Why is it that some properties hit the market and sell within days and some sit there for months on end and really struggle to sell?
For the most part, properties that don’t sell will likely have one or more major issues that stop them from being attractive to buyers – who are generally owner-occupiers, who want to live in the property.
If a property doesn’t stack up then it could be hard to sell and most likely won’t attract a premium price when it eventually does.
What are the top three things that put buyers off a property?
We all know that location is important in property, but oftentimes location means more than just what suburb the property is in.
A good property needs to have an attractive location within a suburb.
No one wants to really live on a busy road, next to schools, shopping centres or apartment buildings . It’s noisy and lacks privacy as well. Many people also don’t want their neighbours to be able to see into the home, or even into their backyard.
So it’s vital that you find a property that meets those levels of expectation.
The aspect of a property and the amount of natural light it gets is incredibly important to buyers.
People love to be able to get outside or sit on their balcony. They also hate dark spaces and want light in the main living areas. So south-facing living or rear yards where it’s constantly in the shade and you can’t really enjoy that outdoor space will often put buyers off.
At the moment we’re seeing a lot of people who want open plan living. They want the kitchen opening into the living/dining, then looking out onto the backyard so they can see their kids and interact as a family. And then obviously your bedrooms in a separate part of the household so it’s segregated.
I believe it’s one of the most important aspects to a property right now, especially for younger families with younger kids. Parents want to be able to be in the kitchen cooking or having a chat and can see their kids in the pool. There’s also a safety issue around that as well which is important.
Old, outdated floor plans aren’t as appealing to buyers while properties that are well laid out attract plenty of interest from buyers.
When buying a property either for yourself or as an investment, it’s critical to think about why another buyer would purchase that property at some point in the future.
Ideally, you want to own a property that has buyers lining up to take it off your hands. Don’t give them a reason to be put off because that will limit the pool of buyers and therefore the price you’ll ultimately get for it.