5 Common buyer dealbreakers that could slash your property’s value
When selling a property, you want to maximise every penny you can achieve from the sale. Yet you could be turning buyers off and risk losing thousands of pounds from your final selling price without even realising.
Many factors can turn off buyers, from clutter to poor cleanliness, and a lack of storage space to suspicious smells. However, some can impact your final selling price more than others. Five of the worst include:
1 Failing to fix maintenance issues
In the process of cleaning and decluttering, you’ll have seen, or been reminded of, the list of odd jobs that need doing in your property. These may seem minor, a dripping tap or mouldy sealant, for example. The challenge is that left unsolved such maintenance issues begin to give the impression of a neglected property. That can cost you dearly, especially in key selling rooms such as bathrooms and kitchens where such odd jobs might prompt a potential buyer to consider the need for a new refit. More pressing problems, such as a damaged roof, should be urgently addressed since they will be revealed at the survey stage if not before and will be a definite reason for a potential buyer to try to negotiate a lower price.
2 Not addressing damp or mould problems
Damp and mould are likely to send buyers fleeing, fearful of the bills and health hazards they might represent, especially if it means structural damage may also be present. Damp and mould must be eradicated even before you list your property, and you should make sure such measures last to ensure the problem doesn’t come back mid-sale.
3 A lack of energy efficiency
Property buyers are looking for energy-efficient homes to ensure compliance with changing legislation, as well as do their bit for the environment and save cash. A rumbling, antiquated boiler will have them yearning for a new more energy-efficient version and they’ll tackle your pricing to reflect that. Measures such as double glazing and good insulation will show that you take energy efficiency seriously and are more likely to impress would-be buyers.
4 The risk of flooding
According to the Environmental Protection Agency, one in six properties in England is at risk of flooding. If your property is on a flood plain buyers will soon find out. It’s better to be open about such risks from the start.
5 Poor presentation of outside space
You might have staged your property inside but forgetting to do the same with your outside space can also impact your price. It gives a negative impression before a potential buyer has even stepped inside and for this reason you could lose potential buyers even before a viewing. A neglected garden could feel overwhelming and expensive to sort even though it may just need a mow and a prune. Even failing to maximise the impact of a small courtyard space could cost you that sale.
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