Location, schools, gardens, space, condition—all of these factors are potential deal-breakers when it comes to selling a house. While most sellers are aware of the major factors that can sway a deal, there are many hidden factors that may cause potential buyers to back off.
Do noisy neighbours really put people off buying your house? Or do poor energy ratings turn people away more? We take a look at a recent Populus Survey conducted by Selling Up to see what issues do indeed turn buyers off or encouraged them to submit a reduced offer.
Top Deal Breakers
The survey revealed that the following 5 factors were high on the list of issues that put people off buying a property. Noisy neighbour concerns ended up on top of the list, with 70% of people saying this would be a concern.
It seems that no matter how appealing a house maybe if there are any signs of anti-social behaviour from neighbours, it is likely to send potential buyers running.
- Noisy Neighbours 70%
- Evidence of pests 44%
- Sellers attitude 42%
- Airplane noise 41%
- Burglary risks 37%
Other factors include overlooking a cemetery, bad attitude of the estate agent and lack of storage. Understanding these issues can support you in your sale, as you can look to rule out some of these factors as much as possible.
As a seller, it is important to look at how you can reduce the chances of potential buyers being put off once they visit your property. Though something like noise pollution may seem difficult to combat, taking measures such as installing noise reduction windows can make a big difference.
Causations of Buyers Lowering Their Offer
The following factors came out as the top reasons why potential buyers would reduce their offer but would not necessarily put them off. Poor energy ratings appeared to be the top cause for concern, with 59% of people saying they would consider a reduced offer rather than be put off altogether.
- Poor energy ratings 59%
- Out of date kitchen/bathroom 57%
- Poor quality/in need of heavy-duty cleaning 55%
- Lack of storage 44%
- Messy garden 42%
It seems that being in an age where lots of people are environmentally friendly and cost-efficient, sellers need to seriously consider these factors.
Other factors to prompt reduce bids included an unlucky number 13 door and somebody dying in the property. 15% of people said that an embarrassing street name would put them off, which goes to show that sometimes things are out of our control when it comes to selling a property.
Why we all have dreams of the perfect house, in reality, we know that we will need to compromise at some point or another. While we may settle for having to install a new kitchen or fumigating the house before we move in, it seems that some things are a definite no-no.
This SellingUp survey demonstrated the importance to factor in everything that could potentially put off a buyer, so that you can set to alleviate some of the concerns of potential buyers.
Remember those noisy neighbours was on top of the list, so seriously considering installing noise reduction windows may save you a lot of time when it comes to selling your home. Do not overlook this issue.