When homeowners are preparing to sell their house they might think of various steps they could take that might increase its value, such as converting unused space to a new room. But another important factor you need to consider is how certain existing features might actually decrease the value of a home, making it harder to find a buyer at the price you’re seeking. Speaking exclusively to Express.co.uk, Emily Snape, a spokesperson at Lovespace, has shared five features that massively devalue a home.
She explained: “When selling your home, always look out for the features which may be ‘deal-breakers’ for potential buyers.
“First impressions are important when selling your home, so put in time and effort to make sure the property is presentable and any small flaws which can be fixed, are.”
1. Mould or damp
While mild cases of mould are unlikely to affect a property’s value too dramatically, very severe cases can.
This happens because potential buyers will see it as a job that needs fixing after the purchase. This usually means that the value will drop by at least the value of the work.
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Even if a buyer can find a way past the rubbish and leaves on the pathway and peeling woodwork, it’s unlikely they will want to pay full price for something that will need a great deal of their own tender loving care.
3. Pet smells
Odours are an important problem that need to be fixed before attempting to sell a house. Not only are odours very obvious when buyers first enter a home, they are usually very difficult to get rid of.
Home buyers know this and could immediately scratch your house off their list. Although getting rid of odours the right way might mean making an investment, the benefit and resulting resale value are well worth it.
The property pro said: “Lingering pet odours can be detrimental to the price of a house as many people find it off-putting. Neutralise pet smells with specialised cleaning products and ask a friend or neighbour to come over to check if the odour has gone.
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4. Not energy efficient enough
Buyers in this day and age are far more environmentally friendly than any other buyers before them.
They place energy efficiency high on their property wish list, also, because most like to know that a property will not cost too much to run.
So, if your property’s single glazed windows and poor insulation are driving down its Energy Performance Certificate (EPC) rating, they’ll also be driving down its value.
Emily explained: “Amid the current energy crisis, many people are prioritising energy efficiency ratings as a crucial consideration when planning to move house.
“Improving energy efficiency can be relatively easy. For example, you can install insulation or lagging jackets, switch to energy-saving light bulbs or if you have spare cash, upgrade your boiler.”
5. DIY repairs
Most people start a DIY home renovation project with the idea that they are going to add value to their property. However, while the jobs can be exciting challenges, they can also end up a disaster that devalues the home.
A very common mistake people try to take on is a DIY project that is too large, such as building a deck or an addition to the house.
The property expert said: “Most homeowners have done a fair share of DIY repairs on the house to save money and avoid hiring a professional to carry out these tasks. Although this method provides a quick fix, dodgy maintenance jobs give the buyers grounds to negotiate for a cheaper price.”
Even for those who have great carpentry skills, it often takes a professional with knowledge of design to execute the project or ensure the addition is level.
If not done properly, these types of projects can depreciate a house and leave sellers worse off. Emily advised: “For a professional finish, it might be worth getting these renovations redone.”
