When it comes to buying or selling property in Perth, numerous factors come into play that can significantly impact the property value and the achievable sale price. While some elements, such as the property's size, land size, and location, are beyond your control, others can be managed to enhance the property's value.
In this blog post, we'll help you uncover and avoid these hidden traps that can devalue a property and provide valuable insights to help you navigate the real estate landscape with confidence.
DIY Renovations:
In the quest to save money, many homeowners opt for do-it-yourself (DIY) renovations. While minor tasks like gardening and cleaning can be tackled by the owner, it's crucial to exercise caution when it comes to significant projects. Any DIY renovations, such as painting, tiling, or property modifications, completed to an unprofessional standard may deter potential buyers. Engaging qualified and licensed professionals for major tasks like building, electrical, painting, plumbing, or heating repairs is essential to maintain the property's value.
Illegal Home Improvements:
Structural improvements can add value, but obtaining the correct building or development approvals from the council is paramount. Failure to secure necessary approvals for extensions, new constructions like jetties or pools, can not only affect the sale and sale price but might lead to a collapsed contract. Ensure all approvals are in place to avoid these pitfalls.
General State of Repair:
The overall state of the property, from dirty grout to unpleasant odours and outdated furnishings, can impact the sale price. Conducting a thorough spring clean, addressing maintenance issues, and updating the property's decor can significantly enhance its appeal. Consider professional services like property styling and furniture hire to showcase your property in the best light, potentially adding substantial value to the list price.
Curbside Appeal:
First impressions matter, and curbside appeal plays a crucial role in attracting potential buyers. Neglecting the external presentation of the property can result in missed opportunities. Invest time in enhancing external areas, including painting, pressure cleaning driveways, and addressing small details like a new front door or house number. A well-presented exterior creates an inviting atmosphere that encourages inquiries from interested buyers.
Navigating the complexities of property value requires a keen understanding of potential pitfalls. By avoiding DIY pitfalls, ensuring legal compliance for structural changes, maintaining the property in top condition, and enhancing curbside appeal, you'll position your property for success in the competitive Perth real estate market.
For a seamless property transaction, trust Adaptive Settlements, your partner in conveyancing excellence in Western Australia.
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