Tue 24 Mar 2015

A bad neighbourhood #1 factor to devalue a home

Research conducted by Move with Us, home of the largest network of independent estate agents has revealed that a bad neighbourhood most devalues a home. Estate agents were asked which three things they believe most devalue a home.

A bad neighbourhood topped the bill with 75% of the vote. High local crime rates came in second with 43% and followed by loud, unfriendly neighbours at 31%. Badly performing schools received 28% of the vote.

In terms of the property itself, a poor kitchen most devalues a property with 30% of the vote, bad smells came in second place with 23% and mess in third place with 21%.

Simon King, Director of Move with Us commented: “Buying a home is a big purchase and requires lots of research, particularly if it’s in a new area. Any would be home owners can check local crime statistics at the government site www.neighbourhood.statistics.gov.uk and how well a school is performing at www.ofsted.co.uk. It’s also a good idea to ensure there are great transport links and lots of local amenities in the area. It can be fun conducting research by dining out at local restaurants and visiting the local pubs. A recommended, accredited estate agent will be able to advise you on the local area if you are unfamiliar with it.

“Anyone interested in selling could consider investing a little time and money in upgrading a rundown kitchen or bathroom. This doesn’t have to be a big expenditure as a fresh coat of paint and some new doors for the kitchen cupboards can work wonders. Tidying up the property before viewings is an absolute must and doesn’t cost anything other than a little elbow grease. Aside from making the property feel more spacious, it will give the owners the assurance the property has been cared for which is crucial for such a life changing transaction.”

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