PROPERTY NEWS – Top Causes of Devaluing a Home by James Fraser

CHECKLIST OF THINGS TO DO BEFORE PUTTING YOUR HOUSE ON THE MARKET.

Written by James Fraser for Cyprus in Style Magazine


Buying a house is generally the largest investment most people will make in their lifetime and it makes sense to maximise the value of your investment, especially when it is on the market. We all want to get the best possible price when selling our house, so it is essential to pay attention to the things that are most likely to have a negative impact on the property’s value.

We all design and decorate our home to suit our personal taste. However, survey after survey of purchasers has shown that bold colours and decoration, can in fact, put off buyers. This is because they can more easily imagine how their own belongings would fit into a space without distractions. Many interior designers will say that neutral decoration makes a space seem bigger as well. The NAEA (National Association of Estate Agents) recommends redecorating in neutral tones before you put your house on the market.

In the same vein, presentation is also one of the keys to a good and quick sale. We’ve included a checklist below of things to do before putting your house on the market:

CLEANLINESS

The house should be cleaned thoroughly and any outstanding DIY jobs finished off.

CLUTTER

Clutter should be cleared away. As a rule of thumb, remove one third of ornaments and photographs from shelves and display cabinets. This same rule should apply to your kitchen surfaces as well. If a home is clean and smells fresh and has lots of space, it has a much greater chance of selling quickly.

NATURAL LIGHT

It is generally agreed that we have more than enough sunlight here in Cyprus, so make the most of it. Dark and dingy rooms always seem small so let some light in. Start outside and make sure there are no trees or climbing plants obstructing the light from coming in, or the view of the Mediterranean sparkling away in the distance. Also, don’t forget to clean your windows and repair any splits in the flyscreens!

SWIMMING POOL

If you have a swimming pool, make sure it is in tip-top condition and looks crystal clean and inviting. Have a look at the liner. Is it faded and bleached and in need of replacement? If your pool is tiled, are any tiles chipped or cracked and need replacing? Remove limescale stains and try to clean the grouting as well. Swimming pools are usually a large feature of the outdoor space in Cyprus, so make sure it looks its best.

NEAT GARDEN

The same goes for the garden and outdoor entertaining areas. Make sure the garden is weed free, shrubs are pruned and leaves swept up. Replace faded outdoor furniture, cushions, pergolas and awnings.

GENERAL MAINTENANCE

The condition of the property is another important area to pay attention to, as poor maintenance has a significant effect on the value. Issues such as cracks in the walls, damp patches and flaking paint can adversely affect the value of the property and interest from potential buyers.

LEGAL

One of the biggest impacts on the value of your property is the legal side. If your title deeds have been issued, make sure you have an up-to-date copy. If your property does not have title deeds issued, do everything in your power to get them. If you completed any works during ownership, such as extensions or conversions, make sure you have the appropriate planning permissions and certificates of completion, and have access to these documents. If you do not have them, you may find that you have to pay for them retrospectively anyway, to agree a sale.

With current market conditions as they are in Cyprus, it is worth taking the time, trouble and expense to make sure your property is in great condition and ready to be marketed in order to maximise the value and interest from buyers.

Article by Guest Property Writer, James Fraser, for Cyprus in Style Magazine.