Kaya 959 Reporter
Your home is your pride and joy, but sometimes your taste in design or modifications could actually work against you in the long run.
Property experts suggest that homeowners take this into consideration ahead of making major modifications to the home.
Kaya Biz with Gugulethu Mfuphi spoke with Nhlakanipho Ntombela who is a Property Expert and blogger who shared which upgrades might lower the value of their property.
LISTEN TO THE FULL CONVERSATION HERE:
Don’t over-personalise your property
“When you are thinking of upgrading your property there are just a few things you need to consider, and one of the most important is to not over-personalise your upgrades. But, at the end of the day if you are intending of selling your property in the future, if you’ve over-personalised your property you have basically personalised it for you and nobody else but you will want to live in that property,” says Ntombela.
Think of the future buyer of your property
“If you want to consider making upgrades to your property, try to make them not permanent. Let’s say for example you like the colour pink, and you want to paint your house pink, just know that is a very attractive colour that is not going to be necessarily attractive to many buyers in the future,” says Ntombela.
Ntommbela suggested that property owners should make thoughtful modifications that are not outrageous and permanent.
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SA home are also losing their value
New data from the property and automated information business Lightstone reveals that, with the exception of the most affordable category of residential property, the real worth of homes in South Africa is declining across regions and value ranges.
According to Lightstone, the average annual rate of inflation for residential property was 4.46 per cent in May.
Gugulethu Mfuphi also unpacked this new data on Kaya Biz this week
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