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Issues That Affect House Prices Which Are Out of Your Control

Understand what property buyers want from homes in the UK, and selling your own home shouldn’t be too difficult. Or so you might think. According to a study by My Home Move, many house buying priorities may be out of an owner’s control.

Does this mean that getting your home in great shape is a waste of time? Of course not. But it does mean that there might be a price cap on your property that is almost impossible to raise.

More than half of the respondents in the survey revealed they had bought a home simply because they fell in love with it. This subjective approach isn’t all that surprising. After all, we develop a very emotional bond with the place we call home.

But what makes someone fall in love with a property?

It might surprise you to learn that buyer love is rarely generated by a stunning kitchen or a converted garage. Various external factors play a bigger role, at least according to My Home Move. Here are a few of the most common issues that affect house prices.

Location

Issues that affect house prices

Location is still the most crucial factor driving house prices and demand. According to the survey, 58% said location was the single most important issue. In many cases, proximity to a place of work was key. But also important to home buyers are the proximity of local schools, transport links and public services.

Financial issues

The second most important factor related to house buying decisions was fiscal responsibility. Does the asking price reflect the current market conditions? Does the property offer long-term investment opportunities and growth potential? How much will need to be spent on maximising the property’s value potential?

The neighbours

Sadly, you can’t really choose your neighbours — regardless of how much you’d like to. One of the questions most house buyers will ask during a property viewing is: What are the neighbours like? And if you can’t talk about them in glowing terms, you might be at a disadvantage.

Issues that affect house prices — nuisance neighbours

While there are certain legal opportunities at your disposal, dealing with nuisance neighbours takes time. And if lawyers are involved, it also takes a lot of money. But at the end of the day, who lives next to you is out of your control.

If you’re struggling with nuisance neighbours, the value of your home could be affected. And selling it may take a lot longer than you initially bargained for. That’s where we come in. SellPropertyFastCash is a national house buying company that cuts out much of the hassle and stress of selling property. Sell your home directly to us in a matter of weeks — and leave the problem of nuisance neighbours to someone else.

Factors you can control

Thankfully, respondents in the My Home Move survey identified a good garden as a top priority. And although you can’t do much about the space you can offer, you can ensure your gardens are attractive and functional.

And then comes all the other stuff. Everything from the number of bedrooms your home has to its general condition affects both price and demand. Issues such as mould, historical movement, unsatisfactory searches and energy efficiency all contribute to your home’s value. Crucially, they’re all very expensive to rectify. If you’re not planning on staying in your home for the long term, cutting your losses by selling up may be the best option.

If you want to sell your home as fast as possible — leaving someone else to deal with its issues — we can help. Contact us to discuss your house selling requirements, and you won’t need to worry about what buyers on the open market are looking for.

Do Broadband Speeds Affect House Prices?

Broadband speeds are still woefully low in many areas of the UK. People in rural areas are still struggling to get speeds that can handle streaming the likes of Netflix and Amazon Prime. And if you’re a homeowner affected by this issue, it might be doing damage to your property’s market value.

A 21st-century problem for homeowners

The traditional factors that affect house prices still apply today. Whether you have a large garden, the proximity of transport links and the performance of schools in the area all play a part in setting house prices.

But a relatively new factor at play is the average broadband speed in the neighbourhood. More and more of what we do requires a speedy connection to the Internet. If an area simply doesn’t have the infrastructure to support the necessary speeds, interest in homes there suffers. Put simply, fast broadband is non-negotiable for more and more house buyers.

According to Hyperoptic, the demand for superfast broadband continues to grow. A recent survey revealed that 60 per cent of the 3000 people questioned said that speedy Internet access was more important than having an extra bedroom.

Explore all the possibilities in your area

Do broadband speeds affect house prices?

If you’re in the process of selling your home, do everything you can to find a fast broadband service. While you might have to pay a little more than you’d like, the outlay could add thousands to the value of your home.

The Hyperoptic poll revealed that the respondents who prioritized fast broadband in potential homes were very likely to disregard a property that offers less than 9mbps. If your current broadband provider provides less than this, you stand to lose a lot of value in the open market.

But there’s good news — if you can find superfast broadband, that is. According to Hyperoptic, having a broadband speed over 100mbps could add up to £23,000 to the value of your home.

What’s the minimum broadband speed I need?

If you want to secure the average house price for your area, you’ll probably need to offer a minimum speed of 18mbps. If you live in a large town or a city, this shouldn’t be an issue. However, you might find that only one or two providers can deliver what you need — curtailing your options significantly.

Do broadband speeds affect house prices?

But if you live in the country, there’s a good chance you’re still connected to the Internet via old copper lines and antiquated telephone exchanges. If that’s the case, you’ll be lucky to find broadband speeds of 5mbps.

What can I do if there are no options?

Unfortunately, there’s not very much you can do if there isn’t any fast broadband infrastructure in your area. Reach out to all the major providers, and ask when (or if) they plan to increase speeds in the near future. Get your neighbours to do the same. If there’s a demand, a company will agree to install fibre-optic broadband in the area eventually.

Until then, you might have to settle for a slightly lower-than-average sale price. And if you can’t find a buyer because of your woeful Internet speeds, Flying Homes can buy your home for up to 100 per cent of its current market value.

For more information on how https://www.sellpropertyfastcash.co.uk can help you sell your house fast please visits our contact us page.

Sell Property Fast Cash,
Mclintocks,
Summer Lane,
Barnsley,
South Yorkshire,
S70 2NZ
Telephone:0800 68 99 42

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