From the moment you think about buying a property, the first consideration is affordability. This aspect drives what you buy, when you buy, and the best value you can get for your money today and in the future when it comes time to sell.
There is a whole chain of events and processes in a property journey that people either don’t know because they are first-time buyers or haven’t experienced because it may be the first time they are selling. This also includes those who may have bought and sold properties before but do not realise how the market has changed. This is why you need to prepare ahead and understand that ultimately being invested in the property market is all about ‘value’.
Three aspects of value
When we talk about value in the property industry, it is not just about the actual value of your home but the value it creates in the quality of your life. It also relates to how you can grow property value over time. A third layer is the experience you have in the way you acquire ‘valuable’ information and knowledge about the property process.
This is why a full-house resource like Private Property is ideal. Apart from the tens of thousands of property listings for buyers, sellers, and renters on the website, it also offers an Advice Centre, covering every step in the journey, from dream to reality.
Affordable value
What most don’t understand about property ownership is that it’s not just about the type of home you can afford but what you can sustainably afford while you live in the property, including maintenance, upgrades, and changes to your lifestyle. If you get this right, you are in the best position to enter the market confidently rather than struggling to meet your monthly budget while your home becomes neglected.
Maintaining and growing the value of a property doesn’t always mean you have to make major renovations. In many cases it’s the small but visible upgrades that can make a difference. These can be easy, quick wins that instantly make a property feel more special, many of which you can do yourself or don’t cost a fortune.
Simple ones include:
- A fresh coat of paint, whether this is the exterior or interior walls.
- Well-kept gardens and entrances.
- Clean and uncluttered interior spaces.
- Modern lighting.
- New door handles on doors and cabinets.
- Refreshed linen and soft furnishings.
- General maintenance like tightening screws and handles, repairing dripping taps, clearing gutters and checking for roof leaks, replacing cracked tiles, and refurbishing tatty upholstery.
- Decluttering - repurpose-reuse-recycle.
These are the types of improvements that indicate to visitors that you care for what is likely your most precious and largest asset. They are also crucial in preparing a property for sale. Not doing them will result in a gradual decline overall, and this can cost you in the long run.
Buyers also perceive value in how a property is presented, which is why neat and tidy properties tend to sell quickly at the right price vs. a neglected property that attracts lower offers.
Making your money count
Every rand you spend must contribute to an improved quality of life, increase the market appeal of your home, and ensure sustained growth value over time. This requires financial discipline and planning, especially if you want to make major renovations or include add-on value like energy-efficiency improvements.
Informed decision-making is the key to a stress-free property journey and a property’s value. Owning property is a continuous learning process. The more homeowners understand about trends, materials, design, and market expectations, the better equipped they are to make choices that protect and grow their property’s value over time.
The greatest Property Show on the continent
You’ll be able to tap into these aspects and more at Private Property’s The Property Show which is being presented at Decorex from 30 July to 02 August at the Sandton Convention Centre. Themed ‘Your Property Journey Starts Here, this theater-styled show is like no other on the continent, bringing together and giving you access to experts in the market.
Book your Decorex ticket and visit The Property Show.
The topics they will cover include crucial knowledge for all buyers and sellers, especially first-time homeowners; the importance of making informed decisions for investors and how they can build property portfolios and develop a wealth creation mindset through property acquisition; the application process for pre-approval and home loans; and of course, how to finance your lifestyle within the home, ultimately to secure strong value over time.
