Owning a home is one of the biggest investments many of us make, and ensuring it maintains its value could act as a vital step to help you climb the property ladder.
Property experts Yes Homebuyers have shared some of the small details that can have a big impact on the valuation of your property - and even put off buyers completely.
Research shows that everything from the ground your home is built on, to the behaviour of your neighbours, and even your door number can impact what people are willing to pay by as much as £50,000.
Yes Homebuyers has identified a list of 15 problem areas, and calculated exactly how much they might knock off the price when it comes time to sell.
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Subsidence
Top of the pile is subsidence, which refers to the ground beneath the property sinking and damaging the foundations of the home.
It's estimated that the problem can reduce the value of a home by about of 20 per cent, and with the average UK home currently valued at £254,000, that loss equates to a huge £51,000.
Japansese Knotweed
We've all heard about the destructive plant that can grow by as much as 10cm in a single day.
Although it might not sound like too much of a headache, it's notorious for damaging the structural integrity of a home and can reduce the value of a home by 15 per cent, or £38,000 based on the average house value.
Poor upkeep
If your home has been neglected or the garden has been allowed to become out of control, research shows the value drops by an average of 14 per cent, or £36,000.
Thankfully, it's one of the easier problems to tackle, and spending a bit of money cleaning up inside and hacking away outside is often well worth it in the long run.
Unsightly structures
Power lines, mobile phone towers, and wind turbines in view of the home, or planned to be erected at a later date, can reduce the amount buyers are willing to pay or put them off completely.
On average, the value comes down by 13 per cent, or £33,000.
Nuisance neighbours and door numbers
Nuisance neighbours come in many forms, but anything that has a negative impact on living on the street can see your property drop by 10 per cent in value, which is £25,500 for the average UK home.
And believe it or not, but even your door number can be a factor, with research showing an 'unlucky' house number, such as 13, can negatively affect the value by six per cent, which is more than £15,000 on average.
Other factors
Here's what else can decrease the value of your home, and the amount it will drop by based on the UK average house price:
- Structural issues (£13,500)
- Local power station (£12,700)
- Damage or odours lefts by pets (£10,200)
- Cluttered rooms (£10,200)
- Damp and mould (£2,500)
- Asbestos (£2,500)
- Woodworm (£1,300)
Are you having issues buying and selling your home? Get in touch: mirror.money.saving@mirror.co.uk
