10 Bizarre Things That Can Affect Property Value
Is something holding you back during the purchase of a house sale? Is it mentioned in the list below?
Here are 10 bizarre things that can affect a property's value:
1. Is it a Road, Street, Avenue or something else? It sounds crazy but the name of your street can affect your home's value and desirability! According to Zoopla, Warrens are the most popular. And there’s a right royal rumble with street names with homes sold on streets with Kings in the title being on average 20% more expensive than Queens! It might be amusing to live on a street with a rude sounding name, but this could also knock thousands off your potential offers!
2. Surely the number won’t matter? Strangely, research has found that it does! Zoopla found that odd-numbered houses fetch on average £538 more than an equivalent house with an even number! However, the same doesn't apply to the number 13. Ship builders miss out deck 13, there is no aisle 13 on European planes and there is no 13 Downing Street. As a superstitious nation, it’s no surprise that the same research found that living at number 13 can cost you up to £6,500 off an offer!
3. Pets - The good news for all us animal lovers is that usually having a well-behaved pet is not an issue when it comes to selling your home. However, if there is a pet smell or they have damaged the property in any way and this is evident to potential buyers, it could cost you an offer completely or knock up to 5% off the value, so it might be a good idea to put Rover & Tiddles away at viewing time!
4. Messy Family- Ever backed down on not docking the kids pocket money when they won’t clean their rooms? If you’re selling your home, you won’t now! It won’t be pocket money hit but a hit in your pocket! According to ING, a messy or untidy home could cost you £8,000!!
5. The Nags Head - Let’s face it, most families and professionals don’t want to live in a property that is right next to a noisy pub. However, a nice local with lovely lunches and a lovely atmosphere can help you immensely, adding up to £40,000 to an average property price according to Lloyds. Also, your potential buyers might have called in for a quick half whilst they decide what to do about your home. It’s important you choose the best times for viewings.
6. Paint it Black - Or not, as the case may be. You might think you’re the next Linda Barker but the crazy thing is, most buyers seem unable to look beyond dirty, tired or terrible décor! If your friends pull a face at your lemon wall and you want to sell, it might be an idea to run down to your local DIY store and make the walls a more neutral colour.
7. Everybody needs good neighbours - Neighbour disputes are more common than you think but if you’re in one, it might be worth resolving it. The Property Information Form makes you disclose any issues you’ve had with neighbours so it’s a good idea to be friendly! According to experts, an average of £31,000 can be lost from a property’s value by a boundary dispute. On that note, contact our litigation team if you need advice in this regard.
8. Where do the shoes go? When I viewed properties, one I offered on had a clever solution for shoe storage near the front door. Experts believe that clever storage solutions can encourage buyers, as long as the cupboards are tidy. If they look in, make sure you haven’t just thrown the vacuum cleaner in. There’s no wonder a well known bedroom company and a Swedish flat-pack giant work on this basis!
9. The wheels on the bus - Nationwide’s research has shown that it’s a good idea to get close to public transport. On average, your house value goes up 10.5% if you live within 500m of the London Underground but only 7.6% within the next 250m. Living near a major northern rail station such as Leeds or Manchester Piccadilly can add up to £8,500 to a property’s value but be warned; have it too close to a major bus route or have the stop too close, and the opposite could be true. Also, make sure you have a transport search done. If HS2 is planned to come through your home or estate, as was proposed in Mexborough, South Yorkshire, you could have a real problem. If you live near a school or a place where it’s difficult to park, a car parking space can also add value and desirability to your home.
10. You are what you wear - Psychologists believe that ‘people buy people’. A train of thought is that people associate colours with feelings. Red is love, blue is sorrow, yellow is warmth and grey is sincerity. What impression do you want to give? Also, making your home smell of high end stores or fragrances can also help, with buyers known to associate such smells with quality.
Our team at Ison Harrison handles sales perfectly. We’re a Lexcel Accredited, Top 20 Yorkshire Law firm with a very experienced team. If you require information, call myself Ashley Mallet at the York office on 01904 917 982, or email email@example.com.« Go backContact us »