Do some research on the internet, and you’ll find a range of issues and characteristics that can increase the value of a home. But if you’re selling, it’s just as important to be aware of the problems that can lower the value of your property.
Once you know what to look for, you can take steps to protect the value of your home. Here are five of the hidden issues that affect property values in the UK
1. Too much of you in your home
A home is a personal space that we tailor to our tastes and needs over time. And in some instances, it’s an extension of the occupant’s personality. But as you’ll find out when it’s time to sell your home, too much character can seriously hinder your house selling efforts.
Of all the issues that lower the value of a home, an overly personalised space is one of the most damaging. Prospective buyers need to visualise themselves in your property. But they’ll struggle to do that if your decor is distinctive or niche. So to create a blank canvas on which buyers can project their own lives, stick to neutral shades and safe decor choices. And depersonalise your home as much as you can.
2. A strained relationship with your neighbours
It always pays to be on speaking terms with your neighbours. This is because more and more buyers are speaking with neighbours before submitting a bid. Potential disputes and unsociable behaviour can put buyers off — even after they’ve fallen in love with your property.
Before you host your first property viewings, please speak with your neighbours and fill them in on what’s happening. If necessary, this is an excellent time to build bridges.
3. An even house number
There’s absolutely nothing you can do about the door number of your home. But it might surprise you to know that it might influence your property’s market value. According to Zoopla, homes with odd numbers are worth, on average, more than £500 than homes with even numbers.
Exactly why this is the case isn’t clear. Whether this phenomenon is just a matter of chance or something to do with the aesthetic nature of odd numbers is up for debate. If you’re concerned, consider giving your property a name — and register the name with The Land Registry.
4. A lack of privacy
Other properties surround some homes. This lack of privacy puts off many buyers, and they’ll disregard properties out of hand as a result. Fortunately, there are some quick wins. For example, you could plant trees at strategic points in your garden. Other ideas include the erection of outbuildings, temporary structures and fencing.
5. Developments in the area
The property market is susceptible to local developments. Some initiatives deliver house price rises, while others result in falls. For example, the building of a new and prestigious housing estate nearby could have a very positive effect on your home’s market value. Conversely, the opening of a landfill nearby would have the opposite effect.
Always try to stay abreast of proposed developments in your area. In most cases, you’ll have an opportunity to raise an objection — or even take legal action.
Take steps to mitigate these issues, and you might be able to protect the market value of your home. Or, if you want to sell up and move on as quickly as possible, Flying Homes can help. Contact us today, and we’ll talk you through your options.