Home sellers missing out
Home sellers missing out

Home sellers missing out because of dated features

A new report from Satsuma titled ‘Room for Improvement’ has revealed how much potential home-buyers are reducing their offers by, due to specific features, such as dated kitchens and overrun gardens.

Gloucester and Belfast have been found to have the most features which would put a potential viewer off from renting/buying – sellers in both cities are potentially losing over £1,000

The report questioned 1,850 UK respondents, asking them how much they would reduce the asking price of a property per feature. As well as finding out how much those selling a property could be losing out on.

When home-buyers were asked how much they would reduce an offer by for undesirable features, the below was identified as the average price:

Choice                                             Average price to reduce
Old and dated Kitchen                  £ 697.32
Overrun/messy garden                 £ 333.49
Lack of storage                                £ 360.96
Lack of natural light                       £ 450.61
Run down carpets/flooring          £ 476.50
Bathroom/kitchen mould             £ 504.50
Old tap fittings                                £ 267.56
No double-glazed windows          £ 725.94
Old electrics                                    £ 721.60
Old boiler type/old radiator        £ 741.94
Old bathroom                                 £ 701.63

Full data and information can be seen at www.satsumaloans.co.uk/room-for-improvement/

About Roger Bisby

Roger Bisby is an English television presenter and journalist, known for his expertise in the British building industry.

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