As a home owner there are certain improvements that one can do to boost the value of your property.Although some of these renovations can be a long term investment specially if you are thinking about selling the property in the near future. There are a few renovations or improvements that can cost you more in the end rather then filling your pockets with a profit or at least getting the money back that you spent. This is the second part to the 6 Things You Think Add Value To Your House But Really Don't!. Previously we had discussed the factor of a swimming pool or the consequences of turning a one story home into a two story in a neighbourhood where there are mostly one story homes. For more Great tips or if you would like to apply for your first home feel free to contact us on 0861 106 204 or visit our website at www.gpfmortgage.co.za

1. 6 Things You Think Add Value To
Your Home - But Really Don't.
Part 2

2. 4. High-End Upgrades.
Installing stainless steel appliances in your kitchen or imported ceramic
tiles in your entryway may do very little to increase the value of your
home if the bathrooms are still vinyl-floored and the shag carpeting in
the bedrooms is leftover from the '60s.
Upgrades should be consistent to maintain a similar style and quality
throughout the home. A home that has a perfectly renovated and modern
kitchen can be viewed as a work in progress if the bathrooms remain
functionally outdated.

3. The redesign, therefore, might not generate as high a return. Unless the
rest of the home was renovated to the same level.
High-quality upgrades typically raise the worth of high-end homes, but
not necessarily mid-range houses where the upgrade may be inconsistent
with the rest of the home.

4. Furthermore, specific high-end features for example, media rooms with
specialized audio, visual or gaming equipment may be attracting a few
potential buyers, but many potential homebuyers would not consider
paying extra for the home simply because of this added feature.
Chances are that the room would be re-tasked to a more generic living
space.

5. 5. Wall-to-Wall Carpeting.
While real estate listings may still boast "new carpeting throughout" as a
marketing point, potential homebuyers today may flinch at the thought of
having wall-to-wall carpeting.
Carpeting is expensive to buy and install. In addition, there is growing
concern over the healthfulness of carpeting due to the level of substance
used in its processing and the potential for allergens (a major problem
for households with youngsters).

6. Add to that the probability that the carpet style and color that you
thought was perfect might not be what someone else had in mind.
Due to these obstacles, wall-to-wall carpet is something on which it's
difficult to retrieve the costs.
Getting rid of carpeting and restoring wood floors is usually a more
rewarding investment.

7. 6. Invisible Improvements.
Unnoticeable improvements are those costly projects that you know
make your house a better place to live in, but that nobody else would
detect - or likely appreciate.
A new plumbing system or HVAC unit (heating, venting and air
conditioning) might be necessary, but don't count on it to recuperate
these costs when it comes time to sell.

8. Many homebuyers just assume these systems to be in good working
order and will not pay extra just because you just recently installed a new
heater.
It may be better to think of these improvements in terms of routine
maintenance, and not an investment in your home's value.

9. The Bottom Line.
It is problematic to picture investing thousands of rands on a homeimprovement project that will not be reflected in the home's value when
it comes time to sell.
There is no straightforward equation for determining which projects will
garner the highest return, or the most bang for your buck. Some of this
relies on the neighbourhood market and even the age and style of the
house.

10. Homeowners often must choose between a renovation that they would
truly love to have (the in-ground swimming pool) and one that would
prove to become a better investment.
A bit of investigation, or the advice of a qualified real estate agent, can
help homeowners avoid expensive projects that don't really add market
value to a home.

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