When you’re putting your home on the market, it makes sense that you want to sell it for as much as you realistically can. You may think that you’ve got your home perfectly prepared for valuations and viewings, but there are quite a lot of variables when it comes to how much a home can sell for.
It’s easy to miss some of these, so in this article we’re looking at some of those important factors that can swing your property value either up or down.
Décor
No matter how much you’ve grown accustomed to the décor of your home, from the wallpaper to your knick knacks displayed on shelves, tastes and opinions will vary wildly – this can impact the selling value of the house. Selling a home requires a different frame of mind than just living in it, so tweak the décor to be as neutral as possible throughout. It doesn’t have to be boring, but more resembling a comfortable blank canvas which a potential buyer can envision filling with their own personality and decoration.
Location
It’s common sense, but for many location is key. Proximity to shops, schools, parks, countryside, transport links – there’s an almost endless list of factors a buyer will desire when it comes to location. Some will value a city centre location with a short walk to work, while others are willing to pay more for a quiet neighbourhood near a quality school. If your home is right next to a busy main road, for example, be prepared to see a lower valuation and reduced offers.
Condition of the property
Any eagle-eyed viewer will notice every crack, hole, scuff or evidence of damage – especially if you haven’t taken the time to fix it. A survey later on will also reveal any niggling structural issues, which can further reduce the sale price. Avoid any of these issues by resolving any major and minor repair works throughout the home. From loose taps and worn sealant along the bathtub, to damaged brickwork and faulty electrics, make sure your home is in its best condition so that there aren’t any nasty surprises before contracts are signed.
Extensions and additions
When your home is listed with your estate agents, buyers will be on the lookout for those bullet point ‘key features’. If your home has ‘conservatory’, ‘recent loft conversion’ or ‘double garage’ listed front and centre, that’s going to bring in a lot more interest.
Extra living, storage, leisure or office space will add a decent chunk onto your asking price, not only because you’re offering something more to buyers, but it means they won’t have to carry out the work themselves after they’ve moved in.
Garden space
There’s a notable split which can be difficult to prepare for when it comes to the garden. Typically, younger couples and new buyers are more likely to want a low maintenance, grass-free garden which they barely have to think about. Older families with children will relish a flower-flanked green space on their doorstep.
If you have a garden, it’s a good idea to keep it clean, neat and well-maintained. Much like the indoors, a clutter-free garden allows buyers to implant their own ideas more easily. You could even think about adding a decking area to hit that balance between the two approaches to gardening.
Things you can’t control
Unfortunately, there are a few things that will be out of your control completely. Some of these are probably things you’d never even thought about before, and some will be frustrating for their antiquity. Still, while uncommon, some unique and unusual factors can affect the market value of a home, including:
- A dark history – A house with history can add character and prestige, however, should that history involve death, for instance, this could send buyers running for the hills. However, you could get lucky and find a buyer who’s keenly interested in sordid pasts, and won’t be put off by someone else’s past misgivings.
- Unlucky 13 – Some hotels will skip the 13th floor entirely, and Downing Street famously has no number 13. So if your home happens to be adorned with this most unlucky of numbers, supersticion may scupper your sale plans. To get around this, you could try naming your home instead, but wary buyers probably won’t be fooled.
- What’s in a name? – Speaking of names, your street name may have a strong influence over the asking price. Embarassing or rude names can dock your homes’ value by thousands, so no matter how modern, clean and healthy your home is, a smutty street name can be an unavoidable penalty.
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