This month’s blog at Matthews Benjamin Estate Agents looks at some factors that can decrease your property’s value. For information, contact our team.
The value of your property can be affected by many factors. Some of these are out of your control, while others could be resolved. Knowing what these factors are can help you make informed decisions and take steps to protect your investment.
At Matthews Benjamin Estate Agents, this month’s blog looks at some of the key factors that can decrease the value of your property. For information, don’t hesitate to contact our team.
Homes that show signs of neglect such as peeling paint, broken fixtures, or overgrown gardens. Poor property maintenance gives the impression that the property hasn’t been cared for, which means buyers will likely wonder about hidden problems.
Regular maintenance checks and repairs to visible damage is essential to help maintain ‘kerb appeal’.
These are two major issues and will most likely put buyers off. Damp and mould indicate underlying structural or ventilation issues and can cause serious health problems. Additionally, untreated damp and mould can reduce the value of your home by up to 53%.
To effectively treat damp in your house, you need to identify the source of moisture. Some ways to treat damp are:
Making improvements to your home can increase its value, but only if it is done properly. If you have had work carried out without proper approvals, you may put buyers off.
Work such as extensions, loft conversions and other alterations that lack planning permission or fail to meet building regulations can cause hassle that requires more paperwork. Prior to any renovations, always consult with local planning authorities.
Living near busy roads, a school or neighbours can cause noise pollution, which can affect your home’s appeal. Excessive noise is a major deterrent for many buyers and can lead to lower offers.
Soundproofing measures such as double-glazed windows and planting tall hedges in your garden can reduce the impact of noise.
Invasive plants such as Japanese Knotweed are known for damaging foundations as it can grow through them. Japanese Knotweed can grow as large as 15ft deep and lay dormant for years before a growth spurt.
This can seriously harm your house value and mortgage application. If you suspect Japanese Knotweed or any other invasive plants on your property, it is important you seek a professional.
If you require further advice for selling your home, don’t hesitate to contact our team at Matthews Benjamin. We are on hand to discuss any queries you may have.