With more people today focused on growing their wealth through property as a buffer against currency depreciation and market volatility and uncertainty amidst a pandemic, renovation can offer a fast-track solution by adding significant value to a home as well as improving the resident’s quality of life.

However, not all upgrades are equal and the onset of Covid-19 hasn’t only impacted investment markets but it has also considerably changed people’s lifestyle needs and priorities for the foreseeable future, and it’s critical to take this into consideration in order to best capitalise on home renovations and upgrades.

So says Claude McKirby, Co-Principal for Lew Geffen Sotheby’s International Realty in Cape Town’s Southern Suburbs, adding that certain projects are simply not worth the cost or the inconvenience unless they are purely for personal comfort or lifestyle and you plan on staying in the property for more than a couple of years.

“The relationship we have with our living spaces has changed significantly since March last year and we have all had time to reflect and re-evaluate how we live in our homes.

“And, with the impact of the pandemic likely to last for years to come, the past year has also highlighted the importance of being more self-sufficient and creating a more multi-functional home.

“The two key factors to consider when it comes to renovations remain unchanged – to determine what would make your home as comfortable as possible for the immediate future and which upgrades make the most financial sense for re-sale value.”

“However,” says McKirby, “whilst there are a number of pre-pandemic features that remain at the top of prospective buyer’s wish lists, including open plan living areas, lots of natural light and energy-saving features, there are now also several trends which have emerged as a direct result of the pandemic.”

According to McKirby, the following renovations and upgrades are among those that are likely to have the best potential return on investment in the foreseeable future:

Create A Home Office

At the moment, lots of people are still working remotely but many companies have made a conscious shift to a work-from-home hybrid model that only requires employees to come into the office on certain days, so a comfortable home office now ranks high on the wish list of many buyers.  If your home doesn’t have enough space or the right floorplan for a dedicated home office, with a little creativity and planning it’s possible to convert a seldom-unused area into a very functional office nook.

Spruce up the outdoor living area

After having spent the best part of a year at home, it’s no surprise that homeowners now look for more living, dining, entertaining, and recreational options within their own homes and, with outdoor spaces now more valued than ever, optimising functionality and appearance is a great way to add value for a future sale.

Depending on budget, there are many ways to do so, such as adding shade (awnings etc), building an outdoor kitchen, creating flow between the interior and exterior with stack or French doors or installing a pergola alongside of the pool.

It also pays to tidy the garden and spend a little on landscaping to create a beautiful and inviting outdoor environment.

Update the kitchen

As the heart of most homes, kitchens have always been prominent rooms but Covid-19 has placed new emphasis on this room’s importance.

However, potential buyers are no longer merely focusing on the kitchen’s appearance and whether the taps are dated, they are also factoring in functionality for cooking multiple meals a day and storage for excess supplies.

Re-purpose under-utilised spaces

Most homes have at least one area or room that seldom gets used and, with multiple family members at home much of the day in many households, it makes sense to optimise all your available space.

Basements, attics, spare rooms or garages can easily be converted into kid’s playrooms, offices, gyms and fitness centres or even self-contained accommodation for extended family which could eventually earn additional income.

Smart features

More time spent at home has led to a greater desire for hi-tech features to facilitate everything from greener living to added amenities. Proper installation and a fully integrated suite of services can certainly add value, both now and in the future when it’s time to sell.

Health and sanitation

The pandemic has precipitated a greater concern about the transmission of illness and germs and along with this, an increase in demand for features like hands-free and touchless fittings and air purifiers. Bear in mind that the seemingly minor act of choosing a tap or lighting in the guest bathroom can make a difference now as well as in the future.

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