August Newsletter
Category News
To fix or to move on - that is the question!
By Upton Properties Principal Mark Upton
If you can look at an older, dated home with ugly carpets and a chocolate-coloured bathroom and see it being transformed into a sleek all-white, modern home that would grace the pages of a décor magazine, then maybe buying a fixer-upper is the ideal way to get your dream home and save yourself a ton of money! This month we are focusing on what factors you should consider if you decide to invest in a fixer-upper.
- You know what they say - Location, location, location! Look for a home in a good neighbourhood. Ideally this should be an area that you know well, would be happy to stay in and which is close to work, friends and family, and schools if you have children.
- Consider the views that are available to the property. Is there a way you could capture or enhance the views with your renovation? This is a great way to add value and pleasure to your home.
- Look at the bones of the home when viewing a property. If a home has a good solid structure it will easier to renovate. Avoid homes that have structural cracks, a roof that is near collapse and weak foundations.
- Don't be put off by properties that seem too large with high maintenance gardens. These properties can often be subdivided and selling the garden will be a great way to put extra rands into your renovation fund.
- Ask yourself if your current home is maybe a candidate for renovation. Renovating your existing property will save you thousands in transfer, agent and relocation costs.
- Don't over capitalise. When planning your renovation, think of the area you have bought in. Take into consideration busy roads and railway lines that may be in close proximity, as these locations don't normally command top dollar and then spend and renovate accordingly.
- When it comes to choosing what renovations to make, choose a design that works for your family. An open-plan lifestyle is one that encourages family connection and allows everyone to connect and communicate even though they may be in different living spaces. Lose the old-style, formal living room as it is not used much anymore.
- Less is definitely more - when planning your renovation, think carefully about the space and what you want to place in it. This is an ideal time to unclutter, simplify and scale down. A simpler lifestyle often translates into one that is more enjoyable and offer more free time for gardening, outdoor activities or travel.
- Consider buying a fixer-upper that has useful additions such as a work-from-home space or a granny flat for parents/late teens/students or even an AirBnB which could generate an income; or add these extras to your current home.
- When choosing your tiles, paint, flooring and cabinetry choose colours that work for you but which are not too 'out there' if you are planning to sell in the near future - purple may be your favourite colour carpet - but it is definitely not good for resale.
- While security is a personal matter, installing security measures or beefing up existing measures will not only give you peace of mind, but will enhance your property value and appeal as well.
- And lastly, when the renovation is all done and you work on restoring the yard, consider a low-maintenance, waterwise garden. Not only will you be saving water but also future time - less time spent mowing translates into more time for family, friends and other pursuits.
Author: Upton Properties
