5 Things That Can Damage A Property’s Value
Any property owner is always looking for little projects to do in or around the buildings they own. However, how can you be sure that what you are doing is actually improving your property? Even the smallest of DIY projects around your home can massively affect the value of your property. Subsequently, thus resale value is going to impact the next property that you can afford. When looking to resell, you would like to think your property has gained value so that you can move into a bigger place or to a nicer area. Therefore, you do not want to do anything that is going to hurt this value in your time there.
So, what is likely to cause your property value to dip? Read on to find out.
One of the deciding factors that can decide whether you or another prospective buyer decides to buy a property is the fact that you can picture yourself living there. Unfortunately, you will have a hard time picturing a happy life somewhere if it is plagued with unpleasant smells.
You can become nose blind to the common scents around your home after living there for a while. This means that you may not be aware of any negative smells that could be damaging other people’s perception of your property. unpleasant smells can arise from blocked drains in the local area or dampness seeping into your home. Therefore, you may want to look for any evidence of these occurrences before you put your property on the market. You should aim to fix any issues that you find before these unpleasant odours can damage the value of your property. you may have noticed that other property sellers bake or buy air fresheners before they have a property viewing. This is for the same reason. They are trying to mask any unpleasant smells or create a welcome association with prospective buyers.
Once you have moved into your current property, you will start to decorate it in a way that you see fit. However, the home decoration that suits your tastes may not suit another person. Remember that property buyers want to buy a place that they can see themselves living in. The people that buy your home will want to either start decorating with their own style. They do not want to have to live with or remove any decoration work that is too garish. The money that they plan on using to redecorate may be taken off any offers they make for your house. This means that your property can lose value if you have too much unsightly décor in your home like brightly painted walls or poorly laid wallpaper. You should consider stripping your wall décor back to basics before you put your home on the market. White walls and bare floors can leave a lot to the buyer’s imagination.
The UK is a bustling grove of rural treasures. Even London is so populated with trees that it is defined as an urban forest. Therefore, you shouldn’t be shocked to find that a lot f properties come with plenty of trees on their grounds. Unfortunately, not all trees can be beneficial to your property.
While a few trees can make your property appear more visually appealing, having these plants too close to the house could damage the value of your property. A tree’s roots and branches can extend extremely far. These long-reaching appendages can do damage to the exterior of your property or cause subsidence. No one wants to deal with the cost of repairing a sinking home in the future which is why you will want to do a tree survey on your property before you put your home on the market. The results of these surveys will inform you of what trees to keep and which ones you should dispose of if you are looking to sell your home for a worthy price.
If you are unfamiliar with the term curb appeal, you can consider it as the first impression that a prospective buyer will have of your property. You don’t want to turn onto your street and see a dilapidated property that looks as if it is about to fall down.
That is why you should take extra care to make the outside of your property look appealing when you are selling your house. This means that you will want to address the paint job, your lawn, and any gates or fences surrounding the property. It may also help if you do not park any large vehicles directly in front of your home. The moment a prospective buyer first pulls up to your house is going to have a big impact, so make sure that you make this first impression worth it.
Finish Your DIY Projects
The DIY bug can bite you at any time. You have probably been struck by a sudden burst of inspiration and begun a DIY project only for that inspiration to fade. You keep telling yourself that you will get back to your unfinished project, but you never do. This is a perfectly natural part of home ownership, but it can lead to walls without wallpaper, uncarpeted floors, or missing ceiling lamps.
These unfinished DIY projects are going to be instantly noticeable to anyone looking around your property. Again, anything unfinished is only going to add to the list of things the new owner is going to have to address. Therefore, they may deduct these costs from the asking price. Try and finish any DIY projects that you are yet to finish to get the most out of your property value. You can spend a weekend doing this yourself but there is no shame in hiring a professional to perform these little touch-ups. We all know that DIY inspiration doesn’t last forever.
Anything in your home that is likely to greatly damage your property’s value should be fairly obvious to you. However, it doesn’t hurt to address these smaller issues when you can.