Looking to sell your house? It may be time to ditch the BMW and tidy up the garden if you want a better offer
- Sellers could lose up to 20% on offers due to untidy property exteriors
- Based on the average UK house price of £288,000, sellers could see £57,600 knocked off the offer
- Buyers are put off by a BMW but attracted by a MINI
People wishing to sell their home could see buyers offering an average of £57,600 below their asking price if it lacks “kerb appeal”, new research has claimed.
A survey by Barclays Mortgages found 44 per cent of house hunters would offer up to 20 per cent less than the asking price if they’re put off by the outside of the property.
The research also found buyers dislike seeing a BMW parked outside, however a MINI makes a good impression – a rather ironic result being as MINI is actually owned by BMW.
Barclays did a survey of more than 2,000 homeowners and found it takes buyers just ten seconds to decide whether they like a property – making the outside appearance vital.
Over a third of property buyers said they make their decisions purely on a home’s exterior and won’t even bother looking inside if they are less than impressed.
Some 53 per cent even admitted they would buy a property that had kerb appeal, even if the inside needed extensive cosmetic work.
With regards to the much talked about subject of front doors, classic white and black are unsurprisingly the favourites amongst buyers, while more brash colours such as orange, pink and purple were least favoured, according to the survey.
When it comes to the fascia of the property, concrete was named the least appealing with 64 per cent saying they would be put off, and a further 62 per cent said brightly coloured rendering would be the biggest turn off.
The least desirable kerb appeal features
It’s not surprising that more than two thirds said they would be put off by vermin outside the property, while 58 per cent said they disliked an untidy front garden.
Buyers were also put off by noise. Communal buildings such as nearby pubs reduce the appeal to prospective buyers, as well as noise from busy roads. Many were also put off by being close to fast food outlets.
|LEAST KERB APPEAL|
|Feature||How many were put off|
|Vermin control outside the property||68%|
|An unkempt front garden||58%|
|Near noisy communal buildings (e.g. pubs)||53%|
|Busy transport links close by||51%|
|Close to fast food outlets||50%|
The most desirable kerb appeal features
If you want to improve kerb appeal, 69 per cent are impressed by a well looked after garden while 60 per cent prefer double glazing.
A parking space was also favoured by 59 per cent of buyers, and others also said appealing looking neighbours’ houses and gardens were important to them.
Seventy four per cent chose modern brick as their favoured exterior material.
|MOST KERB APPEAL|
|A well-manicured garden||69%|
|A parking space||59%|
|Appealing neighbouring houses||54%|
|Neighbours having well-manicured gardens||51%|
So, if you’re looking to sell your home in the near future, make sure you think about the presentation of the outside, as well as the inside of your property.
Post courtesy of This is Money.