When it comes to selling your home, you may think that factors like the size, location, and condition of your property are the only things that matter. However, there are many surprising and unexpected things that can impact the perceived value of your home, some of which you may never have considered.
In this blog post, we will explore seven surprising things that can affect the value of your home, from the name of your street to the behavior of your neighbours, so that you can be better informed when it comes time to put your home on the market.
Tidy up those toys!
It’s not just about keeping a clean house, having messy kids can actually reduce the perceived value of your home. ING Direct found that a cluttered children’s bedroom could knock off up to £8,000 from the average home’s value.
Clutter can make a room look smaller and stop potential buyers from seeing the full potential of your home. During viewings, it’s important to tidy up the toys and put them away in a box. This will help create a better impression and leave a positive memory in the minds of potential buyers. So, get those kids involved in tidying up their room!
What’s in a name?
Surprisingly, the name of your street can also affect the value of your home. Research by Zoopla found that houses on “Warrens” are the priciest types of road, with an average value of £607,267, more than double the national average. “Streets” are much cheaper, with an average value of £184,722. Additionally, names with royal connotations like “Kings” are 20% more expensive than “Queens.” On the other hand, rude names sell for less, possibly due to embarrassment.
Numbers matter too
Odd-numbered houses on average are sold for £538 more than even-numbered ones, according to Zoopla. However, superstition still plays a role, and owning a number 13, intentionally missed out on some buildings, may cost £6,500 less than its neighbours.
Pets can affect the price
Having pets is generally not a problem, but intimidating or smelly pets, or having too many of them can knock up to 5% off the asking price. It’s important to keep them clean and well-behaved during viewings to avoid any negative impact on the sale, if you are able – take them out of the home during your viewing periods.
The neighbourhood vibe
The type of local businesses in your neighbourhood can affect your home’s value. A noisy, rowdy drinking hole with customers spilling out onto the pavement every night can put potential buyers off, while a lovely local pub with a great atmosphere can be a major plus. Similarly, living near an upscale supermarket like Waitrose can add 12% or £40,000 to the average property, according to a report by Lloyds Bank.
While you may love bold wallpaper, having a unique or controversial decor style can reduce the value of your home. According to experts, “bad taste” can knock 5-10% off the value. To appeal to a wider range of potential buyers, stick to neutral and inoffensive decor that allows them to visualize their own style in the space.
Neighbours can make a difference
Disputes with neighbours can have a significant impact on your home’s value, with an estimated one in five homeowners encountering serious problems. This can include arguments over noise, territory, or living next door to people with anti-social behaviour. A survey by Halifax Home Insurance suggested this can reduce the price of the average property by up to £31,000.
Before exchanging contracts, it’s important to talk to the seller about the neighbours and do some research to get a feel for the area. Contacting the local council to see if any disputes have been recorded can also be helpful.
To sum up, there are many factors that can impact the perceived value of your home, and some of them may be surprising or unexpected. From the name of your street to the behaviour of your neighbours, these factors can have a significant impact on the amount of money you can expect to receive when you sell your property. That’s why it’s important to be aware of these issues and to take steps to address any that could negatively impact the value of your home.
If you’re planning to sell your home in the near future, it’s also a good idea to speak to a trusted estate agent for advice and guidance on how to maximize the value of your property. They can help you to identify any potential issues and to take steps to address them before you put your home on the market. So, don’t hesitate to reach out to a qualified estate agent today and get the advice you need to make your home sale a success.