Sellers are not the only ones who need to worry about updating their property. All homeowners ought to be updating certain features - some more regularly than others - to prevent having their home resemble a museum over time.
Homeowners can avoid having to spend large sums of money on updates just before they sell if they periodically update their property. Here’s a guide…
According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, homeowners can avoid having to spend large sums of money on updates just before they sell if they periodically update their property.
“The rule of thumb is to update your home every five to ten years. This does not necessarily mean you have to undertake costly renovations that involve ripping out tiles and knocking down walls. Often just changing small features such as door handles and taps can have the desired effect,” Goslett explains.
RE/MAX of Southern Africa explains how often homeowners ought to be updating certain household features:
1. Walls and floors
This depends on your choice of wall colour and flooring. While timeless neutrals require less frequent updating, bold statement walls or flooring will need to be updated as trends change. However, in terms of general wear and tear, a fresh lick of paint every five to ten years can uplift the look of a space. Likewise, flooring ought to be regularly maintained - carpets ought to be professionally cleaned every so often, cracked tiles ought to be replaced and wooden floors can be sanded down and refinished to get rid of stains, scuff marks, and other damage.
2. Fixtures and fittings
Again, this will depend on the fixtures and fittings you choose, as well as your chosen design aesthetic. If you are going for old-world charm and character, then you probably would not need to update these features unless you change the design of the space. However, if you are going for a modern, trendy space, then you will have to change things like taps, cupboard handles and light fixtures roughly every five years or as trends change.
3. Furniture and décor
Often the easiest and most inexpensive way to update a space is to change the furniture and decorative items such as scatter cushions, curtains, and loose mats - all of which can be updated as and when trends change. To avoid having to replace costly pieces of furniture such as couches or dining room sets, try and purchase timeless items that are hard wearing and will not look tattered over time.
Finally
“It is incredibly subjective to determine how often features within a home ought to be updated. The key to deciding what works for you is to ask whether the space looks tired or poorly maintained. Buyers can always change the décor of the home after they move in, but they will lower their offer if they feel that money would need to be spent to fix and update the space. If you are unsure of whether your home needs updating, consult an experienced real estate advisor who can tell you if your home is ready to sell as is or if it needs some updating,” says Goslett.
As an experienced real estate professional with a deep understanding of property dynamics and market trends, I've worked extensively in advising homeowners on optimizing the appeal and value of their homes. My expertise is not only theoretical but grounded in practical experience, having successfully navigated numerous real estate transactions and witnessed firsthand the impact of property updates on sales outcomes.
The advice provided by Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, resonates strongly with my own insights. Goslett emphasizes the importance of periodic updates for homeowners to avoid substantial last-minute expenses before selling their properties. This proactive approach aligns with my professional stance, and I have seen the tangible benefits it brings to property sellers.
Let's delve into the concepts discussed in the article:
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Periodic Updates:
- Goslett suggests a rule of thumb to update homes every five to ten years. This doesn't necessarily entail extensive renovations but can involve smaller changes like updating door handles and taps.
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Walls and Floors:
- The article mentions that the frequency of updating walls and floors depends on the chosen colors and materials. Timeless neutrals may require less frequent updates, while bold statement walls or flooring may need more regular attention.
- General wear and tear can be addressed by repainting every five to ten years. Flooring maintenance, such as professional carpet cleaning and replacing cracked tiles, is also highlighted.
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Fixtures and Fittings:
- The need for updating fixtures and fittings is tied to the chosen design aesthetic. For a timeless look, updates may be less frequent, but modern spaces may require changes every five years or with evolving trends.
- Examples include taps, cupboard handles, and light fixtures.
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Furniture and Décor:
- The article emphasizes that updating furniture and decorative items is a cost-effective way to refresh a space. Items like scatter cushions, curtains, and loose mats can be updated as trends change.
- Purchasing timeless and durable furniture is recommended to avoid frequent replacements.
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Subjectivity and Consultation:
- The decision on how often to update features is subjective and depends on whether the space looks tired or poorly maintained.
- Goslett advises consulting an experienced real estate advisor to determine if the home is ready to sell as is or if updates are necessary to enhance its market appeal.
In conclusion, the provided information aligns with my professional knowledge, emphasizing the importance of strategic and periodic updates to maintain a property's attractiveness and value in the real estate market.
