This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Selling a property, whether you’re a landlord or homeowner, can be a stressful time. To ensure that you don’t fall at the first hurdle – when getting the home valued – we’re looking at the main features that could devalue your property.
Homeowners, especially, can be surprised at which features may devalue their properties.
NAEA Propertymark (the National Association of Estate Agents) members have noted some of the main features that they’ve witnessed devaluing a property…
Of course, if you’re decorating your own home, it should suit your personal tastes. However, if your taste is particularly colourful or bold, then it might be worth redecorating before you start to market your property.
As landlords will know, modestly decorated homes are the most desirable, as potential buyers can easily see how their own belongings would fit into the space and how they could make it their own.
It might sound obvious, but the condition of a property is an important factor for buyers – particularly those who want a home that’s ready to move into, without having to spend too much money doing it up.
Issues such as damp, cracks in the walls, poor roof condition, an old boiler and single-glazed windows can all have an impact on the value of your property and potential interest from buyers.
If you’re looking to sell a property, make sure that it’s presented in the best way possible. Everything should be clean, clutter-free and any DIY jobs completed.
If a home smells fresh and clean, then it has a much greater chance of selling quickly.
Although they’re great fun for a weekend or two in the summer, swimming pools in the UK aren’t usually considered an attractive property feature. They’re expensive to maintain, use up a lot of space and the Great British weather means that you can’t use them very often, making them more fuss than they’re worth and a turn-off to potential buyers.
If your property has an outdoor swimming pool that is run-down, then you might want to consider filling it in. If it is in great condition, then think about selling the property in the summer, when the pool is up and running, and looking its best.
Planning permission and building regulations
If you have had any works carried out on the property, such as extensions or conversions, then make sure that you obtained appropriate planning permission and building regulations, and have access to these documents.
If you don’t have the right documentation, then you may find that you have to pay for them retrospectively before agreeing a sale.
If you compare two identical homes, but one is bright and airy, while the other is dark and dingy, nine times out of ten, the brighter one will be worth more, because it’s more desirable to buyers.
If you’ve planted lots of bushes and trees close to the windows, these may affect what buyers think. Frosted glass windows and net curtains can also sometimes have the same effect.
The invasive Japanese knotweedis more common than you think, and can damage the foundations of a property and significantly devalue it if it’s at risk of subsidence as a result.
If you think that you can see any in the garden, then call in a professional to excavate it as soon as possible.
Mark Bentley, the President of NAEA Propertymark, says: “The house moving process is undoubtedly stressful, so it’s important to know what could add value to your home and what might detract, or even completely put off, potential buyers.
“Sometimes, the improvements and changes you have made might make the property less attractive to buyers, so, before you start marketing your home, it’s worth taking stock and making any necessary alterations to give you the best chance of securing your asking price.”
He adds: “You can ask friends or family for their honest opinions, or your estate agents can help advise on any small changes you may want to make before placing your home on the market.”
Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources.
When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.
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