The top ten things that turn off Queensland homebuyers
MORE Queenslanders would live near a brothel than put up with crime, asbestos and bad smells according to new research from Australian comparison website Finder.
A recent Finder survey of Queensland property buyers found the biggest real estate turn-off was a high crime rate with 63 per cent of potential homebuyers indicating they would knock back a house in an area known to be dodgy.
In a close second was asbestos with 62 per cent of those surveyed admitting they would shun a property containing the potentially harmful material, while 59 per cent would not tolerate bad smells caused by the likes of pets, cigarettes and dampness.
Being located next to a brothel was the ninth biggest turn-off while no parking, bad internet and being close to noisy roads, loud bars and flight paths could also put a damper on potential real estate love affairs.
Finder money expert, Bessie Hassan said turn-offs could knock thousands off the value of a home.
“If you can think outside the box to remedy the issue, this could be a way to pick up a bargain property because demand might be low,” she said.
“There’s not much you can do about a property being close to a main road but you could reduce the road noise by installing soundproofing or high fencing.”
Ray White New Farm principal, Haesley Cush agreed with the survey findings that bad smells and loud noises could drive buyers away.
“Poorly presented properties are easily discounted and, if not discounted, harshly judged financially,” he said.
“A buyer may leave an inspection not liking a property because of a bad smell but the thing that tuned them off, they may not remember. They just remember they didn’t like the property and they won’t go back.”
Mr Cush said when it came to crime, buyers tended to accept or reject an area based on criminal activity long before making it to an open house but he warned against hasty judgment as gems could be found in suburbs perceived as bad.
“For example, everyone who has owned in New Farm for over 20 years, when they bought their property friends and family would have said don’t buy there because of the junkies and prostitutes,” he said.
“Now because of gentrifications people think they are real estate soothsayers and have predicted the future.”
Queensland Government Asbestos Unit director, Peter McGarry said homebuyers should be alert but not alarmed about asbestos in homes.
“If asbestos containing materials are in a good condition there’s not a risk,” he said.
“If the asbestos is well painted and if any cracks are sealed, that is considered to be good condition.”
Mr McGarry said about 50 per cent of Queensland housing stock was reliably estimated to contain some amount of asbestos.
“Any house built or renovated before 1990 should be assumed to contain some degree of asbestos materials,” he said.
Mr McGarry said risk came from improper removal or renovation of asbestos, which can also result in prosecution and fines.
He said homebuyers should factor the cost of maintaining asbestos or having it removed by a licensed professional when purchasing a house containing the product.
“On average it costs about $25 to $35 per square metre for removal and disposal of asbestos containing material,” he said.
Homeowners Beck Karatau and Dayne Rapihana weren’t scared off by asbestos in their latest renovation project, a Queenslander at 115 Ashby Rd, Fairfield, that has been listed for sale through Pauline Karatau of Ray White New Farm.
“There was a small amount asbestos and we were able to remove it,” Ms Karatau said.
“A small amount is not a problem and if a house needed to be totally gutted and re-sheeted that would come down to the cost.
“If you engage the right qualified people (to deal with it), it’s not an issue.”
Mr Rapihana is a builder, Ms Karatau has gained her builder’s license and together the couple are often hunting for renovation projects.
Ms Karatau said property turn offs weren’t necessarily a bad thing as they could result in a more affordable sale price.
“A lot of problems can be solved,” she said.
“Being on quite a busy main road would be the number one turn off for us … but we can redesign a house to minimise issues.
“We’d design easy access onto the property, put living areas to the back of the property and use insulation and double glazing to cut down on noise.”
Queensland’s top property turn offs
1. Above average crime rate of suburb (63%)
2. House with asbestos in the walls/ceilings (62%)
3. Bad smells (pets, cigarettes, dampness) (59%)
4. Located near a noisy pub/bar (57%)
5. No parking (53%)
6. Located in an industrial area (53%)
7. Being on the flight path (51%)
8. Close to a major road (50%)
9. Located near a brothel (48%)
10. Bad broadband connection (44%)