When selling your home or an investment property, you’ll want to maximise the total value and also aim to achieve the highest sale price. While amplifying what makes your home stand out, you’ll also have to be mindful of several factors that could decrease the property value. In this article, we’ll provide a guide on what to look out for.
1. What The Neighbourhood Is Like
Where the property is situated can affect the way the whole area is perceived. A suburb’s negative track record can instantly lower the property value and for towns with high crime or unemployment rates, it may be challenging to create a new image that potential buyers can appreciate.
2. Public Transport Options
By having quick access to public transport, you are able to bring up the property value by highlighting the convenient commute times and services nearby. However, being right next to a train station may also impact the cost of your home due to the ongoing noise and continuous traffic on the road.
3. Proximity To Amenities
Particularly for parents with kids, being far away from parks and schools can definitely reduce the property value. Residents will also want to conveniently find their shopping necessities therefore, investing within communities that are right by malls and supermarkets can give you the boost you need.
4. Bad Quality
While repairs are meant to improve the house’s design, cheap upgrades and poor exterior paint can damage the client’s first impression. You’ll want to make sure the interior design is appealing to all so removing unusual wallpapers and fixtures may be the way to go.
5. Needing Maintenance
An untidy garden or driveway can easily damage the way the home is seen and cause the selling price to drop. The backyard is also an important section where you’ll want to create an open and inviting space.
6. Lack Of Storage
Families will want to be assured that everyone has enough room to move in comfortably. With a shortage of cabinets and closets, the home may feel smaller and a lot more crowded than expected.
7. Pricey Interest Rates
Although the property could be ticking all the boxes, high-interest rates can turn clients away from finalising the sale. As monthly mortgage repayments quickly add up, the majority of buyers will want to stick within a specific budget.
8. Empty Street View
The absence of trees and plants along the street can make the location feel dull and colourless. Whereas, being surrounded by greenery and having a landscaped home can steadily build up the property value.
9. Not Environmentally Friendly
Clients are likely to prefer an energy-efficient home as it brings loads of benefits for the environment and fewer costs for occupants. Solar panels and double glazed windows can also help stabilise the house’s heating and cooling system.
10. Being Able To Renovate
Especially for houses with a larger land size, buyers will want to have the freedom to personalise the home and include the features they want. The potential to add in an outdoor swimming pool or an alfresco can make a huge difference.
How Can iBuildNew Help?
Building a new home and have a property that you need to sell during this process? iBuildNew recommends Agent Select. They are a property advisory service that organises FREE, no-obligation appraisals of your property, and provide you with a comparison report showing agent price estimates, commission and marketing fees, and the best agents in your area. To discuss further options, give us a call on 1800 184 284 or book a call online.
Let us do the legwork for you.
- We’ll ask the right questions to better understand your needs
- We’ll create a recommended shortlist ideally matched to you
- We’ll answer specific questions or concerns related to home building, land purchasing or financing
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