5 Things that can reduce the value of your property

When deciding to buy property in London, you should bear in mind that there are a few factors that can reduce the value. And although it may not seem important to you, these are simple things you need to be careful of so you can end up getting paid the right amount when it’s time to sell.

The first step is to determine the right value. You can get a valuation done by a few property agents in Dubai and real estate companies. Although they charge a small fee for the valuation, you end up knowing the correct market value, which you can sell at the same price or slightly higher.

However, not everyone can be good at selling, so if you’re unsure about your sales skills, here are some points to note when showing your property to a buyer.

●Ensure that it is maintained regularly, and it is in a good state.

●Ensure your premises smell good.

●Make sure its well-lit and not too dark.

Factors that can reduce the value of property

Smoking

According to a recent survey, the value of your property can go down by up to 30% if there has been a lot of smoking within the premises. It also stated that one out of four home buyers wouldn’t buy a home owned by a smoker.

Development Projects

Investing in poor development projects can lead to losses, so make sure to take in consideration the project details and scope before proceeding. Also seek professional advice, so you don’t lose money when you decide to sell on the market.

Selling at auctions

If you have decided to sell at an auction, think again. Although it may seem profitable, you may end up getting paid less than what you could have fetched selling on the open market.

Selling to quick home buyers

Beware of any company, or buyer that makes big promises to buy any type of property quickly at market price or entirely with cash. Because the price that their agent will value your house is possibly lesser than the REAL market price. Also look out for hidden charges and other terms and conditions which they may impose on you during the deal.

Complexity of the Market

With so many people venturing into the real estate market, selling properties has become even more complex. This has in turn caused an increase in some of the most common selling problems a typical seller faces.

Poor schools

Most buyers with children will probably be looking for a home reasonably close to good schools. A lack of access to good local schools may cause the property value to decrease, so be aware of the best local schools in your area.

Noise pollution

It is not always the neighbors who cause noise pollution, sometimes proximity to transport routes might be a problem for a lot of people. Try insulating the home, to reduce noise and schedule viewings outside of peak ours.

If you want to get good money for your property, and guard against things that can cause a reduction in value, take these factors into consideration.

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