6 Things that Will Decrease the Value of your Property
If you’re planning on selling your home then it’s important you ask for a price that adequately reflects the worth of your house. You might feel your house is worth a lot more than your valuation is coming in at, but did you know there are many ways you can increase the value of your property? There are some key features that property buyers look out for in their new investment, so how does your house weigh up? 1) Location.Be wary of how much money you invest in sprucing up your home. Though in theory, adding another bedroom or bathroom should increase the value of your home, you need to be thinking about the location in which your house resides. If your property is in an undesirable area then chances are that renovating your home is going to do little to increase the value – especially if your house becomes too unique for the area. 2) Other properties in the neighbourhood.Unfortunately, living in close proximity to a council estate or even many rental properties can decrease the value of your property. There isn’t really too much you can do about this, just be aware that this is often the case, so if you live in such an area it’s best to get some advice about how much this could end up effecting your estimation. 3) Big repairs.If you have any big repairs that need servicing then be prepared to take a hit on your property value. Problems with your central heating, plumbing and even you roof can all contribute when it comes to losing property value. If you can, try to rectify these problems before putting your property on the market. People will be more likely to buy if less work is required! 4) Parking.Where people can put their car is a big factor when it comes to the value of a house. Parking on a road can raise the cost of your car insurance, and is definitely much less safe than parking in a garage or even on a driveway. Be aware that if your house isn’t equipped for cars that this could affect the estimation you’re given. 5) Extra features.If you’re selling a big home, chances are you’ve had many renovations and installations over the years. These might include things such as a swimming pool or air conditioning. Though you make think that this will increase the value of your home you may not necessarily be correct. Swimming pools are expensive and difficult to maintain, while air conditioning is a costly luxury. Not everyone will be willing to pay excess for these things, so be wary when it comes to selling, as your house might not be worth what you thought it might be! 6) The state of your house.For every viewing your house should be in immaculate condition. You want to make your home look as big, airy and comfortable as possible, so invest in some storage solutions to banish the clutter. Try to keep windows open to allow as much light in as possible. Prospective buyers are looking for a manageable space, so you need to show them how that can be achieved. Well-presented homes are always going to be worth more, both to those coming to view the house and to those who are valuing your property.