THE THINGS YOU CAN’T CHANGE Some houses sell faster and for a better price than others that are to all intents and purposes pretty similar in size and features. This can be hard for vendors who think ‘But our house is just as good and we haven’t even had an offer.’ Many of the differences between properties are hard to pinpoint and don’t come down to plain old bricks and mortar and land value. There are several factors that contribute to a home’s appeal that aren’t always immediately quantifiable – orientation (which way does the property face? The same kit home facing north is totally different from one facing south. It will be warmer in winter and get more natural light. Given that more buyers write ‘north-facing’ on their wish list, the north-facing property is surely more saleable (therefore worth more) than the south- facing one. All the same, the owners of the south-facing one probably think that their home has the same features and of course the same value as the one that buyers prefer. A house with a user-friendly layout with a well-thought out design is better than one that just ‘grew like Topsy’. Houses where everything is harmonious make prospective purchasers or any other visitors say ‘Wow’ as the serendipitous arrangement of light, space and other intangibles work their magic. The kind of appeal that makes buyers go ‘wow’ can also come simply from regular maintenance and attention to detail in the presentation of the property. A house that looks loved and cared for is shown to its best advantage, yet it may be identical in most other respects to a less popular property in the neighbourhood. The most intangible but profound impact is often a function of the original design concept of the house and once it is built it cannot be altered. Since is not uncommon for homeowners to “save” money at the planning stage of building or extensions, they often achieve the measurable features they were after but not the elusive ‘wow’ factor. Buyers often prefer a house in poorer condition with good orientation and natural light for example than a renovated one without these features. After all, kitchens can be replaced but the house cannot be made to face another way. Many people add on, or make minor changes to their property as the need arises without taking a holistic view. They think in terms of immediate solutions to particular problems (need large fourth bedroom with ensuite to become master bedroom) rather than conceptualising the impact of the house as a whole (small living area and kitchen and large main bedroom means scale of property is out of whack). Such a house is likely to lack the aesthetic pull of more cohesive designs even though the number of features looks the same when listed. In the end, the things you can’t change about a property are often the least obvious but they can have a very tangible impact on the value of the property.
Posted on: Fri, 07 Jun 2013 23:50:27 +0000
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