What adds value to your house?
Dec 04, 2009
THINKING about what constitutes the value of homes in posh areas like Kololo, Buziga and Ntinda, most people envisage flashy kitchens, a swimming pool or a jacuzzi.
By TITUS KAKEMBO
THINKING about what constitutes the value of homes in posh areas like Kololo, Buziga and Ntinda, most people envisage flashy kitchens, a swimming pool or a jacuzzi.
However, if you are in the business of selling houses, these may not add significant value to your house.
To get bags of money out of your house, here are some tips from seasoned dealers. Moses Zikusoka, Ideas Factory director says: “We are constantly assailed with advice on how to boost the value of our homes.
But there are changes that instead push prices down and make property less attractive in the market.â€
However, a survey among dealers and consumers was a revelation of diverse views.
Extravagant kitchens, bathrooms and hot tubs Potential house buyers say bathroom suites and kitchen cabinets are usually a waste of time. The buyers prefer fitting their own to put their mark on their property.
“One mistake developers make is putting up an expensive ground-floor jacuzzi room and a separate shower unit, which cost about sh20m, yet it is hardly used. Some buyers rip it out,†says a commission agent, Sam Lwanga.
Dodgy decoration
Decorations that reflect the interests of the owner can be a turn-off for buyers. The tip is to use neutral-coloured paints, which tend to maximise the appeal of a property going on the market.
“Purchasers look for quality and not necessarily gimmicky improvements, but high-quality finishes.
Neutral ivory or white in a classic modern or period style is always the safest bet,†says Zikusoka. John Musisi, a commission agent, adds that more money and time should be spent beautifying the driveway and repainting the front door.
The bedroom should come last.
Flamboyant renovations
The modern architectural form often favours open-plan interiors. People want enough natural light unlike the older homes.
It applies to bedrooms and private space. In Kamwokya, residents are converting three-bed, 1,200 sq ft apartments into a one-bedroom flat with a vast open reception area.
Kaggwa, a property dealer, says such renovations may shoot down the value of the house.
He adds that it is better if the house is left for the buyer to renovate it the way he or she pleases.
Swimming pools
In the house market, a swimming pool, especially in the garden, can become a liability since the cost of running it is high and yet the cost per swim in public swimming pools is low.
Poorly planned extensions
It is vital to find out market prices before you start extensions on your house.
David Onay, a property developer, says for instance if your house is valued at sh200m, then a sh100m extension of it to earn probably sh600m is unrealistic.
You can improve the value of your house by creating enough space, a spacious bedroom, extending above a garage and installing energy-efficiency items like solar plates.
THINKING about what constitutes the value of homes in posh areas like Kololo, Buziga and Ntinda, most people envisage flashy kitchens, a swimming pool or a jacuzzi.
However, if you are in the business of selling houses, these may not add significant value to your house.
To get bags of money out of your house, here are some tips from seasoned dealers. Moses Zikusoka, Ideas Factory director says: “We are constantly assailed with advice on how to boost the value of our homes.
But there are changes that instead push prices down and make property less attractive in the market.â€
However, a survey among dealers and consumers was a revelation of diverse views.
Extravagant kitchens, bathrooms and hot tubs Potential house buyers say bathroom suites and kitchen cabinets are usually a waste of time. The buyers prefer fitting their own to put their mark on their property.
“One mistake developers make is putting up an expensive ground-floor jacuzzi room and a separate shower unit, which cost about sh20m, yet it is hardly used. Some buyers rip it out,†says a commission agent, Sam Lwanga.
Dodgy decoration
Decorations that reflect the interests of the owner can be a turn-off for buyers. The tip is to use neutral-coloured paints, which tend to maximise the appeal of a property going on the market.
“Purchasers look for quality and not necessarily gimmicky improvements, but high-quality finishes.
Neutral ivory or white in a classic modern or period style is always the safest bet,†says Zikusoka. John Musisi, a commission agent, adds that more money and time should be spent beautifying the driveway and repainting the front door.
The bedroom should come last.
Flamboyant renovations
The modern architectural form often favours open-plan interiors. People want enough natural light unlike the older homes.
It applies to bedrooms and private space. In Kamwokya, residents are converting three-bed, 1,200 sq ft apartments into a one-bedroom flat with a vast open reception area.
Kaggwa, a property dealer, says such renovations may shoot down the value of the house.
He adds that it is better if the house is left for the buyer to renovate it the way he or she pleases.
Swimming pools
In the house market, a swimming pool, especially in the garden, can become a liability since the cost of running it is high and yet the cost per swim in public swimming pools is low.
Poorly planned extensions
It is vital to find out market prices before you start extensions on your house.
David Onay, a property developer, says for instance if your house is valued at sh200m, then a sh100m extension of it to earn probably sh600m is unrealistic.
You can improve the value of your house by creating enough space, a spacious bedroom, extending above a garage and installing energy-efficiency items like solar plates.