Although regular ongoing renovations and upgrades in a home usually add far more to the final value than they cost, every upgrade should be tackled with an eye on the value of other homes in the area, says Mike Greeff, chief executive of Greeff Properties.

“When people are fortunate to have enough money for almost any type of improvement there is a danger that they will overspend and create a home that is so luxurious and comfortably fitted out that it exceeds the average value for the better homes in its area by more than 20 or 30%.

“That unlikely to be recouped because, although there will always be exceptions to the rule, buyers are exceptionally reluctant to buy above what they perceive to be the right price for the area. Their reaction will usually be that for that price, they could buy in this or that other suburb. We presently have such a home on the market and it makes our job exceptionally difficult,” says Greeff.

On the renovation work itself, says Greeff, there will be certain tasks that competent DIY enthusiasts can do themselves, but specialist jobs should be left to experts.

“I have seen more than one home lose its value because cupboards and other doors are not hung properly, tiles are loose and the toilets leak. If your aim is to raise the value of your home, employ people who have learned to work efficiently and neatly.”

In the garden upgrading opportunities are often overlooked, says Greeff. Yet a well cared for garden will often add far more to the value of a home than new cupboards, lighting, tiling or kitchen equipment – and this work is easer to do on your own than the skilled artisan jobs.