Are you thinking of selling off your property but are worried that it might be difficult if the building is currently empty? From the impact of being left empty on its value to how you can select the most suitable approach to keep it safe— everything must be considered by the property owners.
Selling a property can be a difficult process. With so many factors to consider, it’s important to make sure everything is in order before even thinking about listing it on the market. One of the most important aspects of selling a property is making sure it has not been damaged or had its value reduced whilst it was empty.
Why Are Empty Properties Harder To Sell?
One of the most alarming concerns of having an empty property is the condition of the building. More often than not, it becomes challenging to keep up the condition of an empty property, resulting in a decrease in its value.
An empty property is more difficult to sell because potential buyers have a harder time envisioning what the space could be used for. An empty room can be very intimidating, and it can be hard for people to see past that and imagine what the room could look like with furniture or other items in it.
Additionally, an unoccupied building in bad condition may give off the impression that the owners are not interested in selling, which could make potential buyers less likely to make an offer.
Risks of Leaving a Property Empty for an Extended Period of Time
- Risk Of Vandalism
It is no secret that leaving a property vacant for an extended period of time can make it a target for vandalism. This is especially valid if the property is situated in a high-crime neighbourhood.
Vandals may see an empty property as an easy target and may break windows, spray graffiti, or commit other acts of destruction. This can not only make the property less appealing to potential buyers but can also result in costly repairs.
- Illegal Occupancy by Squatters
Squatters are people who move into an unoccupied property without the owner’s permission. They often do this when the property is in a state of disrepair, as they know the owner is unlikely to want to invest in repairing it if they’re not living there.
Vacant homes are also more likely to be burgled than occupied ones. This is because burglars know there is less chance of someone being home to catch them in the act. And, even if there is an alarm system, it’s likely to be turned off if the property is unoccupied.
So, if you’re thinking of leaving your property empty for a prolonged period of time, be aware of the risks involved.
- Potential Antisocial Behaviour
It is a well-known fact that potential antisocial behaviour is a threat to empty properties. In order to keep your property from being an easy target for anti-social behaviour and crime, it is important to take some precautions. Below are some tips on how you can protect your property:
- Keep an eye on the property yourself or hire a security company to do so. This will help deter any would-be criminals from targeting your property.
- Make sure all doors and windows are secure, and there are no signs of forced entry.
- If you have valuable items inside the property, make sure they are securely stored away and out of sight.
- Be sure to inform the police if you notice anything suspicious happening around your property.
By following these simple tips, you can help protect your property from potential antisocial behaviour and keep it safe until you are ready to sell it. However, it is essential to note that implementing these measures can often turn out to be a costly activity.
- Depreciation of Your Property’s Value
When a property is left vacant for an extended period of time, it will likely experience depreciation in value. This is because properties that are unoccupied are often seen as being less desirable than those that are occupied.
Furthermore, unoccupied properties may fall into disrepair, which can further decrease their value. Thus, if you are thinking about keeping a property empty for an extended period of time, you should be aware that doing so may cause the value of your property to decline.
How Can Property Guardianship Help You?
Many people are put off by the idea of buying an empty property. It can be seen as a risk, and it can be difficult to find reliable information about the state of the property.
Property Guardianship is a way of protecting your investment and ensuring that the property is sold quickly. Guardians are usually working professionals who are looking for low-cost accommodation. They will live within the property and take care of it while you are trying to sell it. This can be a great way to make sure that the property is kept in good condition and that it is sold as soon as possible.
Trusted Guardianship companies like Global Guardians can help you implement the perfect Guardianship scheme that best suits the specific needs of your property. It serves to be a cost-effective way to secure your unoccupied house while you are in the process of selling it.
Now you can secure your empty property at zero cost. Click here and discover all the information you need to get started.