Thorough maintenance the key to increasing a property's value
Category Advice
Thorough maintenance the key to increasing a property's value
Of all the mistakes a home owner can make (whether he is living in the house himself or renting it to a tenant) by far the most serious is to skimp on the maintenance of the home and its gardens, says Rowan Alexander, Director of Alexander Swart Property.
Capetonians, he says, have a regrettable tendency simply to forget about home maintenance and this was exacerbated by the drought of 2018 and by the difficult economic conditions, both of which led to people giving up on regular maintenance. Neglect of gardens, says Alexander, was more prevalent last year than at any previous time in his career and the skimping on maintenance has been particularly prevalent in buy-to-let properties which owners often do not visit nearly enough.
"A major garden centre that I visited recently said that 2018 had been an incredibly tough year but that from December onwards they had experienced a big turn-around; it appears that people are now working hard to rectify the ravages of the drought year. This means that those who now do not now get to grips with once more improving their properties will find that they have lost value in a serious way."
"If you are a property owner make it one of your resolutions now to carry out effective ongoing maintenance - and start by tackling the garden and the smaller jobs.
"Fertilise the lawn, replant tired looking flower beds, clean out your gutters and, as far as water restrictions will allow, clean and fill up your swimming pool. Also install rainwater tanks. Once you have dealt with the garden, tackle the doors, windows, fascias, pergolas and all other woodwork. A complete repaint externally and internally is probably necessary every seven to ten years and, if you are not doing this yourself, make sure your handyman has the experience to do a really professional job.
"I and many others believe that in 2019 we will in Cape Town's popular middle class Northern suburbs like Brackenfell continue to see price rises of 10% this year - but owners can be absolutely certain of one thing: any home that is not well maintained will not experience good capital growth. Be sensible: find the funds for ongoing maintenance and never leave it to a later day. We have in the last year seen far too many reputable homes losing value as a result of poor maintenance. The majority of Capetonian home buyers are notoriously unwilling to buy any home which requires even a little attention: they expect their new properties to be in pristine condition-even when they are 10, 20 or more years old."
For further information contact Rowan Alexander on cell phone number 082 581 3116 or by email rowan@asproperty.co.za.
Author: Independent Authour
