Home issues that can devalue your property by 20% – how to avoid them

Owners who sell their property obviously want to get the best price possible. While some home features can increase property value, others have the opposite effect. To help homeowners, a real estate expert from Sell House Fast has shared several issues that can reduce the value of your home, so you can avoid losing value.

So what devalues ​​a house?

A messy exterior

Curb appeal is one of the most important things when it comes to selling your home fast.

Failing to give your home that “appeal,” potential buyers might not be interested in booking a viewing and walking through the door.

According to a survey by Barclays Mortgages, house hunters take just 10 seconds to decide if they like a property by looking at its exterior facade.

Interestingly, the research found that 44% of people said they would try to reduce the asking price of a property by 10-20% if it looked unattractive from the outside.

As a result, Sell House Fast property expert Tamir Davis suggested, “It’s a good idea to tidy up the exterior of your home to make sure it looks its best.

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“This may include adding a fresh coat of paint, adding a potted plant or hanging basket, mowing the lawn, washing windows and removing trash cans from the front. of your house.”

Over the course of renovation and customization

Contrary to popular belief, there are several home renovations that could reduce home value without realizing it.

The expert said: “There is such a thing that over-improving your property and making the wrong kind of ‘improvements’ can be detrimental to your home and inevitably deter potential buyers.”

Therefore, before owners set about making changes to their property, it is a good idea to see what increases the value of the property rather than decreasing it.

Tamir cautioned: “If you want to make changes to your property, it’s a good idea to keep it simple and not over-extend or over-customise, as this can be a major hurdle for potential buyers.”

For example, some changes that may be problematic may be turning a double bedroom into two single bedrooms or adding AstroTurf to the lawn.

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Low efficiency rating

Energy energy efficiency ratings have grown significantly in importance to buyers since the introduction of energy performance certificates.

Since April 2018, it is forbidden to rent a property with a bad energy efficiency rating (anything less than an “E” rating).

While this won’t impact those buying a home, it may discourage buyers looking to buy and rent the property.

So potential buyers may decide to offer a reduced deal instead, as some buyers may realize the lack of energy efficiency as money wasted in higher energy bills once they move in. .

According to Money Supermarket, there is a correlation between a better energy efficiency rating and a better house price.

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“If your home is overcrowded with furniture and/or clutter, it’s a good idea to have a vacuum, or at least put some items in a self-storage unit to keep them safe while you market. the property.”

Poor decorating choices can often be overlooked by potential homeowners, but if they can’t imagine living there with their family and their own furniture, why would they consider making an offer?

All outstanding domestic issues

Before selling a home, it’s a good idea to have your home surveyed to see if there are any issues that may need to be fixed before selling.

By doing this before your home goes on the market, you won’t have any nasty surprises when investigating your buyer and buyers will have less reason to bid below the asking price.

For example, if there are signs of subsidence on your property or Japanese knotweed growing in the garden (or at a neighbour’s), this will need to be addressed or clearly marked.

It can also have a huge impact on the value of a home, as this invasive plant can wreak havoc on properties.

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