Most of us who have ever bought or sold a house will tell you, that the major deal breakers when it comes to clinching a sale are obvious – think location, space, condition, transport links, crime, local schools and so on.
There are, however, many hidden factors that could be putting buyers off certain properties. You don’t need to worry though, as there are steps available that you can take to reduce the factors that are impacting your sale.
Selling-Up has conducted an exclusive survey with Populus, one of the UK’s leading market research firms. In the survey, they asked 1000 people to give insight into what they consider to be the key factors that put them off buying a house. These are listed below.
Top Concerns When Buying Properties
With a recent push to promote green living, people are more eco-conscious than you may think. Quite a lot of them are genuinely concerned about energy efficient ratings. This is shown in the fact that 36% of those who were surveyed said that a poor energy efficient rating would lead them to ask for thousands of pounds to be slashed off the asking price.
It was also found that 16% would automatically withdraw interest. However one of the most shocking findings was the effect that noise pollution had on a buyers decision on whether or not to proceed with purchasing the house.
The survey also revealed that the following issues would cause them to alter their bid or pull the ply on their bid altogether:
• Noisy Neighbours
• Noise pollution
• Airplane noise pollution
• Poor/unreliable phone signal
• Extremely dirty and in need of a deep cleaning
• Evidence of pets
• Embarrassing street name
• Number 13 door
• Risk of burglary
• Lack of storage
• Messy garden
• Out of date kitchen and bathroom
• Attitude of seller
• Death in the house
The Rising Concern About Noise Pollution
One of the rising concerns that people have, particularly for people in London and other major cities, is the effect that noise pollution has on their day-to-day lives. There are even campaigners fighting against the expansion of the UK’s biggest airports, Heathrow and Gatwick.
The evidence in the survey demonstrates this, as there were 41% of people who took part in that believed noise from airplanes would make them lose interest or withdraw their offer.
More than over two-thirds of participants would also lose interest or withdraw their offer if they lived near noisy neighbours. This is understandable as if the area is noise polluted the people will most likely have to invest in some noise pollution solutions.
The same has to be said for those who live near tube stations, as there is an increasing amount of noise due to the expansion of train times on the London tube, as well as in other major cities. Residents living near the ‘night tube’ stations are already looking at ways to invest in noise reduction, and it is a serious concern when it comes to their ability to sell their house.
Solutions, such as triple glazing and noise reduction walls can ensure that your house still sells at its guide price. These solutions would essentially negate the buyer’s concerns about vibrations from the noise outside disturbing the time they spend time at their homes.
This survey carried out by Selling-Up clearly shows that when it comes to investing in property, you really do have to think beyond the obvious factors like location and size. Considering all of the possible downsides to living in the property and the likely future will also impact on resale.