Return On Investment
Not everybody buys a home as an investment – some people buy a home as a dwelling to stay there “forever” or at least till they have to move due to illness,
old age or retirement.
These homes then come into the market for sale and the owner wants as much as possible, but are most of the time disappointed when the asking price is not reasonable.
The Estate Agent is sometimes blamed for poor pricing, but nobody ever mentions that most of the time poor prices are due to little or no maintenance.
Every rand spend on maintenance save hundreds of rand on repair.
The first reason home maintenance is so important is that it saves the homeowner money. While it's true, maintenance takes money, dedication and hard work,
in the long run you save much more money than if you didn't do maintenance.
The worst part of maintenance is that it's just that: maintenance. It requires completing a task over and over again, and often, to provide upkeep for your home's
working parts. It's just like sweeping the kitchen floor; you have to keep sweeping it every week or so to keep it clean. If you didn't, imagine the state of the floor!
Now think about how often you clean out your dishwasher's filter or unclog your bathroom drain ... probably not as often as you sweep the floor, correct?
Yet you probably use them almost as often as you use the floor.
When you drive a new car off of the lot, it immediately drops in value. The resale value decreases the longer you drive the car and the older it becomes.
This principle doesn't work the same for a home. Of course, home values have to do with the market and not solely what you do to the house, but you can still have a
direct effect on your home's value by maintaining your property.
How does this work? If you decided to put your home up for sale tomorrow, and you hadn't maintained any of your systems and appliances, you would find that the home
inspection report would probably show that your home had a lot of problems or potential problems. Buyers would either want a discounted rate depending on the issues
that your home may have, or ask you to replace or repair systems that may give them trouble in the future. Either way, you won't be getting as much money out of the sale
of the home as it could potentially be worth.
Maintaining a property retains its value. The longer you postpone maintaining or repairing, the more it costs. Today’s buyers are very clever and will use the faults
to knock down the price.
The more home improvement and maintenance projects you do out of your own pocket that increase your home's value, the more equity you end up having in the home.
We have to keep on sweeping the kitchen floor, but we do not necessarily have to keep on painting. When a house is listed, the Estate agent usually inspects the listing and
makes some recommendations. One of them is painting. Unfortunately the painting is most of the time done by unskilled painters and paint of poor quality.
It is strange that an asset with so much value is sometimes “just covered” and the same people have their car resprayed for enormous amounts before selling it.
I have had some homeowners that even said to me “Just cover it as cheap as Possible”. Paint the property with a lasting paint such as Classic Paints and it would not need
to be painted in a long time. Classic Paints is the Lasting Paint.
Painting your home interior and exterior will certainly increase the valuation of any property. Both interior and exterior paint jobs can lead to great Returns On Investment.
A newly painted home will be worth more and it may also attract a higher number of buyers.
A painted house creates positivity and a feel good atmosphere. It triggers happiness and peace of mind. So take the initiative and get your house painted as soon as possible.
When a property is properly painted with Classic paints by a professional painting contractor, it not only increases in value, but it is also an very good selling point for
the Estate Agent. When you present this property to the potential buyer, you could stress that it was painted with Classic Paints, giving the Potential Buyer the peace of mind
that nothing was just “Covered Up” and he/she would not have to repaint in a long time. This will save a lot of money, making the property worth more than bargained for!