Property Maintenance Costs

[stealthywealth.co.za]

Hi Everyone,

So I was wondering, for all of you who own property, what would you say you spend on maintenance every year (as a percentage of the property value)? Also say if it is a sectional title or free standing house.

My experience (sectional title) is about 0.5% per annum.

 

[REAList_1]

50% more than your best calculation.
Lol
Your best line of defence is to have a technical evaluation at R5k on the property you want to buy. This will open your eyes and make for a better deal.
Repainting a small place now is R20k every 10 years.
Replacing floor covers is about R200 per m2.
Upgrading is a rotally different animal related to likes and tastes.
New houses also come with problems.
Don't let my remarks put you off from buying a property.
The joys of having your own place is great.

 

[gimpex]

I just renovated my 2 bed rental unit

Painting the whole place with Plascon paint ( u do get much cheaper but quality is low) walls , ceilings and doors etc - R2500 material and R2000 labour

Kitchen - new cupboard ( 7 wall units and 8 floor units) with quartz tops - material R22000 material and R2300 labour

Tiling the kitchen walls approx 8m2 - material r2000 labour r800

Removal of rubble (old tiles and other rubbish ) -R350

Sold old cupboards for R1000

I also changed the cupboard doors from old look with key locks to nice modern handles by poly filing the holes. Sundries about a grand. Labour to repaint and Polly fil included in painting above.


Hope it helps

 

[stealthywealth.co.za]

Thanks for the input. Any indication as a percentage of the value of the property? More interested in maintenance than renovations. Trying to collate some data for an investigation I am doing. Thanks!

 

[saturnz]

Hi Everyone,

So I was wondering, for all of you who own property, what would you say you spend on maintenance every year (as a percentage of the property value)? Also say if it is a sectional title or free standing house.

My experience (sectional title) is about 0.5% per annum.

I own a stand alone property and a sectional title property.

Maintenance excluding levy for the SC property has been less than R2000 for the five years I've owned it.

My stand alone property is another issue, I've spent well over R200k on the house in the past five years, but its a rental and the house was not in the best condition when I acquired it.

In the past year I've had to replace flooring, R20k, replace corrugated roof on garage, R20k, redo granny flat bathroom as a result of leaks, R14k and now I'm having to automate the garage doors, another 13k (with replacement of hinges) and replace the front security gate, R3k