Move iQ: How to maximise your property’s value
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Property experts at estate and lettings agent, Barrows and Forrester, have shared what can decrease the value of a property and put off potential sellers. Poor garden upkeep, nuisance neighbours and parking problems could all potentially decrease the value of a home, according to the experts.
Poorly kept garden and exterior
The property experts said general disrepair and an unkempt appearance can have a huge impact on first impressions.
Before a prospective buyer has even entered a property, they can be completely put off by its exterior.
However, making a home look clean and tidy isn’t a difficult task.
Sellers just need a broom, a pot of paint and a power washer.
Gardens are where the most money can be knocked off a price tag.
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An overgrown, disused garden that’s being used as a dumping ground can massively put off buyers.
In fact, it can reduce the value of a home by more than 14 percent, or £38,600, according to the latest house price data which is based on the current UK house price of £273,762.
Neighbours can make life especially difficult for homeowners.
In some cases, they make loud noises all night, have loud parties or direct rowdy behaviour towards everyone living around them.
Buyers will be desperate to avoid living next time troublesome neighbours.
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A seller can struggle to even get interest from buyers if neighbours pose an obvious problem.
In some cases, the seller ends up having to lower the asking price by at least 10 percent.
This means bad neighbours reduce value by £27,376.
Evidence of pets
Pet hair on carpets and strong odours can be big buyer turn-offs.
They can reduce the value of a home by four percent or £10,950.
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Off-street parking is a huge priority for buyers.
A safe, private space can increase the value of a home by as much as £22,500.
However, homes without a parking option can see their value drop by £19,437.
Dirty, cluttered and unpleasant smells
A clean and tidy property is vital when showing prospective buyers around your home.
Cleanliness and tidiness improves first impressions and is simple to do.
Opening the windows and allowing air to ventilate the property will help eradicate any musty smells.
If a house is not clean and tidy, it can again knock as much as £10,950 off the value of a property.
Managing Director of Barrows and Forrester, James Forrester, said: “Homebuyers are an understandably picky bunch. They’re looking for their own version of perfection and this can differ wildly from one buyer to the next.
“So don’t take it personally if they aren’t all as enthusiastic about your house as you once were, or if it takes you a little while longer than expected to sell.
“Of course there are plenty of things you can do to increase your chances of impressing a buyer and securing a sale, as well as plenty of things that can do the opposite.
“Presentation is vital and you need to ensure you are presenting the best version of your property that you can, whether it be in the initial photos taken or during the viewing process.
“Failing to do so can not only reduce interest and see your home remain sat on the market for far longer, but it can also cost you when you finally do find a buyer.”
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