For many, selling up represents a decision to leave a property that the owner has invested time and money into making it a home. Others, however, may have fallen out of love with where they live, letting it get a little ‘rough around the edges.’
Like or loathe your current home, it’s not the opinion of the seller that counts. As soon as that ‘for sale’ sign is up, all that matters is what buyers think about the property and how much they’re willing to pay to make it theirs.
New research from Tapi was commissioned to establish the top five negatives that put potential purchasers off. It’s a study that has been carried out numerous times by different people but after the last two years and many people making lifestyle changes, it’s good to get a fresh perspective on what may scupper a property sale.
The research found a home that needed a lot of work doing to it was the most off-putting aspect, with 45% of those taking part in the research saying they’d pass on a property if it needed too much modernising or maintenance.
On a similar theme, 22% of participants commented that they’d discount a property that needed complete redecoration, while 28% would be deterred if the home had an old kitchen that needed replacing.
The other two aspects in the top five property negatives really fall outside of the seller’s control. Purchasers value their peace and quiet, with 43% of respondents saying they’d snub a property if there was a lot of external noise pollution. Completing the list was unsightly surroundings in eye view of the property – a negative cited by 36% of people.
Rather than dwelling exclusively on the adverse, the study also asked what people found most attractive when looking for a new home. Unsurprisingly, more than half of Brits (52%) said private outdoor space was the most important factor when searching for a new home.
Just behind a garden or a balcony was a new kitchen, with 51% saying this was a top consideration when looking for a property to buy. Another feature that finds favour with home movers is a new bathroom, with 42% of respondents saying this was very important to them. Other property plus points included freshly painted walls (20%), new flooring (15%), modern appliances (12%) and neutral colours (19%).
Before you rush out to buy a new kitchen or rip out your bathroom, talk to us about the financial investment needed to make improvements versus the actual value and appeal it will add to your property. Sometimes the simplest (and cheapest) alterations, such as tidying the garden and repainting throughout in white, can make all the difference. Contact us for free advice and a property valuation.