Here is an example of how to get the best price when you sell an investment property that has earned you rent for years. I sold this Randburg property in Malanshof sold, April 2024. This Randburg property in a sought-after complex in Malanshof sold for R920,000. If the investment property had been in better shape, I could have sold it for more—about R220,000 more. But it was dated and needed a facelift.
12 Years Of Rentals For This Investment Property
After a Randburg property has been rented out for 12 years +, it gets worn around the edges. Trends change. And a 12-year-old bathroom that has not kept up with the times is a sure way to knock the price down. Sandi saw the potential in Malanshof as a pre-approved buyer and took her gap. Sandi offered R920,000 in the current market and it was just enough. This was Dirk’s pension but he decided against an upgrade, opting for a sale as it was. Dirk was appalled by what he saw when he visited his unit after 12 years of renting it out and just before I presented him with the offer to purchase or OTP.
An Investment Property In Randburg, Before Pics
Safe to say that this bathroom in a prominent Randburg property suburb was not in mint condition. Tenants often keep windows in a bathroom closed so mold grows on the ceiling and it’s obvious. Tenants who do care look after a unit. Some tenants love and take care of your unit while others don’t. Here is a picture of the bathroom before it transferred into Sandi’s name. And this is what Sandi bought in April of 2024. Here is a look at what the shower looks like. This bathroom belongs in a home decorating magazine. Simply wonderful. This renovation adds value and gets a top price when you sell an investment property.
Investment Property, After Pics
And trust me, this investment property upgrade cost R29,000 for the labour alone. And it’s worth every cent that Sandi paid. Already the unit has increased in value by way more than R75,000. The ROI on this upgrade alone is significant.
How To Improve The Value Of Your Investment Property When You Sell
If you need a quick facelift to get your investment property into mint condition, we can assist. If you need to consider a bigger overhaul like a recent Northcliff sales listing, this revamp has added more than R500,000 to the sales price. We can assist. In the current market, it’s essential to add the right mix of upgrades that we know will get you a mint condition price on a budget.
Bathrooms and Kitchens Sell A Property
Sandi saw the opportunity to create value on her Randburg property. She bought low, spent a bit of money and already after less than a month her investment has grown by around R220,000.
Need To Sell An Investment Property?
Call Sandy from Sell with Sandy and lead agent for Cornerstone Homes on 083 550 1220 if you have plans to sell a Randburg property. Or visit our website for more information. We would love to assist you and will certainly guide you on what can be fixed to get you a mint sales price.
