10 things that might affect the value of your home

List with multiple agents

Sellers listing with multiple agencies is something that is common in Dubai but not in most property markets around the world and there is a good reason behind that. Listing a property with multiple agents can confuse potential buyers or tenants and also send out mixed messages to the market. It makes the owner seem to be in more of a 'desperate' position and invites lower offers or even one buyer offering through multiple agencies. Listing with one agency gives a seller a lot more control, gives one message to the market, one place of negotiation, one trusting relationship to build with an agent and results in an agent working hard to represent the seller in the best possible way. 

10 things that might affect the value of your home - Allsopp & AllsoppMake viewings difficult

When it comes to selling or leasing a home, viewings are essential - we're now offering virtual viewings too. If viewing times are minimal, it makes it difficult for agents to get people through the door and can lead to the property being on the market for longer than it needs to be. 

Try to market their property at a higher price in the beginning

Sometimes owners will approach selling their property at a higher level with the mindset of 'testing' the market for a few weeks and then reducing the price if they need to. Whilst it is tempting to see whether you can get more money, there is a very good chance it can lead to the opposite. The risk is that the property sits on the market, which means it will take a seller longer to sell, but also there is the risk that the property gets a reputation in the market of having been on for a while and of having price reductions. This can give a negative impression to potential buyers and either put them off viewing, or if they do view and are interested, lead them to coming in with lower offers.

Clutter

When potential buyers come to view your home, it is essential to clear the clutter to make your property look as clean and spacious as possible. Clutter tends to make rooms look smaller and can take attention away from features in the property that are a huge selling point. 

Elaborate decor

Wallpaper and brightly coloured walls can be a real turn-off for prospective buyers. In some cases, buyers can be put off completely by aesthetics and disregard the property - they can't see past the decor to imagine the home as their own. 

Not keeping on top of maintenance

When it's time to sell, an owner should preen their property. Paint the walls, re-grout the bathrooms, get those little snags fixed so potential buyers don't see these as a negative. Get the property deep cleaned and brighten everything up - appearance is everything. 

Removal of bedroom

Removing a bedroom by knocking down a wall to make a larger bedroom can devalue the home. When owners start eliminating bedroom space, they’ve completely changed the comparable value of their home in the neighborhood. 

Not landscaping the garden or letting garden grow out of control

Kerb appeal is so important when selling or leasing a property and in some cases, a garden is the first thing a potential buyer or tenant will see. If a garden is left unkempt, it can have a hugely negative effect. Clients see this as a big job and something that they would have to look past before they consider themselves living there. An overgrown or non-landscaped garden can devalue a home especially if the others in the community are kept well.  

Niche renovations - removal of bathtub and having only open shower

Removing a bathtub or wardrobe space can be detrimental to the value of a home. Some buyers like to have the option of a fully functional bathroom and nearly everyone has storage space at the top of their 'essential property attributes' list. Taking this away to extend the space in a room or to extend a bathroom can turn potential buyers away. 

Low quality extensions

Adding an extension to a property often adds value, however, if you add an extension which is low quality, this can sometimes have the opposite effect and can look like an annex and an eye-sore when looking at the property from the outside.