Most people tend to decide to do home renovations as a matter of necessity. Well, there’s nothing wrong with that, but have you ever considered that even if you don’t need to expand that there are many renovations that can really add value to your home – or for those who are a little cash strapped – earn you some additional income right now?
If you have some money on the bond to play with, or you recently had a bit of a windfall, one of the best investments you could make is improving on what already could be your biggest investment – your home. Here then are 4 home renovations that can really pay!
Since many of us have been forced to work from home recently (thanks to the dreaded pandemic) it has dawned on us that there are potentially great savings to be made by continuing to do so if we can.
Petrol savings, time savings (and let’s face it time is money), and of course in some cases huge savings on eliminating or reducing usually very expensive office space, can all be made by adding a great workspace to your home. That way you get all the cash benefits and a cleverly designed work from home add-on can give you a private entrance and as much privacy as you had when your office was away from the family.
More and more executives, young singles, or even newlyweds are taking to the idea of renting a nice ‘garden cottage’ as part of a larger home. It offers more privacy, usually a more congenial environment, and often better value for money.
Take advantage of this trend by building on a garden cottage with a small space in the garden (providing you have that space) and start to collect monthly on some very handsome rental income. Usually, the monthly financial addition to the bond to raise the capital to do this type of renovation is considerably less than the rental amount that can be achieved.
Short-term rentals too can be quite lucrative, especially in a city like Cape Town, a much sought-after destination for both local business and foreign vacationing travellers.
This of course requires adding some furniture to the package, but it can work especially well for homeowners who want to be more selective about when they want to have other people on the property.
Porch, playroom, or a place for Granny
One needs to remember that any addition to a home can add a lot of value to the home in the long term. If your idea is to simply ensure a better long-term investment, then talk to a good building company that adds design services about where exactly your home could best benefit from home additions or renovations.
We also need to remember that as time goes on (and COVID-19 has been a great example of this) the trend to spend more time in the home will increase, so really consider that granny flat or playroom, but think of them not just as necessities but as solid investments too.
Talk to the professionals
With more than 25 years combined experience in a building industry full of “bakkie builders” Davel and Lottering Construction offer experienced, professional solutions which take no shortcuts. We are as committed to excellence when it comes to home renovations as we are with huge newbuild projects for corporate developers.
Talk to us today and let us assist you to make the right decisions to ensure that your home renovations, whatever they may be, will pay for themselves many times over.
Stay optimistic – and stay safe.