PROPERTY experts reveal common mistakes that can cut your home’s value in half. This includes failed DIY projects.
When preparing to sell a property, homeowners may think of ways to add value, such as hastily painting the walls.
But it’s just as important to consider whether a particular feature actually does the opposite, potentially dropping prices by a whopping 50% in some cases.
“When selling your home, always be aware of features that can be ‘deal-breaking’ for potential buyers.
“First impressions are important when selling a home, so take the time and effort to make sure the property looks great and is free of minor imperfections that can be fixed.”
mildew and humidity
Mild cases of mold are unlikely to significantly affect the value of your property, but very severe cases can.
This is explained to occur because potential buyers realize that there are jobs that need fixing after purchase.
“In the most severe cases, mold can reduce the value by up to 50%.
“If you act quickly, you can get rid of mold with dehumidifiers and anti-mold paints.”
Once the underlying problem has been addressed, a combination of heat and good ventilation can be used to remove excess moisture present on the surface.
Lack of curb appeal
As a potential buyer, few things compare to the disappointment of coming in to see and being introduced to a poorly maintained, poorly maintained property.
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An expert explains:
“Try to give the outside of the house some TLC before inviting the buyer to visit.”
It’s not just what the buyer sees that makes the big difference. The same goes for unpleasant odors.
“Prolonged pet odors can have a negative impact on home prices as many people find them offensive.
“Neutralize pet odors with a special detergent and ask a friend or neighbor to check to see if the odor is gone,” advised the real estate guru.
Not Enough Energy Efficient
Unlike the majority of previous owners, modern buyers tend to be more eco-friendly and the energy efficiency of a place is very important to them.
So if your property’s single glazing and poor insulation are degrading your Energy Performance Certificate (EPC) rating, they are also significantly devaluing it.
“Improving energy efficiency is relatively easy.
“For example, you can install insulation or lagging jackets, switch to energy efficient light bulbs, or upgrade your boiler if you have extra money.”
Who doesn’t like a fun DIY project?
Potential buyers may not appreciate your artwork, experts say.
“Although this method provides a quick solution, the risky maintenance job gives buyers a reason to bargain for a lower price.”