No matter if you're already a homeowner or someone who is looking to purchase a home, one of the things that may be on your mind is renovations. Renovations have a lot of great benefits when it comes to your investment in property.
Often you don't have the budget to renovate the entire home, so you have to choose where you want to spend that money. Or better put, where you're going to get the most return on your investment.
Several different renovations can actually bring you the best financial return, and we are going to take a look at four of those. But before we do that, let's look at the benefits of renovation itself and why you might choose to renovate a room in your home.
Renovations tend to be very costly and can be quite time-consuming, never mind the fact that it leaves your home in a little bit of an upheaval for a specific amount of time.
But even though it does have a few negative and challenging issues, renovation can actually be quite a great option if you're looking to elevate the value of your home or simply upgrade the features.
So here are a few reasons why people choose to renovate their homes.
Increase Value - The main reason most people choose to do a renovation is to increase the value of the home. This is done primarily because they are looking to the future, perhaps putting the house back on the market, and by elevating the value, they will be able to sell it for more financial gain.
Fixing Issues - Some choose to do renovation because there are safety issues within the house. This may be because the house is older and has electrical problems or has leaks within the home. This is a great reason to renovate and can also allow you to upgrade things which brings us to the next reason.
Upgrade Functions - Depending on the age of your home, it may be in a style or have features that were prominent in another time but have outlived their aesthetic. So many people choose to do renovation in this aspect to upgrade and add in special features to bring the home into the current century.
Renovations to Add Value
If you have the budget and you want to renovate your entire home, that would be amazing, but not everybody has the funds on hand to do this. This means you have to be strategic when you're looking to add value to your investment in South Africa. There are a few rooms in your home that will have a better return than others, and we are going to take a look at each of these.
Though the roof may be the last thing many people think of when looking to renovate their homes, it is actually one of the best options. Most often, the renovation of this is done to extend upwards, which could allow for an extra room or even a bathroom. Doing this type of loft conversion will help add to the square meters of the home and could potentially add 30% more value to that home.
Of course, the loft conversion has to be successful, which means it needs to look like it is part of the original house both from the outside and the inside. In other words, you're looking for a balanced ratio. There are, of course, things you have to pay attention to when doing this type of renovation, including ensuring that the pitch is high enough to allow for headroom without limiting the space available on the floor.
You also need to make sure that the home is structurally safe to add upward. If it's not, you can always choose to extend to either side. Of course, most of the concerns and challenges that you will experience with extending up will pertain to the renovation of extending your roof out.
Many homes are sold because of the kitchen themselves. This is one of the most important rooms in a home as it is the heart, and a lot of time will be spent there. However, when looking to renovate your kitchen, you have to understand that this is going to be one of the more costly options, but it can also be easily done in a DIY manner.
There are many options you can utilize to save money when doing this, including using prefab cupboards or simply replacing fixturing as knobs and door handles.
Even simply putting a new coat of paint on the kitchen can have wonderful effects on the value of your home. Of course, there are more expensive options, such as refitting the kitchen with brand new appliances and fixtures and adding special cupboards and intricate designs. Of course, this type of renovation will cost more but, in turn, will add more value to your home.
Another room that could be a potentially great choice to renovate is the bathroom. This can be quite inexpensive as you could do things like replacing the toilet or even the vanity.
Once those are done, you can add paint or even change the tiles to lend a different aesthetic to the bathroom. No matter what you do in here, in the end, it will elevate the value of your home and maybe make it more aesthetically pleasing for you.
South Africa has wonderful weather during the spring and summer, so having access to a pool is always a nice addition to a home. Before you choose to add this as your renovation, though, make sure you take a look at the market and see if this is something that people are looking for in your area. You, of course, then have to think about the landscaping and how you're going to integrate that with your home to make it a more cohesive look.
If this is the renovation you're looking for, you want to make sure you put that in the hands of someone who is experienced and reputable so that you have access to a professional that knows what they're doing and can guide you through the process.
Any type of renovation or upgrade to your home will increase the value quite a bit. So if you're looking to sell your home or simply prepared for that option down the road, completing one of these four renovations may be just the key to improving your home.