There are many ways homeowners can increase the value of their home when it’s time to sell. However, some improvements might end up knocking thousands of dollars off the price tag, while other factors beyond your control can also have an impact. If you’re planning to sell, it’s well worth checking out the following 9 things that will devalue your home.
Some issues you can control and a bad odor is a relatively easy one, though you might have to change your lifestyle while your home is on the market. Bad smells are typically linked to pets, so if you’ve become accustomed to the whiff of your furry friends, ask an impartial friend for an honest opinion. Combat bad smells by removing the source of the odor, giving everything a good clean, and filling your home with more pleasant scents, such as freshly baked bread.
Trying to save a few bucks? Many of us carry out DIY renovations if time allows, but it’s important to understand the limitations of your skillset. Don’t take on renovations that you can’t handle, as the finished result is unlikely to be anything other than shoddy. If in doubt, call in the professionals, otherwise, unless you’re a tradesperson yourself, keep it simple!
Clutter and Mess
Rule number one when selling your home: tidy up and declutter! A prospective buyer needs to imagine their life in your home. This is impossible to do if the place is filled to the brim with your old photos, personal belongings, and furniture. Rather than envisioning their dream home, it’s unlikely they’ll see beyond the mess, and that might make them walk away and never return. And if your house stays on the market for too long, you’re unlikely to get the price you want.
Rule number two when selling your house; bold colors and designs are for living with, neutral colors are for selling. We all have great taste and a sense of design, and when it’s your home, you should let your personality shine. But when you’re selling, it’s no longer yours, so keep it simple, and again, allow buyers to envision their life in your home, something they can do much more easily if the color scheme isn’t loud and distracting.
Proximity to a Major Transport Link
If you live near a major airport, train line, or highway, chances are the value of your property is going to be lower than the same home further away. Unfortunately, there’s little to be done about it, as buyers are put off by the noise and pollution associated with such features.
Illegal Home Improvements
Eager DIYers or those skimping on a good contractor might be tempted to carry out renovations and improvements without first obtaining permission from the local council. While this might seem like a great money and time-saving scheme, when you’re selling your home there’s a high chance it’ll come back to bite you. Home appraisers, inspectors, and real estate agents will want to see a paper trail for all the work done, and if this cannot be provided you could suffer. For example, if you built your own extension, transforming your 2-bed home into a 4-bed one, a realtor could only list it as 2 bedroom house.
Any home that needs work is a turn off for most buyers, who are typically looking for a turnkey home. If your home is in a poor state of repair, it could shave thousands of dollars from the price tag, as buyers begin to budget for the necessary repair work they’ll need to take on after buying. So try to keep up with the regular maintenance tasks that keep your home in the best condition.
Kitchen and Bathroom Blunders
It’s wise to ensure your kitchen and bathroom are in a good state when selling, as these are the 2 areas buyers look at most. However, if yours are outdated or in a state of disrepair, it’ll cost you when it comes to selling. You don’t necessarily have to remodel, but a good clean, and maybe new cabinet doors will help. Few things turn buyers off more than a dirty kitchen that they’ll see as more work for when they move in. If you do decide to remodel, remember that counter space, a good number of cabinets and nice appliances are what buyers are after. Just keep it mid-range, rather than high end.
Poor Curb Appeal
The first thing buyers will see as they roll up to your house is your curb appeal. If it’s not up to scratch, they might not even make it to the door! Keep your yard clean and tidy, and ensure there’s no major damage that’s likely to put people off.