Common property problems could knock £50k off value – from location to gardens
Most Brits would think to renovate their house in a bid to increase the value of it.
But that's not always the case, in fact, it often depends on other things.
According to research from Yes Homebuyers, there are 11 common property nightmares homeowners must know about.
It found subsidence, also known as sudden sinking or gradual downward settling of the ground's surface, as the number one issue.
Structural damage can deter buyers completely and could see homes devalued by as much as 20%.
The current average UK house price is £251,000, which means a whopping £50,000 could be knocked off the asking price.
Japanese Knotweed comes in close second with the intrusive plant leading to potentially a 15% drop in the value of your home.
That would equal to a decrease of almost £38,000 in the average price of a home.
Another issue that can devalue a home is how close it is to a power line, mobile host tower or a wind turbine.
If one of these are nearby your house, it could see the value reduce by as much as 13%, in other words £32,695.
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A new power station can have the same effect, with the price of your home possibly decreasing by as much as 5%.
Even living in a known flood area with the potential risk of water damage could see the value of your home drop by around 10%.
And if you own a garden that hasn't been maintained that's also going to take money off your asking price.
The study found an untidy garden could reduce the value of your home by as much as £20,623 or just over 8% of your home.
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Other minor structural issues can cause a reduction of around 5.4%, the research added.
Even annoying neighbours could have an impact on the value of your home too, with it falling by around 5%.
Damp, asbestos and woodworm might also damage the value of the property too.
Matthew Cooper, Founder & Managing Director of Yes Homebuyers, said a home with problems can be a "bitter pill to swallow".
He added: "Working hard to climb the property ladder, only to find your property fall in price due to matters that are largely out of your control, can be a bitter pill to swallow.
"In the most serious cases of subsidence and Japanese Knotweed, homeowners can see thousands wiped off in value and this can also be the case for external factors such as new mobile phone towers and flooding.
"All too often we see home sellers opt to use our service, as such an occurrence has caused them to struggle to find a buyer and is preventing them from progressing with their onward purchase.
"While we have to carry out our own due diligence on every property, opting for a homebuying platform can at least allow them to recoup the majority of their investment and proceed with their plans to move."
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