Wednesday, 12 September 2012

This could devalue your home by £8,000

If you’re selling your home, seemingly insignificant details could knock thousands of pounds off its value.

Are you constantly yelling at your kids to tidy their rooms – insisting they make their beds or pick up their dirty PE kit from the floor?

If your offspring refuse to listen, try telling them that their slovenly ways could be costing you as much as £8,000.

According to research from ING Direct, potential buyers may reduce the offer price on a property by five per cent (equivalent to £8,000) as a result of an untidy kid’s bedroom.

The research found that 41% of Brits would be deterred from buying a property if they saw a messy bedroom and 71% of those people would use this fault as a negotiating tool to lower the price.

In fact, the research found that some hard-nosed buyers would push for a reduction of up to 30% based on a child’s untidy room.

‘Even if the mess doesn’t completely dissuade a buyer, it seems that it certainly impacts on the price they’d be willing to pay – so kids keeping their rooms spic and span could really pay off,’ said ING Direct CEO Richard Doe.

Other potential turn offs

According to the data, a messy bedroom isn’t the only factor that could adversely impact the value of your property.

Having a smelly bathroom is the second biggest turn off ­– with 65% of those surveyed citing this as deterrent. Likewise, 59% would feel less inclined to place an offer on a property that had a grubby kitchen.

If you would like to sell your home, it could be worth paying a little attention to the state of your front garden. Some 19% of respondents would be put off purchasing a property with an out-of-control lawn.

Any traces of pets such as animal hairs could potentially alienate 30% of those viewing your property.

Are some buyers too picky?

At the more extreme end of the spectrum, some eight per cent of buyers would feel disinclined to purchase a property with net curtains.

Other more demanding buyers would also be put off a property with clashing colour schemes and unattractive artwork on the walls.

Boost the value of a property

Although there are numerous ways you could inadvertently lower the value of your property, there are also steps you could take to increase its appeal to buyers.

Something as simple as cutting the grass or trimming back hedges may significantly improve a garden’s overall appearance.

By clearing up outside spaces, sellers could potentially make their property more attractive to those who come for a viewing.

Removing personal touches may also bolster the chances of a sale. Without clutter from the current owners, people may be able to visualise themselves living in the property.

Potential buyers may also be turned off a property if they have the impression the interior is old fashioned or out-of-date. Adding a lick of paint in a neutral colour may make the interior appear more modern and spacious.

For more articles like this, check out How football adds 137% to your home’s value and What’s the average house price in your region?

**This material is for information purposes only and should not be considered financial advice. We strongly encourage our readers not to rely solely on this content, but to seek independent advice when making financial decisions.**

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