An estate agency has warned that these eight ‘simple’ things could be reducing the value of your house.
New data analysis shows the mistakes we might be making that are knocking as much as £23,000 off the value of a property.
The full service estate agents at Yopa know all too well the nightmare issues that can keep many sellers up at night from problems like black mould to Japanese Knotweed.
However, there are also a number of seemingly insignificant small things that can substantially reduce the price of a property.
Thankfully, in many cases, these issues are often easily and reasonably fixed – if you know what you’re looking for.
“Selling a home is not always simple, and there’s often a lot of work that needs putting into a property in order for it to present well and achieve the best possible price,” according to the CEO of Yopa, Verona Frankish.
Verona continued: “All of these seemingly minor issues can cost you thousands of pounds, but the good news is that for the most part they’re generally easy to address and rarely cost much to rectify.
“Just remember, the more welcoming and cared for your home appears to be, the more comfortable and attractive it will appear to buyers.
“A home is worth what someone is willing to pay for it, so do everything you can to make it irresistible.”
What reduces the value of a house?
A messy home – Value lost = £13,290 (-4.7%)
First impressions count. Tidying your home before potential buyers come to view it is the easiest and most basic thing you can do to achieve the highest possible price.
It is estimated that an immaculately presented home can increase the value of offers by an average of 4.7%.
If, therefore, a house looks dirty and you miss out on this additional 4.7%, you’re waving goodbye to a possible £13,290.
Evidence of pets – Value lost = £11,311 (-4%)
We are a nation of pet lovers. But that doesn’t mean we’re attracted to the hair, mess, and odour of other people’s pets when looking to buy a home.
It’s not that pet hair is a huge turn-off, but it gives an impression of uncleanliness that potential buyers will fear runs through the rest of the property as well.
It’s estimated that the unwanted evidence of pets results in losing 4% of a home’s potential value, equivalent to an average loss of -£11,311.
Outdated and scrappy decor – Value lost = £9,897 (-3.5%)
If the decor of your home is shabby, uncared for, or simply too far out of date, it can really damage the opinion of your prospective buyers.
Awful decor is difficult to see beyond, and it also suggests that buyers will have to do a lot of work to the home if they buy it.
As such, you’re looking at lost value to the tune of £9,897.
Grubby bathroom and kitchen – Value lost = £9,049 (-3.2%)
Again, a grubby bathroom or kitchen tells prospective buyers that a home has not been cared for.
This is scary because it means there might be further issues of bad maintenance throughout the home.
As such, buyers reduce their offer by an average of -3.2%, which means the price you achieve could be -£9,049 less than it should be.
Poor lighting – Value lost = £8,766 (-3.1%)
When you’ve got people coming to view a home, make sure you’re letting as much natural light into the home as possible.
If it’s dark and dingy because the curtains are closed or the windows are filthy, it makes the home feel gloomy and unattractive.
If you get the lighting right, it’s believed to add around 3.1% to the value of your home. So if you get it wrong, you’re losing out on £8,766.
Damaged or scrappy windows – Value lost =£8,483 (-3%)
Buyers look closely at windows. They give natural light, ensure warmth doesn’t escape, and provide natural cooling for when the summers are hot.
So if your windows look scrappy or don’t function properly, it’s a big turn-off and can lose you an average of -£8,483 on the sale price.
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Unwelcoming front door – Value lost = £4,524 (-1.6%)
A dirty, damaged, or poorly maintained front door results in a bad first impression. Doors should be welcoming and speak to the character of a home.
So if it looks horrid and unwelcoming, you’re looking at potential losses of -£4,524.
