The value of a property depends on many factors – some more unexpected than others. To ensure that these issues don’t adversely affect your house price, read on.
1. Messy Children
ING Direct suggests that a messy child’s bedroom can reduce the average house value by £8,000.
2. Importance of Names
Zoopla revealed Warrens cost most at up to £607,267 – over double the national average (£282,978). Streets are cheaper at an average of £184,722. Meanwhile, Kings cost 20 per cent more than Queens. ‘Rude’ names like Bell End sell for less.
3. Counting the Cost
Generally, odd-numbered houses cost £538 more than identical evens. Number thirteens cost around £6,500 less than neighbouring abodes.
Should your pet(s) be unruly, smelly or intimidating, this could knock up to five per cent off your asking price.
If you seek a home buyers survey Nottingham offers firms such as https://www.samconveyancing.co.uk/Homebuyers-Survey/Home-Buyers-Survey-Nottingham.
This Opendoor blog looks at situations that impact the value of your home: https://www.opendoor.com/w/blog/factors-that-influence-home-value.
5. A Decent Pub
Living near a grubby, noisy local deters buyers. Conversely, a lovely neighbourhood gastropub with craft ale is a real asset.
6. Taste Matters
While people like different looks, ‘bad’ taste according to estate agents can knock five to ten per cent from your house value. Neutral decor yields the best returns.
7. Good Neighbours
Neighbour disputes, estimated to affect one in five homeowners, can have a drastic effect on house prices. Halifax Home Insurance suggested friction can take as much as £31,000 off the average property price. Ask the seller about their neighbours and contact the council in case disputes have been recorded.
8. Clever Storage
Good storage is much desired. Add shelves or cupboards next to chimney breasts or under the stairs, and keep the areas tidy for viewings.
9. Being Close
In London, living within 500m of an underground station can raise prices by 10.5 per cent, while houses 250m further along the road drop by 7.6 per cent.
However, being too close – bus stops outside your front door or blocking windows – isn’t sought after.
An urban parking spot immediately outside your home could add up to £50,000. Converting your front garden into parking could therefore be lucrative.