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Features that Knock Down Your Asking Price

  • 7 years ago

Every house-hunter has their own taste when it comes to interior décor and the features they’re looking for in a new home. However, once you get past someone’s love for puce walls and day-glo crazy-paving, there are some core features that will discourage buyers no matter how – ahem – niche their sense of aesthetics is.

Satsuma Loans recently asked 2,000 people for their top nine turn-offs that will either nix a sale or lead to a lower offer.

Old boilers

Old boilers and clunky old radiators are a major negative – they’re not only expensive to either replace or run, but they’re also a potential hazard to occupants. If someone spots a dodgy-looking boiler, they feel quite justified in asking for £750 off.

Single glazing

You’ll face a similar request if you don’t have double glazing, with offers coming in at £725 below your asking price.

Outdated wiring and bathrooms

Outdated electrics or wiring and avocado bath suites will lose you at least £700 on your asking price.

Other no-nos

Beware of mould in the kitchen or the bathroom, as it could cost you up to £500, as could threadbare or particularly grubby carpets or scratched wooden or laminate flooring. If your taps are rusty or just a bit decrepit and leaky you’ll lose up to £270.

In addition to old carpets, a lack of natural light can cost around £450, with insufficient storage options knocking off £360.

You should also pay attention to your garden, as an overrun or messy space will knock off at least £300!

Knockdown hotspots

The survey worked out which locations in the UK were the worst for asking price reductions. Gloucester came top of the list, with sellers losing an average £1,100 off the original asking price. Then came Belfast with an average of £1,025, followed by Worcester, Leeds and Leicester.

The moral of this story, it seems, is to look for anything that’s seen better days and to bring it up to date!

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