The biggest homeowner nightmares that can knock £50k off your property’s value
We give market commentary when journalists or news outlets approach us directly for comment on specific topics. We share our commentary here too. See below.
We’re a nation of aspirational homeowners, and finally getting on the property ladder can be a dream come true. However, this dream can soon become a nightmare if your home ends up with one of these property issues - and their impact on your home's value can be severe.
The most costly property issues revealed and ranked
Our team have taken a look at the biggest property nightmares for UK homeowners and how much they can knock off when it comes to the value of your home.
The research shows that: -
- Subsidence is the number one nightmare for homeowners with homes devalued by as much as -20%; that’s over £50,000 on the current UK average of £251,500. (Click here to learn more about selling a house with subsidence)
- Japanese Knotweed comes a close second, with the destructive plant causing a -15% drop in the value of your home. That’s nearly £38,000 wiped off when you come to resell if you don’t get rid. (Click here to learn more about selling a house with Japanese Knotweed)
- Living too close to a powerline, mobile phone tower or wind turbine can devalue a home by -13% (£32,695). Similarly, a new power station within view can also cause a -5% drop in the value of your home.
- Living in a known flood risk area and the potential risk of water damage that comes with it can see the value of your home fall by £25,150 (-10%). (Click here to learn more about selling a flood damaged home)
- Believe it or not, simply failing to maintain your garden can be a big deterrent to buyers, reducing the value of your home in their eyes by as much as -8.2% (£20,623).
- Other more minor structural issues ranked as the next biggest nightmare, causing a 5.4% reduction in value (£13,581)
- Nuisance neighbours can also see your property fall by -5% in value (£12,575).
- While a pain to rectify, damp (-1%), asbestos (-1%) and woodworm (-0.5%) have a far lower impact on the value of your property.
To read more, check out our full article here: The most costly property problems revealed
Selling a home with one of these issues
So, what do we suggest when it comes to these types of property problems?
Getting the best financial outcome
If you're looking for the best financial outcome then your best bet is always going to be to stick around, roll your sleeves up, and dive in and get the issues rectified.
Whether this means getting on to your insurance company to resolve a subsidence issue, getting a treatment plan in place for Japanese Knotweed, or getting the specialists in to remove asbestos, if you can resolve the issue and then sell your home, you'll get the highest price.
If can take a fair bit of time and effort, and sometimes a lot of waiting. But for many homeowners the extra cash will be worth it at the end of the process.
Getting the easiest outcome
However, not everyone has the time, effort, or inclination to hang around and do that work. For some, it's easier to sell the house for a little less, and leave the problem to someone else.
If you fall in to that camp then our service could be perfect for you. We can purchase your home quickly in a smooth, direct sale - issues and all. It's all part of our "we buy any house" service - click that link to learn more.
Opting for our service can allow homeowners to recoup the majority of their investment, and proceed with their plans to move.
Current average house price: Gov.uk
Subsidence, Power Lines etc, Flood risk etc: Housebeautiful.com
Poor upkeep/overgrown Gardens: Express.co.uk
Power stations within local area: Homelight.com
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Selling your home to Yes Homebuyers
- Yes Homebuyers buy your home directly from you so you can sell your house fast and avoid waiting around to find a buyer on the regular market.
- We offer flexible timeframes to suit you and on average, complete a sale within 30 days.
- Yes Homebuyers' quickest completed purchase was made in six days.
- We guarantee the price we will pay, unlike some buying platforms who reduce their offer shortly before completion.
- There are no fees or costs involved and we cover all legal fees involved.
- There are no contracts or tie-ins even if you accept an offer, and no viewings to take care of.
About Yes Homebuyers
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Contact us for a free valuation and offer. We can buy your home in as little as 14 days.
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