When selling your house, there are always certain requirements that buyers may be searching for or elements that might catch their eye.
But there are things that can add value to your house – and things that may actually detract value, research reveals.
Elements that can add value to your house
Research from consumer advice group TheAdvisory has revealed the top factors that add value to your property.
The following factors can add value to your house:
- Odd door number – Adding up to £538 value
- Local Waitrose – Adding up to £40,000 value
- Local Aldi – Adding up to £5,000 value
- Local farmers market – Adding up to £87,000 value
- Local Ofsted grade 3 school – Adding up to £52,000 value
- Off street parking – Off street parking could see the price of your property soar to between £20,000 to £50,000
- Names – Research revealed that the name of the road the property is located on can increase its value by up to 73 per cent
- Blue plaque – Research revealed that blue plaques can give your property a 3 per cent to 5 per cent boost in value.
- Energy efficiency – TheAdvisory research also showed that top energy efficiency bracket could add 14 per cent on average to the value of your house
- Local food and drink amenities – In some areas with Michelin-starred restaurants, property prices were worth 50 per cent more than the regional average. Research also shows that having a local Waitrose store on your doorstep can add up to 12 per cent, or nearly £40,000, on the average property, and M&S can increase prices by 9 per cent.
- Fishing rights – If you have a waterfront property and have the right to cast a fishing line into the water then you could see the price of your property increase to between 10 per cent to 15 per cent
Elements that negatively affect value
Japanese Knotweed – According to the latest Land Registry price index, the average UK house costs £226,798. Research revealed that the presence of Japanese knotweed has diminished the value of affected houses by 10 per cent.
Superstition – 10 years’ worth of Land Registry data, revealed that homeowners trying to sell number 13 properties are often forced to accept offers that are significantly lower than usual. On average, they can expect to receive 4.1 per cent less when selling their property, than those who live at a different number
McDonalds and Primark – According to research, having a McDonald’s nearby can knock as much as 24 per cent off the value off the average property, while a local Primark can knock 23 per cent off average property values
Crime – Almost half of 2,000 Brits polled said they would check crime statistics in neighbourhoods they might live in. A total of 47 per cent would not buy a home in an area with a high crime rate and over a third (36 per cent) admit that they would expect to pay less for a property in a high crime area
Nuisance neighbours – Living next to nuisance neighbours in the UK has the potential to reduce average homes values by up to £31,000
This article was originally published on our sister site, Yorkshire Evening Post.