4 Exterior Features That Could Affect Your Asking Price
16th May 19
Did you know that the majority of home buyers decide whether they like a property or not in around 8-10 seconds, usually based on what it looks like from the outside? It’s true! A recent study by Barclays Mortgages revealed that around 35% of buyers base their decision entirely on a home’s exterior, meaning that you could be losing buyers before they’ve even seen inside the house. Here are the top 5 exterior features of a home that can put off potential buyers.
A rooftop in serious disrepair can cost a lot of money to fix. No homebuyer wants to be stuck with a property that needs expensive repairs so many buyers will be extra vigilant when it comes to scoping out a damaged roof. Things like missing shingles, small holes, poor insulation, and even moss growth can all seriously impact how much you’ll be able to sell your property for. Even if roof issues aren’t immediately visible, it’s likely that they will come up in the buyer’s inspection and impact their offer or maybe even put them off buying the property all together.
Did you know that around 93% of homes in the UK have double glazing? Meaning that if you’re one of the few without, this immediately gives competing properties on the market an advantage. It doesn’t take much research to find out that double glazing is top of many homebuyers’ must-have lists as properties without double glazing can cost significantly more to heat during the winter.
Got a Garage?
Storage space is a big pull for buyers with growing families Around 86% of buyers are on the lookout for properties with garages for this very reason. Garages typically top other storage areas such as attics or basements as they are ground-floor accessible, making it easier to move items in and out of storage. With the average house price in the UK currently standing at £225,000, a garage could be worth an extra £11,000 to buyers looking at your home.
On street parking is an unfortunate factor in the asking price of a property as this is something sellers rarely have control over. Many potential buyers will keep an eye on the street and roads when they visit a property for a viewing, and they might even go so far as to ask the letting agent/home owner where they are parked on the day of the viewing. The inability to park can be a deal breaker for potential buyers. On the flip side, a dedicated parking space can add up to £50,000 in value to your home. Figures such as these make considering converting your front garden into a driveway worthwhile, just bear in mind that you may need to get planning permission in order to do so.
Unlucky for Some, The Number 13!
Yep, you read it right, superstition can be a factor when selling a property. In a study which analysed 10 years’ worth of Land Registry data, it was revealed that homeowners trying to sell number 13 properties are often forced to accept offers that are significantly lower than usual. On average, sellers trying to shift number 13 properties can expect to receive around 4% less than similar properties of a different number.
Looking for more guidance on selling your property? Contact us at Home Estate Agents for friendly, honest advice.