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Top 5 Things That Devalue Your House

By May 11, 2021No Comments

Home Improvements/Renovations

Whilst the idea of a new bathroom or creating extra rooms before you put your house on the market may sound lucrative, if the jobs are not completed to a professional standard, or are done without the correct planning permissions, then agents and possible buyers may refuse to bid on the property. Doing these jobs may also put the buyers in a position to re-negotiate the price of the property, if they know the jobs haven’t been executed via the correct channels.

Certain improvements, such as a solar panel or wind turbines may devalue your houses outright, regardless of whether they’re done correctly or not. This is due to many buyers disliking certain aspects of these features, like the noise created by wind turbines, and the aesthetic of solar panels, despite the money a buyer may save on energy.

Crime Levels

Many buyers, especially families, will research the crime levels of an area. If the statistics show the crime levels to be higher than average, they will either refuse to bid on the property or expect to pay a lower price. Unfortunately, there is nothing you can do to amend this issue with your property other than perhaps waiting for a time where the crime rate drops.

Schools

Parents are willing to pay, on average, £52,000 more for a property in the catchment area of an Ofsted ‘Outstanding’ rated school, than a property near an Ofsted ‘Requires Improvement’ rated school (according to a report by Rightmove). Therefore, if a school that is local to you gains a negative report, you should expect your house to lose value.

Design

Both how you have styled your house and how it was originally built, can affect the value of it. The structure of the property will affect natural light in the building, which can affect the value of the house overall, as most people prefer light, airy rooms to those kept in shadows. Often, natural light can be increased by cutting back hedges or trees outside of the window.

If your taste in design is a unique and potent one, then it is advised to attempt to reduce the effect you’ve had on the home and de-personalise it, before putting it on the market, as buyers may dislike the décor – so the value that you could expect to ask for would need to be reduced.

Cleanliness

The overall cleanliness of the property, on both the interior and exterior, will greatly affect the opinion of buyers on the property. Any areas that have mould, rot or are cluttered in your house would reduce the appeal of the home to buyers, and so some quick fixes and cleaning can go a long way on the market.

The exterior view of your house, the kerb appeal, is incredibly important, as it determines the first impression of your house for potential buyers – and the first impression is going to be the most important.

To sum up, whether you have control over those factors or not, Sourced.com can help you to sell your property quickly, at the right price. Get in touch now at 0333 123 1330.

Chris Kirkwood

Chris Kirkwood

Development Director, Sourced.