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Thinking of selling? Here are the top 10 things turning buyers away and what you can do to fix them.
Sellers might think they need to spend thousands upgrading the kitchen or bathroom, but they are better off making small improvements instead - like fixing damp and improving lighting.
This is according to a new national survey, conducted by Pureprofile for Mozo.com.au, which has revealed outdated kitchens and bathrooms rank well down in a list of top 10 buyer turnoffs, behind a lack of parking, mould, dark rooms, no outdoor space and small rooms.
Mozo property expert Steve Jovcevski said sellers are better off making small improvements, like fixing damp and improving lighting, to stop potential buyers from walking away.
“Our research shows that outdated kitchens and bathrooms are a turnoff for just three in 20 potential buyers,” Mr Jovcevski said.
“This isn’t too surprising given a lot of buyers like to add their own style to a space, so an unrenovated kitchen or bathroom could be a drawcard for them.”
Mr Jovcevski also addressed some of the other stumbling blocks.
“Painting the walls white, removing bulky furniture and decluttering can make a small room look bigger,” he said.
“Lack of storage also made the top 10, so it could be worth installing shelving or under-stair storage.”
Mr Jovcevski said the results show how important it is for sellers to consider their market before putting a property up for sale.
“Only make the changes that will drive up value for those most likely to be interested in your home,” he said.
To compile the list Pureprofile surveyed, 1002 Australians aged 18 years and above, between September 7 and 9.
Top 10 buyer turnoffs
1. No parking (59%)
2. Damp / mould (50%)
3. Dark rooms / poor natural light (34%)
4. No outdoor space (28%)
5. Small rooms (16%)
6. Dated / unrenovated kitchen (16%)
7. Dated / unrenovated bathroom (15%)
8. Lack of storage (14%)
9. Flooring needs to be replaced (12%)
10. No laundry (11%)
An investment property refers to a land, condo unit or building purchased to earn profit through rentals or capital appreciation.