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Entertainment The 'undesirable' features that could knock £50,000 off the value of your home

17:25  24 september  2020
17:25  24 september  2020 Source:   uk.finance.yahoo.com

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Noisy neighbours, pet smells, old electrics, and being near a pub are just a few of the “undesirable” features that could knock £50,000 ($63,672) off the value of your home, research suggests.

The two things most likely to put a potential homebuyer off a house are mould or damp on the walls, deterring 62% of people, and signs of a pest infestation, at 57%, according to a survey of 2,000 people by retailer Hammonds Furniture.

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The top 10 least-desirable property features to UK buyers

  1. Mould or damp (62%)

  2. Signs of a pest infestation (57%)

  3. Old electrics or wiring (50%)

  4. Japanese knotweed (48%)

  5. Noisy neighbours (48%)

  6. A messy neighbouring house (39%)

  7. Pet smells (37%)

  8. A bathroom with no bath (34%)

  9. Very close to a pub (32%)

  10. A weak shower (28%)

These issues can reduce a property’s value buy up to a fifth — knocking £49,471 off the average UK house price of £247,355, according to WeBuyAnyHouse’s managing director Michael Patterson.

“Mild cases of mould may not affect value too dramatically if all is needed is a dehumidifier and some mould-resistant paint, but very severe cases can reduce a property’s value up to 20%,” he said.

“Pests can also cause extensive damage — especially rats that are prone to chewing through electrics and wooden beams, which you would need to repair.

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“Depending on the damage done, you could be looking at between 5% to 20% of a decrease in value.”

While it’s common for buyers to be put off by signs of disrepair and neglect that could be cost a significant amount of money to fix, a large amount are also put off by features that could be quickly rectified, the survey found.

A third of people would be put off a house if it had a messy garden, which could also knock off up to fifth of a property’s price, according to Patterson.

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Almost a fifth (19%) would be put off by holes in the walls from hanging pictures or paintings, and nearly a quarter (24%) of people would look elsewhere if the house had ugly wallpaper.

Even more people would reconsider a purchase if a house had a “weak” shower, at 28%, while a massive 37% people said they would find pet smells “off-putting.”

Many features proven to be detrimental to the price of a property are completely out of the owners’ control, the research found.

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Two in five (39%) people would reconsider a purchase if a house had a “messy looking” neighbouring house, almost half (48%) would if they could hear noisy neighbours, and a third (32%) would dislike the thought of a pub nearby.

Perhaps less surprising, 14% would be put off buying a house if the road had a rude street name, the survey found.

Some house buyers even claimed they would be put off by features that others might find attractive — one in 10 people wouldn’t choose a property if it had a swimming pool or hot tub, and 13% would dislike laminate flooring, they revealed.

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As for features house buyers would pay more for, a garden tops the list, with nearly half (45%) of people claiming they would pay more for outside space.

This is closely followed by a garage (37%) a conservatory (31%) and a loft conversion (27%).

“A nice sized garden can add up to 25% more on a house price, especially if it is well maintained with a seating area for the summer,” said Patterson.

“A carriage driveway can add up to 15%, and an attractive conservatory can add up to 10% to a house price.”

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However, only 15% of people would pay more to be close to public transport. Just 13% would pay more for a log burner, and only 8% of people would be swayed by smart meters in the home, the study found.

Holly Herbert at WeBuyAnyHouse offered some advice to sellers who want to present the best house possible.

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“In general, to get a house in a good position to sell I would say decoration is key,” she said.

“Freshly painted walls make a big difference — even if it’s the same colour as before — as it will make the place brighter and remove any scuffs and marks.

“Gathering all information about the house for viewers is also important — general running costs, council tax band, local transport links. Getting it all in one place so you have it to hand with no hesitation is something buyers appreciate.”

She added: “And don’t forget to take the best possible advertising photos.”

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