Buyer can be put off by a host of things, but two features could see homeowners lose a lot of money.
Spring is the busiest time of the year for house sales as people look to put their homes on the market and move on.
Property experts emoov.co.uk say that weather and a desire to get January over and done with without making a major decision are all factors in why the property market slows down in winter. And the better weather understandably draws out buyers for viewings meaning your home is more likely to sell.
But there are two features of your house in particular that can decrease its value by 30 per cent and can even put buyers off signing on the dotted line.
Estate agent and Watson Buys founder and CEO Jennifer Spinelli said that the location of your home and outdated kitchens can see it lose a huge amount of value and even be the death knell for a sale.
Spinelli has shared five house characteristics that “devalue your house and put potential buyers off buying a home”. With her expertise in turning properties into welcoming abodes and successful investments, Jennifer offers invaluable guidance.
Here’s what, she says, can slash the property value by five to 30%, reports The Express.
1. Poor kerb appeal
Kerb appeal is what greets a prospective buyer when they first lay eyes on a property. It encompasses the house’s external appearance, including the paintwork, landscaping, and overall tidiness.
(Image: Getty )
Neglected exteriors can “turn off potential buyers”, suggesting the property hasn’t been well-maintained, potentially reducing its value by 10 to 15%.
2. Outdated kitchens
The kitchen, often the hub of the home where families gather and meals are made, is a “crucial room for many buyers”.
Jennifer cautioned that an old-fashioned kitchen with tired appliances, worn cabinetry, and dated worktops can “decrease your house’s value by 20 to 30%”.
If the budget allows, investing in modern amenities like vertical storage, a pantry, or a built-in utility area can be worthwhile.
3. Unappealing bathrooms
Much like the kitchen, a bathroom that doesn’t hit the mark can also “turn off potential buyers and decrease the value of a house”, by 15 to 25%.
This could be due to outdated fixtures, cracked tiles, or poor ventilation. Buyers are looking for bathrooms that are clean, modern, and functional.
4. Lack of storage
Another issue is a lack of storage space. In this day and age, people have a lot of belongings and need plenty of storage space. A home without enough storage options can be a “major turn-off for potential buyers,” says the estate agent. This might mean small closets, a lack of shelving, or no garage.
Jennifer stated: “The value of a house can decrease by 5% if it lacks proper storage space.”
5. Poor location
While not part of the house itself, location is a “crucial factor” in determining its value.
A house in an undesirable neighbourhood, near busy roads or industrial areas, can “significantly decrease its value by 20 to 30%”. Buyers want to live in safe and convenient locations, so if the house’s location is undesirable, it can be a “major deal-breaker”.
