Surprising property changes that can actually lower its value

Published on 24th April, 2023 at 03:12 pm

There’s no doubt that property is one of the best investments you can make in life. But sometimes, despite putting in the time, energy and money, we unintentionally devalue it. We explore some of the decisions you should think twice about before making irreversible changes.

Reading time: 2 minutes

In this article you’ll learn:

• Why it’s important to think through property changes before making them to avoid lowering your property’s value.
• About surprising changes to your property that can lower its value.
• How the Sanlam Reality building value calculator can help you protect your property.

Think before out-building your area

Spending too much (overcapitalising) on renovations, minor updates or features can leave your property with a higher value than the ‘ceiling price’ of its neighbourhood.

Future-proof your property’s larger fixed features

Large baths, swimming pools or jacuzzis are gradually becoming regarded as outdated. Potential buyers can see the potential risks, impact and maintenance immediately.

If you’re considering adding solar panels to your property, read this first.

Consider trends vs classics

Trends come and go, and when it comes to selling your property, they can make all the difference in the selling price. “Don’t follow trends, but rather stick to the classics,” says Freon Bester, founder and managing director of FJB Property. “You can always express yourself through micro-trends like soft furnishings such as curtains or scatter cushions. But fixed items like taps, flooring or finishes should remain classic and universally appealing. This will enable you as the homeowner to capitalise when the market is right at its peak without risking the ‘outdated’ factor.”

The laws of layout

When it comes to the layout of your home, prioritise functionality above personal preferences. “After all,” says Bester, “just because a braai room that leads directly into a kitchen works for you, it doesn’t mean it will work for everyone.”

He suggests considering how the layout can enhance a space while maximising seamless, practical use. “Through this exercise, you can even consider how furniture will work in the layout,” he adds.

The right kind of renovations

Similarly, renovations should be practical and logical. “It’s important to ensure that you create unity in your home,” advises Bester. “Stick to a mood board throughout and link carpentry finishes, cabinetry and flooring.” Sticking to practical choices, you’re able to create a sanctuary for yourself, while ensuring you capitalise at the highest prices when the market is on an upswing.

So, you’re ready to sell

When you’re finally ready to sell, it’s important that your property is in tip-top condition, but without looking cluttered or too personal. When you’re ready to open your home for viewing, Bester suggests taking the time to declutter and remove certain personal items.

“This enables prospective buyers to envision themselves and their belongings in the property,” he explains. “Refrain from immediately packing your belongings in boxes in plain sight,” he adds. “This might come across as you being desperate, and will likely yield lower offers.”

To protect your property against the unexpected, building insurance is a smart consideration. But how can you ensure your property is insured for its true value? Use this building value calculator to help you out.