4 unusual things that could be reducing property value

4 Unusual Things That Could Be Reducing Your Property Value

There Are Lots Of Factors Which Determine A Property’s Value

If you’re selling your home in London, you’ll already be aware that there are a lot of factors that come into play when determining the asking price of your property.

However, you may be surprised to discover that some more unusual elements could actually be causing your home’s value to drop. The team at Lyss Homes has noticed these four strange things that could impact your home’s worth.

1. Your House Name Or Number

It’s hard to believe in this day and age, but in fact, superstition has quite a significant impact on house values. If your home happens to be number 13, it’s possible you’ll struggle to find a buyer (and, indeed, there are several streets in East London that have no number 13 at all for this very reason!) House and street names may also have a damaging impact if they bring negative connotations to the person who is viewing your home. Interestingly, though, your street name could also work in your favour – living on a “lane” is likely to result in a higher home value than living on a “street”!

2. Local Broadband Speeds

Homes that have limited broadband or only slow connections could end up with a selling price as much as 20% less than other similar properties that have strong internet connections. These days, a good internet connection isn’t a luxury but a genuine requirement, particularly with so many people working from home at least some of the time. Here at Lyss Homes, we have even found some buyers who place broadband speed higher in their priority list than factors such as transport links!

3. Your Pets

While your furry friend is, no doubt, a much-loved part of your family, not everyone is equally keen on pets. If someone who doesn’t like cats or dogs is viewing your home, it’s possible they could be put off by your four-legged friend wandering around or pet smells in your home. While your pet isn’t going to be there if they buy your home, it could still give them the wrong first impression and could lead to them offering a lower amount in turn, so it’s best to take your fluffy companion elsewhere during viewings.

4. Parking Issues

If your home has a garage or driveway, you shouldn’t have any problems in attracting buyers, especially in city areas where on-street parking is at a premium. We’ve even seen dedicated parking spaces adding as much as £50,000 to a property’s value!

However, if you live in a property with no private parking, it could have a negative effect on your home’s asking price. A lot of potential buyers put parking high on their priority list when looking for a new home, and if they are likely to face difficulties in parking their vehicle close to their front door, it could end up being a deal breaker.

If you’re looking for advice about selling a house in London or if you’re searching for a reliable agent to list your home on the market, look no further than Lyss Homes. As experts in the East London property market, we’re looking forward to helping you find a buyer. Call us now on 02080505452 or send us an email at info@lysshomes.co.uk to find out more. 

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