"If you’re in a dispute with your neighbour about unclear boundary lines, this can devalue the price of your property to potential buyers. In fact, 24% of Brits would be put off purchasing a home altogether if boundary lines were unclear"
- Oren Kander - Gaffsy
If you’re planning on putting your property on the market, it’s important to present your home in the most appealing way to attract buyers. However, as Oren Kander, senior valuer at Gaffsy explains, beyond 'kerb appeal', there are certain other issues that could seriously put off any potential buyers.
1: Spray Foam Insulation: Estimated devaluation of 15%
Many mortgage lenders will not lend for properties that have foam spray insulation installed, making it difficult to sell, and causing a reduction in the value of your home.
Spray foam insulation can cause a multitude of problems with your property if installed incorrectly. For instance, timber-framed roofs are at risk of decaying, due to damp and condensation, caused by poor ventilation from closed-cell spray foam. Another issue with closed-cell spray foam is that it sets hard, which can cause further stress to roof timbers, which can result in distortions.
In the first instance, explore different mortgage lenders to see if you meet their criteria regarding the type of foam spray used in your property and its installation. Any paperwork from the installation should be presented to surveyors to help them make an assessment on the condition of your home. Consider calling in a specialist to carry out removal works to ensure that it is removed as safely and effectively as possible.
2: Damp Problem: Estimated devaluation of 5 - 30% depending on severity.
Damp in the home will devalue the price of your property, but how considerably will depend on the severity of the problem. Rising damp is a serious issue which can not only ruin the decoration of your home, but can cause structural issues, such as crumbling walls and timber decay.
With nearly half of Brits (49%) stating that they would be put off purchasing a home with damp, it’s worth facing the problem to prevent deterring any potential buyers. Consider hiring a professional to treat the issue, or commission a damp survey to be carried out, so that potential buyers are aware of the costs involved for its treatment. This will help to avoid any lowered offers, where buyers are not fully informed about the expected costs involved.
3: Noise Pollution: Estimated devaluation of 5-10%
It can be difficult to sell your property if it is not protected against forms of noise pollution, such as busy roads or unruly neighbours. In fact, 1 in 5 Brits (22%) would be put off purchasing a home which has single glazing, with 2 in 5 Brits (43%) deterred by spotting noisy neighbours.
Consider investing in new windows, either double or triple glazing, as a large proportion of home buyers will be looking to purchase a property in a ready-to-move-in condition.
If noisy neighbours are causing you trouble, consider mediation where a third party will help you to reach an agreement. If the noise is considered to be a statutory nuisance, making a complaint to your local council is also another route you can go down to work towards a resolution.
4: Unclear Boundary Lines: Estimated devaluation of 5-15%
If you’re in a dispute with your neighbour about unclear boundary lines, this can devalue the price of your property to potential buyers. In fact, nearly a quarter of Brits (24%) would be put off purchasing a home altogether if boundary lines were unclear.
In order to ensure a hassle-free sale, it’s important to determine the legal boundary for your property. Consider seeking legal advice, where action such as a professional survey and subsequent boundary agreement can be signed, which is a legal document outlining the agreed property lines and any specific terms related to land use or maintenance.
5: Signs of Pests: Estimated devaluation of 10%
Having a pest problem in your home can cause the price of your property to be devalued, particularly if the pests in question, such as rodents, are causing structural damage.
1 in 3 Brits (34%) have admitted that signs of pests would put them off purchasing a home. To help make your property more appealing, it’s crucial to take action against pests, regardless of the current severity of the situation.
If you have pests, such as ants or fruit flies, consider DIY solutions; apple cider vinegar can make a great trap for fruit flies, whilst an effective trap for ants can be a paste made from mixing baking soda, sugar and water. Know when it’s time to call in a professional: your local council and private businesses can provide pest control services, to help offer advice, support and termination of pests.
