A recent study of 3,000 property buyers by research company The Advisory found some surprising ways in which your property could be more appealing and sway people to make an offer on your home.
Some of the findings were out of the property owner’s control. These include living on a tree-lined street (which added 15% to the value) and being close to one of the UK’s top schools (adding an average £52,000), being waterside (adding 10 – 15%), living near a Waitrose (adding £40,00) and a Carluccio’s (adding 18%), or having a blue plaque (5%). However, there are several aspects that are within your control and changes you can make before you put your home onto the market.
Making your home energy efficient can add 14% to the value of your home. Make sure you are on the best possible tariff using utilities comparison websites and invest in an energy efficient boiler if the existing one is in need of replacement. Draft proof your home and make sure you have sufficient insulation.
Surprisingly, having trees and greenery surrounding your home and even a wisteria growing on the property façade can add up to 5% to the value of your home.
Many people would be much more interested in a property if it had faster broadband, especially as many of us now work from home and rely on on-demand services for home entertainment.
If you make home improvements, it’s imperative that you get all permissions granted otherwise you could find that there are legal issues that can put off potential buyers. In addition, niche improvements that aren’t to everyone’s taste can be a huge turn-off, so think carefully about what you are doing to your home and who it will appeal to.
Check for damage
Water damage or structural problems will put buyers off so get the experts in to make sure everything is in order.
According to research from Zoopla, house hunters take just ten seconds to decide if they want to live in the property. If your home is dirty, full of clutter or has an unpleasant odour this is likely to be the outcome. Make sure it’s clean, tidy and clutter free!
There are also several factors that can negatively affect the value of your home. These include Japanese knotweed which as wiped almost £20bn off UK house prices (and can affect the value by 10%). Other factors include living at a number 13, an unpleasant history, living close to a McDonald’s or living in a high crime area. These are factors to consider when you purchase a property because although these may not be an issue for you, it’s important to consider the resale aspect.
Talk to us at The Mortgage Hub if you would like advice on the best mortgage for you.