Factors which affect a home’s value | Everything Property

Factors which affect a home’s value

home’s value

PHOTOS: Max Vakhtbovych

There are a number of factors that come into play to determine a home’s value and when it comes to getting your home ready to sell, we all know that it’s important to make sure that it looks as good as possible to realise the best return on investment

“Many of the considerations which detract from a home’s value are fairly obvious and most people know that issues such as poor kerb appeal and water damage will negatively impact a home’s value,” says Claude McKirby, co-principal for Lew Geffen Sotheby’s International Realty in Cape Town’s southern suburbs.

“When an agent values a home they take into consideration a number of basics, including the square meterage, the number of bedrooms and bathrooms and its general condition.” However, McKirby, says that over and above these factors, there are other, less obvious features that come into play and which can negatively — or positively — affect a home’s value:


The burnt orange lounge and sunshine yellow kitchen might float your boat but it’s likely to put off many potential homebuyers if they say they are going to have to spend time and money redecorating. If they do love the house, they are likely to lowball you, citing the redecorating costs. Always stick to neutral colours which will appeal to the majority of people.


If the windows don’t close easily or properly and if the seals are crumbling or worn, not only does it look bad, it can also let in nasty drafts and insects. A buyer is sure to want to get them fixed and is likely to reduce his offer.


Living on a tree-lined street or close to a well-maintained park can add to your home’s value. Likewise, if there are no mature trees in your garden or along the street and little sign of greenery anywhere, it can also negatively affect the value.


If your neighbours regularly keep their lawn mown and their pavements neat and tidy, it is likely to affect well on your home’s value whereas if their garden is messy and overgrown and toys are strewn everywhere, it’s likely to have a negative effect.


When updating or renovating your home, it’s important to be consistent otherwise you could risk a loss in overall value. For instance, you modernise your open plan kitchen but leave the worn 70s linoleum flooring in place.


If your property is close to a planned and highly publicised project such as a new major road or housing development, you can expect to see your home’s value decrease because even if it will be an advantage once complete, long-term construction is always a deterrent for numerous reasons.


You’re probably aware that buyers such as to know how close a home is to a good school, but the same is true for grocery stores. If your suburb has a good supermarket within a few blocks of your home, it will certainly add to its appeal.


We all such as to personalise our homes to suit our tastes and needs, but when it comes time to sell, some of these customisations can negatively affect your price or even the ability to sell your home. For instance, if you update your kitchen with lower or higher countertops to suit your height, many buyers may ask for a price reduction — or pass on the house altogether.

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