As a nation, we’re obsessed with property. According to research by a major building society, more than half of all people will spend money on home improvements in any given year. Hardware shops are full of enthusiastic DIYers and builders have never had more work. But underneath all the enthusiasm are some issues which continue to rear their ugly heads and destroy the resale value of our homes. So what are they? Take a look at these most common problems that can cause your home to sell for less than you’d like.
Illegal Home Improvements
You might think that carrying out home improvements would increase the value of your home – and in most cases they do. But according to real estate expert Dean Sanderson, some people don’t bother to get planning permission first, opening up a whole can of worms for anybody foolish enough to buy. If a property has had illegal changes made, he says, then buyers will have to factor in the costs of resolving any issues highlighted by the authorities.
Neglecting The Exterior Of Your Home
When it comes to resale value, keeping up appearances on the exterior of your home matters. Regardless of how beautiful and tidy your home is on the inside, buyers will judge your home by what it looks like from the street and make their decisions accordingly. Research by Halifax suggests that homes that don’t keep up appearances can lose up to 5 percent of their value, despite the fact that many problems are purely cosmetic. Halifax recommends that people clean their windows, tidy up their front gardens and apply a fresh coat of paint to lure in buyers and get the price they want.
A Termite Infestation
Termites, according to Terminix, a termite control company, can eat through wood in a matter of days and cause thousands of dollars worth of damage to your home. Not only are termites gross, but they are also seen as a serious problem by buyers that is difficult to resolve. Usually, owners of termite-infested homes have to lower the selling price much more than the cost of dealing with the problem, meaning that it’s always more cost-effective to hire the professionals before putting the property on the market.
Your Dog Smells
There’s no denying it: dogs smell. But some homes have more of a “dog smell” than others, according to research. This dog smell can really put buyers off as they imagine that it will stick around, even after you and your dogs are long gone.
Around 40 percent of people own a cat or a dog. In most cases, the presence of a large pet makes no difference whatsoever to the value of your home. But if you’ve got a lot of animals everywhere and it seems as if your house has been taken over by pets, then it can put potential buyers off. According to research by Halifax, houses which are overrun by pets can lose up to 5 percent of their value. On a $400,000 home, that’s $20,000, meaning that it might be worth sending your pets to a relative’s house if you’re having viewings.