Many factors can alter the face value of your property, some more bizarre than others as we at Mansons know all too well!
A dip in value can come from the area that you live in, any negative activity recently associated with it, the character of the home you are planning to sell and also the obvious rivalry from competitors on the market.
Some however, are less obvious....
The 'Waitrose' Affect
Last year, something called the 'Waitrose Effect' was mulled over when considering what alters a property price.
What is it? Quite simply it's where a specific property is located nearby a popular store or social hotspot, one of the factors that estate agents now often mention.
In fact, one specific Lloyds Bank report put a figure on the Waitrose effect at 12 per cent - nearly £40,000 on the average property in the UK.
Similarly, a good market stall or two regularly making a visit to your area can be enough to add figures to your deal.
Lloyds again put an increase on property price tags with this perk, worth sometimes up to £25,000.
It goes without saying that your garden should be well-maintained if you are to add value to your property, or even just maintain that face value.
It is a factor that all first-time or experienced buyers will consider, some putting a sizeable or aesthetically pleasing garden high on their list of demands.
With some even valuing this as 20 per cent of your property value, it's time to get that lawn mower out and put it to good use!
People of different fitness interests will have their own opinions on this particular factor, but even having a home that requires a hefty slog uphill to get around is likely to have an impact on value.
Some properties can even see their value doubled compared to that of your more common street or city-based homes.
[Insert Good Street Name Here]
Let's admit it - we all enjoy a good street name. Whether it's puns, TV show references or a simply royal name that you'd remember, could it really add to your property value?
According to surveys, a house name can create a difference of up to five per cent in value. Not only that, those with the house number 1 are also in possession of a more sought-after home than those with a more obscure number.
FREE and INSTANT valuation!
If you’re looking to make a move and make as much money on the property you are selling as possible, we’re here to give you the best opinion before you make that move. Mansons offer instant online sales valuations for an indication of what your property is worth, plus it’s completely FREE to use from our all-new website!
If you’ve got questions to ask regarding buying, selling, renting or letting a property in the North East, don’t hesitate to come and visit us or contact us at www.mansons.net for assistance!