Every homeowner aspires to receive a high return on their investment when selling their property. Yet, various problems can result in offers much lower than the asking price.
If you’re looking to put your property back on the market, you may choose to make some improvements to increase its value and sell it at a faster rate. Before you turn to an estate agent, check out the top 5 issues that can reduce a property’s value and their solutions below.
1. Structural or Water Damage
Property surveyors and prospective buyers will analyse your home for various faults and flaws during a viewing. If they happen to identify large cracks in your foundation, or mould or damp patches, it may result in a lower property value or limited offers on your home. An estate agent must inform all potential buyers of such issues, including structural or water damage.
Protect your property’s value by improving structural issues or water damage within your home. If necessary, a mould removal service can eliminate all mould on your walls and ceiling. Plus, it can prevent the issue from returning in the future.
2. Japanese Knotweed
Japanese knotweed can dramatically reduce your home’s value. As the plant isn’t native to the UK, it can prove harmful to many of the country’s native plants, insects, and fungi. Remove any signs of Japanese knotweed from your home immediately to protect its value and avoid legal repercussions. Homeowners found with Japanese knotweed growing on their property may face large fines under the Anti-social Behaviour, Crime and Policing Act.
Remove Japanese knotweed by destroying the canes to prevent re-growth. You must also apply a glyphosate weed killer and use a pitchfork to dig out the plant 7 days later. If this doesn’t work, don’t hesitate to contact a professional to banish the problem.
3. Poor Aesthetics
Most buyers struggle to look past outdated décor or shabby furniture. However, if you want to receive offers above the asking price, you must aim to create a timeless, attractive interior design.
Stick with neutral colour schemes, avoid bold hues and prints, and don’t over-personalise your home. A neutral display can help the buyer see beyond your interior design choices and imagine their own life in the property.
It might shock you to learn that owning a pet could reduce your property value by 5%. As dogs and cats are prone to scratching, chewing, biting and walking inside with their dirty paws, your pet may deter potential buyers from placing an offer.
While the solution isn’t to say goodbye to your much-loved pet, you must consider how you care for your home. For example, you might need to organise a professional deep cleaning service before house viewings to remove unwanted stains and odours. You could also ask a friend or family member who doesn’t live with you to walk in the property and provide their honest opinion on its scent and aesthetics.