What Brings Down the Value of a House?

The value of your house can be affected by many factors. Some are out of your control, but you can tackle most of them yourself and achieve a property sale you’re happy with.  In this guide, we’ll provide helpful information around what brings down the value of a house. We’ll also explain how to solve some of the most common issues so you can move on to the next stage of your life in a home you’re happier with.  Here at Chancellors, we can help you sell your house for the highest possible price, regardless of the reasons why its value may have been brought down. Contact us today for more information about our house selling services. 

10 Things That Bring Down the Value of a House 

In the UK, there are lots of reasons properties fail to reach their asking prices. From problem neighbours to economic factors, and much more besides, let’s look at some of these reasons in detail and the ways you can tackle them. 

1. Problem Neighbours

We’ve all been there; loud neighbours, rude neighbours, and nosy neighbours that put a strain on your daily life. Unfortunately, not only can this give you a headache, but it can mean a lower asking price for your home.   Then there’s hygiene, and if neighbouring properties are dirty, untidy, or damaged from the outside, buyers may be discouraged from putting a serious offer in on your property.   The only thing you can do about problematic neighbours is have a friendly conversation with them if you’re on good terms. Your only legal course of action will come if they damage your property or if they are causing environmental health violations.   In this case, you can try and get the council and police involved. 

2. Smoking

According to research carried out by The Woolwich, 70% of people would offer thousands less if a house smelled of smoke. This is a massive stumbling block for lots of sellers, but unlike difficult neighbours, there are things you can do to resolve this one.  To start, carry out a deep cleaning of your home yourself or hire a professional cleaning service to do it for you. Make sure you point out the issue of smoke and they’ll have specific ways of dealing with it.  You might also consider repainting the interior walls and window frames and getting rid of furniture that’s holding that off-putting, smoke smell. 

3. Problems in the Local Area

It’s not just your immediate neighbours that can put buyers off your property.   If the area has gone a little downhill, with more crime, business closures, or closure of public transport links, the price of your property can be negatively affected. Empty houses in your street may also be a contributing factor if lots of people have decided to move on due to the area’s decline.  Sadly, there’s not much you can do about this, and you will probably have to brace yourself for a lower price than you had hoped for. 

4. Economic Factors

The economy is a huge contributing factor to the saleability of your home. If the country is experiencing a housing crash, for example, then homes will be worth less than in a housing boom.   Then, there’s inflation, with high inflation leading to higher mortgage interest rates. This can make people more selective about the properties they buy and less likely to meet your asking price.  Employment also plays a role and if unemployment rates are high, housing demand and house prices tend to fall. You can check employment rates in the area to find out if this is affecting your lack of good offers, but it pays to speak to an expert.  For advice on selling your property if you’re struggling, get in touch with Chancellors.  Also, find out more about why your house is not selling. 

5. Outdated Decoration and Unfashionable Furnishings

If the inside of your home is a little old-fashioned, it’s likely to deter potential buyers.   From the carpets to the wallpaper, kitchen units, and even the door handles. All of these can play their part in giving a bad first impression to buyers which can lead to lower offers (or no offers at all).  While renovating a home you’re about to sell might feel like a backwards step, it could be worth it if you’re not receiving the kinds of offers you hoped for. Ultimately, you could add significant value to your home by making some sensible changes.   On the other hand, there are some issues that are not worth fixing. Read our article on what not to fix when selling your house for more information.  

6. Structural Damage

The overall condition of your house is a huge indicator of the offers you’ll receive for it.   Cigarette smoke, as we mentioned above, not only leaves a bad odour, but it can lead to discolouration of wallpaper which may put buyers off. Then, there are deeper structural issues like roof damage, damp seeping through the walls, or weakened floor joists that have sunk.  However, if your house is in poor condition, there are lots of things you can do to spruce it up without breaking the bank. From a fresh lick of paint to cleaning the furniture and carpets, you can add thousands to the value with relatively little work.   And if you’re still struggling, find out how to sell a house in poor condition here. 

7. Japanese Knotweed

A gardener’s favourite in the 1800s due to its resemblance to bamboo, Japanese Knotweed is now a serious problem for homeowners in the UK.  Growing quickly and aggressively, it can target structural weaknesses in your property and cause damage as the weeds grow through them. These weeds can be as large as 15 feet deep and can lay dormant for decades before starting a growth spurt.  This could seriously dent your house value, with some mortgage lenders refusing mortgages on affected properties.  To tackle Japanese Knotweed, you should cut the cane from its root and apply glyphosate weed killer. Seven days later, dig out the weed and mow down any visible plants once a week. You should then continue to apply glyphosate twice a year.  If none of this works, contact a professional.  

8. Poor Kerb Appeal

Kerb appeal is the visual representation of your home from the outside. It’s the first impression, and as the old saying goes, you don’t get a second chance at a first impression.  Put yourself in the buyer's shoes. You’re excited to view a property that looks great online, but you get there and there’s paint peeling off the walls, the garden’s a mess, and there’s rubbish outside the door. Chances are your excitement will turn to frustration and there’s little chance you’ll make a strong offer.  Fortunately, you can improve your kerb appeal with a bit of elbow grease and determination. You can also check out our resource guide on how to improve kerb appeal.  

9. Property Disputes

Legal battles could ensue from boundary disputes which is not something most buyers want to deal with.   If your HM Land Registry entry is listed as Possessory Title or Qualified Title, property ownership can be questioned. This does not apply if it is listed as Absolute Title.  If you’re selling a house and don’t want to get into disputes with the buyer, we can help. Check out our handy guide on what you have to legally disclose when selling a UK property. 

10. Pets

Your pets may be part of your family, but many buyers won't appreciate the smell they can leave behind. Cat litter trays that haven’t been cleaned or a whiff of wet dog can lead buyers to seek price reductions or be put off completely.   Pets can also cause damage to the interior of the home, which can result in lower offers. However, it’s the smell that puts most people off, so get the cleaning apparatus out and commence a deep clean before taking viewings.   If you aren’t sure about the smelliness of your home, ask someone you trust about the state of things. You can also ask them to point out any pet-related items that could be a put-off to buyers.  

How to Add Value to a House

If you’re receiving lower offers for your home than you expected, you may also value your home higher than it's worth. This is common for homeowners who have lived in a place for a while or have done work to the property themselves, because they have that personal connection that leads to clouded, optimistic judgment.  To get a true valuation of your home, check out our sold property price data. You can also look at the HM Land Registry to see how much properties have recently sold for in the area. In addition, you can request a professional valuation, although this comes with an additional cost.   As well as checking out the local area, you can also: 

• Clean your house, inside and out 
• Take viewings in the daytime rather than the nighttime 
• Resolve disputes if there are any 
• Fix structural problems, if financially viable

All of these will give you a better chance of achieving a sale you’re happy with for your property. Check out our article on how to add value to your home for some great tips.  

Sell Your Property With the Experts at Chancellors 

If you’re struggling to sell your home, there are things you can do to change your situation. One of these is recruiting an expert to sell your property for you, which is where Chancellors’ expertise comes into play.   Helping you achieve the best price for your property and resolve issues that may be holding you back, we make sure we reach a sale that you’re happy with. We have years of experience and understand what makes a house attractive to buyers, and what puts them off, so you know you’re in safe hands.  We offer all kinds of specialist services to home sellers across the UK, including Berkshire, Buckinghamshire, Oxfordshire, Hampshire, Surrey, London, Wiltshire, Herefordshire, Worcestershire, and Mid-Wales.   To get started or to find out more information, contact us at one of our branches.