- 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
Home sellers could see buyers offer an average of £57,600 less on their property 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 below the asking price if they found the exterior of a property off-putting.
The research also found buyers would be put off if they see a BMW parked outside, but a MINI makes a good impression – a somewhat ironic finding as MINI is actually owned by BMW.
Kerb appeal: Homebuyers say they would deduct 20% from the asking price if an exterior was not appealing
But a good looking exterior could attract buyers even if the inside needed work, the survey found
The Barclays survey, of more than 2,000 homeowners, found it takes buyers just ten seconds to decide whether they like a property – making ‘kerb appeal’ vital.
More than a third, 35 per cent, of property buyers said they make their decisions purely on a home’s exterior and won’t even look inside if they are left unimpressed.
Indeed, some 53 per cent admitted they would buy a property that looked appealing on the outside, even if the interior needed extensive redecoration.
Based on the stated 20 per cent deduction from the asking price if the exterior is not appealing, this would hit especially hard in London, where the average price is £537,000 – knocking up to £107,400 off the offer.
The table below shows how offers could be affected depending on the region of the UK you live in.
|Region||Average House Price||Lost value|
|Yorkshire & The Humber||£184,000||£36,800|
|(Source: Barclays Mortgages survey / ONS house prices)|
On the much-debated subject of front doors, classic white and black top the buyer shopping list, while more garish colours such as orange, pink and purple were least favoured, according to Barclays.
When it comes to the look of the property, concrete was named the least liked house facia with 64 per cent finding it off putting and a further 62 per cent finding brightly coloured rendering the biggest turn off.
A MINI parked on the drive will attract buyers, good news if you’ve got one… if not perhaps borrow a friend’s
A BMW on the drive will put buyers off, so perhaps hide it round the corner if you own one
The least desirable kerb appeal features
More than two thirds said they would be put off by vermin outside the property, while 58 per cent said they disliked an unkempt front garden,
Buyers were also put off by noisy communal building such as pubs near by, or if busy transport links could be heard nearby.
Half were also put off by being close to fast food outlets.
|House feature||Percentage of buyers 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 like a well manicured garden while 60 per cent like double glazing.
A parking space was favoured by 59 per cent and others also valued appealing looking neighbours’ houses and gardens.
Modern brick was the favoured exterior material with 74 per cent choosing it as the best option.
|House feature||Percentage (%)|
|A well-manicured garden||69%|
|A parking space||59%|
|Appealing neighbouring houses||54%|
|Neighbours having well-manicured gardens||51%|
Craig Calder, director of Barclays Mortgages said ‘We know that one of the big questions that arise among homeowners is “how can we improve the value of our existing property?”
‘It’s fascinating to see the importance that the exterior of our homes can have. We would encourage all homeowners to think about their own property’s kerb appeal and understand that getting the small details right can be one solution that can really boost the financial value of your home.’
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