Four things to think about before going the DIY route
There are many affordable ways to upgrade your space if you are willing to put in the work yourself. However, before you tackle a DIY project, be sure to consider its possible effects on the resale value of a property.“While some DIY projects are easy to remove if done incorrectly, others might be harder to correct and could have a negative impact on the resale value of the home,” warns Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
Before tackling a renovation project on your own, RE/MAX of Southern Africa shares a few key considerations:
Will the project require a compliance certificate?
If the answer to this is yes, then it’s probably best to leave the job to the professionals (unless you are an experienced DIY expert). This includes projects that will affect the plumbing or electrics of the home. If you don’t feel confident that you can do this correctly, getting it wrong can be costly to repair and might delay your sales process if issues are only uncovered during the home inspection process.
Will the project stay with the home when you sell?
Remember that anything that is built-in or physically attached to the home will remain with the home when you sell, so these need to be done right or they might end up deterring future buyers.
How expensive is it to replace?
In the unfortunate event that your project does not turn out as great as you had imagined, it is important to consider how much it will cost to remove it and have it properly redone. Future buyers will factor it into the offer they are willing to make if there are imperfect DIY projects that are expensive for them to have to fix.
Is it trendy for now, or will it have long-term appeal?
As tempting as it may be to jump onto every hot new interior design trend, some designs might not remain popular for very long. If your DIY project is going to be a permanent feature in the home, it's important to consider what features and upgrades are more likely to have long-term demand in your local real estate market.
Before tackling any DIY project, Goslett recommends speaking to a local real estate professional to make sure that your handiwork will increase rather than decrease the value of the home. “The impact of DIY projects on the resale value of a home can vary depending on the quality of work, the type of project, market trends, and compliance issues. By chatting to a local RE/MAX Agent, homeowners can gain a greater understanding on each of these aspects to discover how their project might impact the future marketability of their home,” Goslett concludes.
