Fixing up your property brings a lot of self-satisfaction, but your completed renovations may not be increasing the value of your property. There are some renovations and property changes that can really reduce its value.
As the property owner you may think that some of the trees on your property have just got to go. You don’t find them attractive and that big old tree is blocking your view or not letting the sunshine in the way you would like. This is your opinion but in reality that big old tree could be adding up to $15,000 in value to your property.
Everyone perceives trees differently. Unless the tree is causing some negative aspect to your property it is best left alone. If it is causing a nuisance such as clogging up your gutters or causing structural damage to your building then you may have no choice but to take action such as removing it.
Using good judgement with your fittings:
You should be able to take great pride in your property and want it to look its best. Doing this you may think will bring you top price when you put it on the market. The issue is if the surrounding property is in poor condition it is going to have an adverse effect on your property price. Don’t invest in expensive fittings in the hopes it will drive the price up of your property. Interested buyers focus on how roomy and bright the property is. They want sound structures that have no issues. These are the property attributes that they don’t mind paying for. Paying high prices for fittings is not going to allow you to recoup your money on this. Using Australian products reasonably priced is a wise choice.
Your do it yourself failures:
While a DIY attempt is often done to save money it can end up costing you. Especially if you have done the wiring and plumbing yourself. If done wrong this may be noted in a home inspection which could devaluate your property. Leave the repairs to the experts.
Be really careful with your extensions. If they end up looking like an add-on and don’t compliment the rest of the building, then it is going to decrease the value of your property. The reduction in the property’s worth can be substantial.
Not planning the aesthetics of the exterior of your property so it is appealing can also create devaluation of the property.
The value of outdoor space:
New homes are being built with outdoor living being important. Making your property presentable and inviting in regards to the outdoor space can boost its value. Things like it being clean and showing that it has good potential for enjoying the outdoor space is what you want to focus on.
Ensure that none of the structural work or that requiring a permit has been carried out. This often leads to work not being done property and it can become evident in a pre-purchase inspection. The same applies to kitchen and bathroom work.