A new survey has found that 44% of homebuyers look for 20% off the asking price of a property if they are unhappy with the exterior. According to Barclays Mortgages, sellers could lose on average £57,600 if the property doesn’t have ‘kerb appeal’ – what a buyer thinks it looks like on first glance. For homes […]
A new survey has found that 44% of homebuyers look for 20% off the asking price of a property if they are unhappy with the exterior.
According to Barclays Mortgages, sellers could lose on average £57,600 if the property doesn’t have ‘kerb appeal’ – what a buyer thinks it looks like on first glance.
For homes in London this figure goes up to as much as £107,400 knocked off the re-sell value.
The survey of over 2,000 homeowners found that the majority of house-hunters take just 10 seconds to decide whether they like a property from the outside.
One in three property buyers make their decisions purely on a home’s exterior and won’t even go inside if they’re unimpressed.
Meanwhile, over half (53%) admit they would buy a property that looked appealing on the outside even if the interior needed extensive redecoration.
Most desirable kerb features
If you’re looking to impress a buyer, the most desirable kerb appeal feature is a well-manicured garden (69%), followed by double glazing (60%).
A parking space (59%) is also a popular feature as well as neighbours will well-kept (51%) properties.
Modern brick is the favoured exterior material,l with 74% choosing it as the best option.
Least desirable kerb features
There are however many features that leave prospective buyers feeling definitely unimpressed.
Seven out of 10 people would be put off buying a property if they spotted vermin control nearby, while 58% said they don’t like an unkempt garden.
Buyers are also put off by noisy communal buildings (53%) or busy transport links (51%).
On the much debated subject of front doors, classic white and black top the list and more garish colours such as orange, pink and purple were least favoured. When looking at surrounding elements, a BMW is the car manufacturer portraying the least appealing image of a property, while a MINI gives the best impression.
Concrete was named the least liked house facia, with 64% finding it off putting and a further 62% finding brightly coloured rendering the biggest turn off.
Craig Calder, director of Barclays Mortgages, said “We know that one of the big questions that arise amongst 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.”
