Revealed: 8 Common Factors That Can Reduce Your Property’s Value by Up to £23,000

New research has revealed the common factors that can significantly reduce the value of a property by up to £23,000 and how you can easily fix them to maximise your selling price.

When it comes to selling property, certain issues can cause significant concern for sellers. Serious problems like Japanese Knotweed and subsidence can drastically devalue a property and are both costly and difficult to address. However, new insights highlight a range of common factors that, if left unaddressed, can substantially lower your property’s worth, yet are relatively easy to remedy once identified.

Garden in disrepair – value lost: £23,188 (8.2%)

As the popular saying goes, “First impressions count.” A neglected garden is a major turn-off for buyers. If messy, overgrown or unkempt, it can ruin those crucial first impressions and reduce your property’s value by up to 8.2 per cent. This translates to a loss of £23,188 based on the current average house price of £282,776. However, most gardens, with only a few hours work, can be made presentable and will show prospective buyers its true potential. So, hire that skip and get clearing, mow the lawn and cut back any overgrown plants!

Clutter and mess – value lost: £13,290 (4.7%)

Ensuring your property is clean and tidy before potential buyers view it is one of the simplest and most effective ways to create a good first impression and achieve the highest possible price. A clean, well-presented property can increase its value by 4.7 per cent, meaning you could lose out on £13,290 if your investment is cluttered and dirty during viewings.

Evidence of pets – value lost: £11,311 (4%)

While many of us love our pets, potential buyers might not appreciate the hair, mess and odour associated with them creating a perception of uncleanliness that can result in a 4 per cent reduction in your property’s value, equating to a loss of £11,311. To address this, ensure thorough cleaning before viewings, remove pet hair and odours, repair any pet-related damage and consider temporarily relocating pets during showings to present a pristine environment.

Outdated and worn decor – value lost: £9,897 (3.5%)

Shabby or outdated decor can significantly damage a buyer’s perception of your property. If your decor is uncared for or dated, it can suggest to buyers that they will need to invest heavily in renovations, leading to a potential loss of £9,897. To address this issue inexpensively, consider freshening up the paint, updating fixtures like light switches and handles, and adding modern, budget-friendly accessories such as new cushions or curtains. These simple updates can make a big difference in presenting a well-cared-for and appealing property.

Grubby bathroom and kitchen – value lost: £9,049 (3.2%)

If a seller markets a property with a dirty bathroom or kitchen, this could signal the property has been neglected. If the buyer thinks your property hasn’t been well maintained, this may well lead to lower offers. As such, something so easily remedied could reduce your property’s value by 3.2 per cent, or £9,049. Consider hiring a cleaner for a one-off deep clean to reduce the risk of lower offers due to this simple-to-fix factor.

Poor lighting – value lost: £8,766 (3.1%)

Ensuring your property is well-lit can make it feel more welcoming and attractive to prospective buyers. Meanwhile, poor lighting can make it seem gloomy and uninviting, reducing its value by 3.1 per cent, or £8,766. To improve lighting inexpensively, clean windows to maximise natural light, replace dim bulbs with brighter, energy-efficient ones, and add stylish, affordable lamps or light fixtures in darker areas to create a warm and inviting atmosphere.

Damaged or poorly maintained windows – value lost: £8,483 (3%)

Buyers want to see that windows are in good condition and clean, with working seals, locks, and mechanisms, as replacing windows can be expensive. Damaged or poorly maintained windows can lead to a 3 per cent drop in value, costing you £8,483. A good clean inside and out can make a big difference to the appearance of windows. You can also lubricate the locks and hinges to ensure the windows are in working order.

Unwelcoming front door – value lost: £4,524 (1.6%)

Your front door is the first thing buyers see. A dirty, damaged or unattractive door can create a bad first impression, leading to potential losses of £4,524. To address this issue inexpensively, clean the door thoroughly, apply a fresh coat of paint or varnish, polish the hardware and add a welcoming touch like a new doormat, hanging basket or decorative wreath to make a positive impression on buyers from the moment they arrive.

Opportunities for savvy investors

For property investors and developers, these issues present opportunities. Properties exhibiting these faults can often be purchased at a lower price, meaning, with minimal investment, the value can be significantly increased.

Verona Frankish, CEO of Yopa, which conducted the research, comments: “Selling a home is not always simple, and there’s often a lot of work that needs putting into a property in order for it to present well and achieve the best possible price. All of these seemingly minor issues can cost you thousands of pounds, but the good news is that for the most part they’re generally easy to address and rarely cost much to rectify.”

Ultimately, the more welcoming and cared-for your property appears, the more attractive it will be to buyers. So, it makes sentence to address these commonly overlooked factors when marketing your property to maximise its value.