What lessens value
Apart from not completing the items listed above, another issue that will lessen the value of the home is setting the wrong asking price from the outset. It is stating the obvious that every seller is keen to get the best possible sale price but if you set an unrealistic asking price and leave it there for a prolonged period, prospective purchasers will think there is something wrong with the property, when in actual fact it is only that you are not meeting the market.
In a very buoyant market such as the one we are in at present in the ACT, you will know very quickly if your asking price is with the market by the number of people coming through the home and feedback from those that have visited the property.
It is especially important that your agent gets this feedback and you listen to the market. In less buoyant markets, don’t fixate on what you paid for the property and not selling at a loss. Buyers don’t care and will only offer what is best for themselves, so it often better to move on quickly and make a better investment next time around.
Needing to sell quickly can also lessen value. In this regard buying another property before selling your own can be very risky. You may not be able to immediately sell your property at the price you expected, so will have to choose between incurring additional finance fees or selling for less to avoid these fees. So be wary of buying before selling and leave a buffer in your finances in case your property does sell for less than you anticipated.