Nine Items that May Devalue your Property

Devalue your property, Nine Items that May Devalue your Property, Paul Hill Realty

There are multiple variables that play a role in establishing the value of your property, such as its location in relation to amenities that you cannot change: great local schools, hospitals, and shops, the house, and the land size; but there are many elements that influence the value of your property prices that are within your control.

If you’re looking to sell, here are 9 things that can devalue your property and lower the selling price.

1. Too cluttered and poor presentation

Rule number one when selling your home: declutter and tidy up! A prospective buyer must be able to imagine their life in your home. This is impossible to do if the place is full of old photos, personal belongings, and unique furniture pieces.

Instead of imagining their dream home, they are unlikely to see past the clutter, and this could cause them to leave and never return. And if your home stays on the market for a long period, you’re unlikely to get the price you want.

2. Extravagant unique decor and bold colour palette

It’s important to keep things simple, and by that we mean:

  • Adopt neutral colour schemes.
  • Use furniture that fits
  • Remove decorations that are too extravagant or unique

We often think we have great taste, and while a navy blue and baby blue striped wall might express your personality, not every buyer will like it.

Ultimately, you want to present your home as a blank canvas onto which buyers can turn into their dream decor. Increase your chances of selling by using colours and decor that are more universally appealing.

3. Work on your home’s curb appeal

Get your curb appeal wrong and a potential buyer won’t even stop to have a look. You can help ensure that buyers want to enter your home by spending some time working on your curb appeal.

Some tips and ideas are:

  • Give the front door, old fences and window frames a coat of paint.
  • Purchase new house numbers, doorknobs, or knockers. Hose down and clean away any spiderwebs and be sure to clean your gutters.
  • Get rid of trash and debris.
  • Update your outdoor lighting.
  • Keep your grass and edges trimmed.
  • Tidy up your garden beds and add shrubs and plants if sparse.

First impressions begin to form the moment buyers see your property from the street, so getting it right is key.

4. Environmental and animal odours

According to the RSPCA, Australia has one of the highest rates of pet ownership in the world. About 63% of Australian households have pets, with dogs being the most common. There are an estimated 4.2 million pet dogs in the country and 3.3 million pet cats.

This shows that Australian’s clearly adore having fluffy companions, but no one loves the associated odours that may arise from the responsibility of having pets. Hitting potential buyers with pet odours as soon as they enter your home is an easy way to turn them off.

It’s easy to become accustomed to the smell, so bring in an impartial friend who will tell you the truth. So, you can then eliminate these smells by getting your carpets cleaned or replaced, etc.

Keep in mind that other odours can also create an unpleasant environment. Watch out for leakages, moisture, and mould. In addition, don’t decide to fertilise your garden with compost or manure when your home is about to go on or is on the property market.

5. Sub-par DIY renovations

In an age where the cost of trades and materials are at an all-time high, DIY improvements may be essential. A fresh coat of paint can transform a home, as can things like new light fixtures and bathroom fittings.

Unfortunately, shoddy paint jobs, uneven tiling and generally shonky handiwork won’t go unnoticed. Whatever work you do yourself, make sure it is done to a high standard. Anything outside of your DIY skills should really be left to a professional, as buyers are sure to notice all the corners that have been cut.

While some jobs can be done with a little effort and perseverance, be sure to always hire a qualified and licensed tradesman for any gas, electrical, plumbing or heating jobs.

6. Illegal home improvements

It goes without saying that if you want to make any home improvements that require local council approval, you need to get that approval. If you haven’t sought approval for work done on your home, this could cause problems when you try to sell it.

For example, if you’re considering selling a four-bedroom home, but only two of those rooms have been approved by the local council, once a buyer finds out, they’ll be able to renegotiate the price based on this, or even pull out of the contract entirely.

If an agent finds out, they won’t be able to market your property as a four-bedroom home, instead it can be marketed as a two-bedroom home with a studio and teen retreat.
Therefore, building without planning approval can make your home unsuitable for buyers, so do your due diligence and make sure any work on your home goes through proper planning and approvals.

7. A general state of disrepair or abandonment

Dirty grout, peeling paint, rundown garden sheds, sliding doors that don’t work, cracked concrete, and carpet so old they are wearing thin. Believe it or not, even if your property is in a prime suburb, these things can reduce the value of your home.

There’s reason real estate listings say a house is freshly painted or move-in ready – it’s because it’s been freshened up and those little things have probably been fixed.

Before you list, or even before hiring an agent, do your best to get your home ready for the market.

8. Outdated kitchens and bathrooms

If you’re looking to maximise your sale price, you should consider updating your kitchen (and your bathroom too, for good measure).

The three kitchen elements that are important to home buyers: benchtops, appliances, and cabinetry. If a complete overhaul is not in your budget, then you can replace taps, and give cabinets new handles or even a lick of paint.

If the rangehood and oven has become a grease catcher, then a thorough clean is in order.

When it comes to your bathroom, ensure all plumbing is in working order, repair any cracked tiles, clean or replace any discoloured grout. Also ensure cabinetry and vanities look as modern as possible.

If your home has older bathrooms, making sure it’s spotless and think about staging the room – it can make a world of difference.

9. Choosing the wrong agent

Most importantly choosing any agent without thorough research and a background check can be detrimental to your sale price.

A good agent has your interests at heart and will give you constructive advice throughout the process to give you the best results. A poor agent will not. So, choose your agent wisely…

Looking for a Reputable and Professional Real Estate Agent on the Gold Coast?

Remember experienced property managers can save you time, money, and headaches.

If you are looking for a experienced property manager with your best interests at heart – look no further than Paul Hill Realty Hope Island! You won’t find a team that is more respected, reliable, and trusted in residential property management.

Paul Hill Realty office is located at Hope Island, we manage residential properties anywhere on the Northern end of the Gold Coast. Paul Hill Realty Hope Island is your best choice in property management.

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Get in touch with one of our property managers at Paul Hill Realty Hope Island by calling 07 5577 1888.