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What Are The Top Turn-Offs for Buyers?

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Ian Williams  Ocean Finance 

What Are The Top Turn-Offs for Buyers?

By - Wednesday 21 August 2013

While demand for property in the UK is rising, sellers still need to make their homes attractive to buyers in order to receive the best rates. New research by Ocean Finance has revealed the top turn-offs for people on the hunt for a property and - perhaps worryingly for sellers - the biggest deterrent is noisy neighbours. While outside of a vendor's control, it seems 55 per cent of 28 million people consider the people next door to be a major factor.

Mouldy rooms are a big no-no for prospective buyers too, with 49 per cent claiming it would put them off a house. Complete fixer uppers are also a deterrent, with 43 per cent not attracted to a home in a poor state of repair. However, Ocean Finance claims buyers are savvy when it comes to understanding what can easily be fixed in a prospective home. Just four per cent are put-off by an overgrown garden, while two per cent are swayed by decorations. Brown or green bathroom suites are a deal breaker for four per cent, while stone cladding turns off seven per cent.

It seems prospective buyers are more deterred by properties with no central heating (30 per cent), untidy neighbouring gardens (28 per cent), unpleasant smells (27 per cent), badly kept communal areas (16 per cent) or no double glazing (14 per cent). Interestingly, partially completed decorating or building work is a turn-off for just eight per cent.

However, age was seen to have a big effect on the practices of buyers. Younger people are half as likely to be put off by noisy neighbours, but older generations are willing to put up with problems like a lack of central heating. Only 25 per cent of people aged 55-64 and 27 per cent of buyers aged 65 are deterred by no central heating, compared to 36 per cent of 25-34 year olds.

Ian Williams from Ocean Finance said: "It's good to see that buyers are generally very savvy about what gives a home a lot of potential. It isn't about decoration, which can be changed relatively easily - it's about how pleasant the area and the house are to live in. Buyers also seem to know that more insidious problems like mould are also best avoided unless they have the funds and the time to make all the necessary repairs and changes."

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*This page is provided for information purposes only and should not be construed as offering advice. IPIN is not licensed to give financial advice and all information provided by IPIN regarding real estate should never be treated as specific advice or regulations. This is standard practice with property investment companies as the purchase of property as an investment is not regulated by the UK or other Financial Services Authorities.


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