The hidden traps that can devalue your property

When buying or selling property there are many different factors that can impact on the price achievable.  The size of the property, size of the land and location are elements that generally cannot be changed.  Then there are factors that can be changed or controlled that will impact on the sale price.

To avoid the hidden traps that can devalue a property’s sale price achievable, consider the following:

DIY Renovations

In the short-term DIY renovations can save money, however when an agent appraises a property or a buyer steps into the home, any works carried out at a property (such as painting, tiling, property modifications, etc.) that have not been completed to a professional standard, will be noticed for the wrong reasons.  While some DIY small jobs, handy work in the garden and a good clean can be done by the owner, make sure you always engage a qualified and licensed person for the big jobs, such as building, electrical, painting, plumbing or heating repairs and works.

Illegal home improvements

If you are going to structurally improve the property, make sure that you obtain the correct building or development approvals from the council for any extensions to the property, or building modifications, such as a pool, deck or balcony, etc. You don’t want the sale to fall over because the purchaser’s solicitor has found works not completed via the correct channels and approvals.

General state of repair

Dirty grout, unpleasant odours (pet smells or newly fertilised gardens), peeling paint, crumbling garden sheds, quirky décor, sliding doors that don’t work, outdated furniture, cracked concrete, too much clutter, loud colours, old and worn out carpet will all impact on the sale price. 

Before you list a property for sale, take the time to carry out a thorough spring clean, freshen up the property, tidy up any mess (including inside cupboards) and pay attention to the finer details. If you feel you need to update the furnishings and décor to showcase the property so that it stands out and is more appealing to a wide range of buyers, consider property styling. Staging and furniture hire as this could potentially add tens of thousands of dollars to the list price.

Curbside appeal

There is no second chance for a first impression.  If there is no curbside appeal, potential buyers may not even enquire on the property. Make sure you invest time into the presentation of the external areas of the property as well, such as external painting, pressure clean driveways, buy a new front door, letter box and house number, tidy the lawns and trim back the bushes and trees, especially if they block views from the windows and make your home difficult to see from the street. Plant potted colour near the front of the home, wash windows and the house where possible, and remove spider webs. remove unnecessary items or junk and fix any repairs needed.

Other things to consider include decluttering of furniture, as less furniture makes the home look more spacious. If you have bookcases that are freestanding, you may wish to pack those away.

Clean out cupboards and items you won’t be using in the near future. This will also help when you are moving.

Consider a budget kitchen update

There are small things you can do to give a kitchen a lift without spending a great lead. Simple things like re- grouting (if done well) can really make the area look clean.

Updating door handles and cabinet doors can also be a valuable investment and transform this family space.

We hope this has given you some ideas. If you need for advice please feel free to contact Ash on 0417 663 687