Is your property undesirable to purchasers?

By Cameron Micallef

July 31 2019
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Aussie home owners should be wary of potential property turn-offs before putting their property on the market, according to new research.

Asbestos and a suburb’s crime rate top a new list, according to comparison site Finder.

More than six in 10 (64 per cent) Australians have admitted in the survey that they would reject a home if it had been built using potentially harmful materials.

The same amount of respondents said a suburb’s high crime rate would turn them away, while a comparable number (61 per cent) indicated that they would rule out a property if it has an odour.

Finder’s money expert, Bessie Hassan, said common turn-offs could be costing investors, due to the potential to shave thousands off a property’s value.

She said, “Buyers can nab a bargain if they’re prepared to think outside the box when coming up with solutions to property bugbears.”

More than half of respondents also refuse to live near a noisy bar or pub, or in a location with bad parking, while others indicated the undesirability of living on a main road.

Ms Hassan conceded that “there’s nothing you can do about living on a main road, but installing high fencing or soundproofing can work wonders”.

Living in close proximity to an industrial estate, flight paths or a brothel also all made the list of undesirable locations.

Ms Hassan urged buyers to be practical when looking for a property.

“Sometimes there’s only so much you can do to improve a property. If you can’t think of a reasonable way to fix it, then it’s best to keep looking,” she offered.

Making a home real estate ready

Finder has offered up a number of ways to improve the desirability of your property:

– Replace the carpets. These absorb years of dirt, stains and general grime, which can start to smell and look shabby over time.

– Spruce up the halls with a fresh coat of paint. Not only will this hide dirt and scuff marks, a lighter colour can transform a dingy space.

– Get your green thumb on. Despite not making Finder’s list, having a scraggly and unkempt garden can also be off-putting for potential buyers. Mow the lawn, pull out any weeds and clear leaf matter out of the gutters.

– Use a high-pressure hose. For houses made of brick, this is a simple yet effective way to get rid of any dirt or moss that has built up over the years.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

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