New data analysis from Yopa, the full-service estate agents, reveals the simple things that can knock as much as -ยฃ23,000 off theย value of a home, and the easy fixes that sellers can do to ensure they get maximum value for their home.
When it comes to selling a home, there are certain nightmare issues that can keep sellers up at night.
Problems like Japanese Knotweed and subsidence can knock huge amounts off the value of a property and can be incredibly difficult and expensive to remedy.
But itโs not just these worst-case scenarios that reduce the market value of a home.
As Yopaโs new insight reveals, there are a number of simple things that can reduce a price substantially but which can easily be fixed if you know exactly what youโre looking for.
An unloved garden – Value lost = -ยฃ23,188 (-8.2%)
If a garden is in a state of disrepair, unloved, unkempt, messy and overgrown, it destroys first impressions. Sellers need buyers to fall in love with a property the moment they set eyes on it, so showing them mess and mayhem can damage your chances of receiving a good offer.
Itโs estimated that an out of shape garden can knock between 8.2%-20% off a homeโs value, which, even in the best case scenario, is equivalent to an average loss of -ยฃ23,188 based on the current average house price of ยฃ282,776*.
A messy home – Value lost = -ยฃ13,290 (-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%, youโre waving goodbye to a possible ยฃ13,290.
Evidence of pets – Value lost = -ยฃ11,311 (-4%)
We are a nation of pet lovers. But that doesnโt mean weโre attracted to the hair, mess, and odour of other peopleโs pets when looking to buy a home. Itโs 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.
Itโs estimated that the unwanted evidence of pets results in losing 4% of a homeโs potential value, equivalent to an average loss of -ยฃ11,311.
Outdated and scrappy decor – Value lost = -ยฃ9,897 (-3.5%)
If the decor of your home is shabby, uncared for, or simply too far out of date, it can really damage the opinion of your prospective buyers.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.ย As such, youโre looking at lost value to the tune of -ยฃ9,897.
Grubby bathroom and kitchen – Value lost = -ยฃ9,049 (-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 -ยฃ9,049 less than it should be.
Poor lighting – Value lost = -ยฃ8,766 (-3.1%)
When youโve got people coming to view a home, make sure youโre letting as much natural light into the home as possible. If itโs 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, itโs believed to add around 3.1% to the value of your home. So if you get it wrong, youโre losing out on ยฃ8,766.
Damaged or scrappy windows – Value lost =-ยฃ8,483 (-3%)
Buyers look closely at windows. They give natural light, ensure warmth doesnโt escape, and provide natural cooling for when the summers are hot. So if your windows look scrappy or donโt function properly, itโs a big turn off and can lose you an average of -ยฃ8,483 on the sale price.
Unwelcoming front door – Value lost = -ยฃ4,524 (-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, youโre looking at potential losses of -ยฃ4,524.
CEO of Yopa, Verona Frankish, said, โSelling a home is not always simple, and thereโs often a lot of work that needs putting into a property in order for it to present well and achieve the best possible price. All of these seemingly minor issues can cost you thousands of pounds, but the good news is that for the most part theyโre 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.โ
Leave a Comment