BY CAMILIA DU PLOOY
Losing weight, getting fit, saving money or changing your career are usually the standard New Year resolutions we all have, instead of wasting time and effort on to the same old, why not focus on the one investment that never disappoints.
“Adding a property to your portfolio as an investment, selling to upgrade to a larger home, downscaling, renovating your current property or most importantly, if you have not yet entered the property market – obtaining your own home. Whichever position you are currently in, start a new year with your property portfolio in mind and start planning” advised Craig Hutchison, CEO of Engel & Völkers Southern Africa.
New years resolutions can change your life if you are determined enough to see them through. In order to succeed, you need specific goals, careful planning and realistic expectations. We would like to give you this essential overview to guide you in the right direction to ensure that the property industry works for you this year.
SELLING YOUR HOME?
- Speak to your local property sales advisor to get a professional opinion of the value of your home, this will put you in a position to decide which route you will be taking this year – renovating or selling.
- Request advice about minor or major renovations that could improve the value of your property, we recommend contacting builders or a handyman to get quotes and then determine whether it is actually worthwhile.
- Determine whether you are looking to purchase immediately when the property is sold. Buying and selling at the same time requires a lot of planning and your sales advisor can help ease this process by explaining all the options and even finding you your new home and managing the transition process.
- If you are selling an investment property, speak to your financial planners and accountants first. You might feel that now is the right time, but there may be financial implications with the timing of your sale that should be considered, and you might benefit more by keeping your investment or even growing your portfolio. Cash in hand might seem appealing, but an investment will give you an ongoing income as well as assets which continue to grow.