Research carried out by Rated People has found a number of quick fixes for home sellers that could result in substantially higher offers.
With the Stamp Duty holiday extended until the end of this month, buyers may have a little more money to spend on a property. To maximise the purchase price, Rated People’s Home Improvement Trends Report has found the top 15 issues that could be addressed to help sell your home.
Following the pandemic, cleanliness has become important, with dirt, clutter and unpleasant smells likely to reduce an offer by over £50,000.
Nearly two-thirds of buyers (61 per cent) said that they would reduce their offer if a property was not clean, with 43 per cent saying they would not even view somewhere that appeared unclean in photos.
The issues included are simple to fix with a day or two’s hard work or some professional help. The study found that by doing the work, an offer might be as much as £53,897 higher.
The top 15 issues most likely to devalue a property in 2021
1. Signs of damp/mould £9,571
2. Cracks in walls £9,495
3. Mess and clutter inside £9,290
4. Scuffed paintwork and marked walls £9,254
5. No double-glazing £9,144
6. Peeling wallpaper £9,023
7. Dirty bathroom £8,966
8. Rubbish/debris in front of the house £8,963
9. Broken/missing fence panels £8,957
10. Bad smells inside £8,947
11. Dirty kitchen £8,882
12. Outdated décor £8,851
13. Dirty/stained furnishings, carpet, curtains
and sofas £8,849
14. Overgrown garden £8,817
15. Broken/damaged windows £8,624
Home improvements that add the most value
The research also looked at what is important to homebuyers when looking for a new property. The most valuable home improvements are:
1. Self-contained annex £14,385
2. Loft conversion £12,951
3. Kitchen extension – large kitchen/diner £11,514
4. Newly renovated kitchen £10,649
5. Summerhouse/garden room £9,188
6. Newly renovated bathroom £9,011
7. Garden office £9,008
8. Walls knocked down to create open layout £8,999
9. Landscaped garden £8,547
10. Walls built to create separate spaces £8,123
11. New driveway £8,012
12. Home gym £8,004
13. Home office (inside the home) £7,630
14. Bespoke storage £7,049
15. New wooden flooring £7,255
16. Outdoor cooking area – BBQ/pizza oven £6,859
17. Garden bar £6,687
18. Home bar (inside home) £6,575
19. New carpet £6,396
20. Vegetable patch £6,093
The survey was conducted by questioning 2,000 UK residents and analysing 536,040 jobs posted on Rated People in 2019/20.
If you are thinking of buying or selling a property and you would like to speak to one of our expert lawyers, ring us on 0333 305 5189 or email us at info@lpropertylawyers.co.uk
