How Much Does Disrepair Put Off Home Buyers?
When viewing a property, we’re all on the lookout for anything and everything that needs fixing or could use a bit of work.
While we’d all love to find a home that requires no work at all, chances are whenever you buy a property, it will come with its fair share of needed repairs.
But what type of damage to a home is most commonly a deal breaker for prospective buyers? Well, GoCompare has sought to find this out.
New research from the comparison site has quizzed people on which types of disrepair would lessen their enthusiasm for a home and what would completely kill their interest in a property altogether.
It was found that Damp was the biggest hurdle for buyers, with a huge 69% of survey participants stating that signs of damp on the walls and ceiling would force them to withdraw their interest in a home. This is understandable as damp left unchecked can lead to some very serious structural issues.
Not too far behind in the survey results was bad odours at 63% said that smells such as damp, food, cigarettes or pets would be a deal breaker.
Rotten windows and peeling paintwork took 3rd place in the results, with 59% saying that they would not put in an offer if they spotted these blemishes on a home.
As expected, not having a space to park your car is a big issue for 56% of buyers and it is no surprise that in today’s always online world that 53% desire a high-speed internet connection. The same percentage of participants would be put off a home If there was any work on the property that was uncompleted.
Some of the other negatives that made the list were neighbours with a messy garden (48%), a dirty interior (46%), outdated electrics (46%) and poor natural lighting (43%).
GoCompare Insurance spokesman – Ben Wilson – offered his comments on the findings of their research, stating “Buying a home is a major investment and most people are put off by outdated properties or those in a poor state of repair. While dated décor can be remedied easily and relatively cheaply, major flaws from poor maintenance or badly botched DIY can be expensive to put right,
“A grubby home and untidy garden may suggest the current homeowners are not only bad at housework, but may have neglected essential maintenance to the property”.