An estate agent’s valuation of a property takes into account both its strengths and weaknesses to arrive at an accurate price — and these are the features that could reduce your home’s worth
If you’re contemplating a sale or simply wondering what your pad is worth, consider securing an estate agent’s appraisal. Such valuations weigh up both the selling points and downfalls of a property to peg a precise price.
It’s all too easy to wax lyrical about what makes your abode special, but have you pondered what might put off prospective buyers and knock down its value?
Danny Johnson, property whizz from Danny Buys Houses, divulges tidbits on what could tug at your property’s worth. He reveals: “After having bought and sold hundreds of houses, I found the following to devalue a house in most people’s opinion.”
Outdated windows
Tacky, out-of-date windows can be a big turnoff, putting potential homeowners off with the prospect of cold drafts or poor heat retention. Duff windows can weigh heavily on a property’s worth since they’ll likely need replacing — homebuyers nowadays typically expect double-glazing as standard.
The property maven hints that past-their-prime windows might shave off around five to 10% of a home’s market value, reports the Express.
Ugly bricks
And it’s not just glass causing distress. Danny observes that many homes erected in the 60s and 70s come with “horrible brick colours” that might make buyers bolt, potentially dragging the value down by as much as 10%.
Bad additions
Then there’s the peril of half-baked DIY efforts — especially egregious handiwork that hacks away most savagely at your home’s estimated price. Yes, doing it yourself might seem wallet-friendly when improving your home, but it’s got to be done right.
Shoddy workmanship, poor painting jobs and unauthorised modifications can be a major deterrent for potential buyers, often sending them “running for the hills”.
Danny cautioned that these “bad additions” could potentially slash your property’s value by as much as 20%.
If you’re aiming to enhance your home’s worth, it’s advisable to invest in professional decorators, builders and home renovation specialists.
Outdated carpets
In modern homes, hardwood flooring is generally preferred over carpets, and there’s sound reasoning behind this design choice.
Danny elaborated: “Having outdated carpet reduces the value of a house by 5% or more, depending on how much of the house has it.”
Bedroom accessibility
Bedrooms that can only be accessed through other bedrooms can significantly put off prospective buyers.
The property expert pointed out: “This negatively impacts the house in the same way as having one less bedroom would.”
