project costs in added value.
Additions - Converting an attic into a bedroom or adding a family room are great ways to add value and make your home fit your needs as your family grows.
Painting - One of the most affordable and effective improvements you can make to your home is painting both the interior and exterior. Painting maintains the beauty and value of the home.
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