Quick property sale? The home improvements which count
Householders wanting a quick property sale should worry less about cleaning windows and buying fresh flowers, and spend more time repainting the front door and replacing old gates, according to new research.
The 2012 HSBC Home Improvement Survey revealed that many homeowners have misconceptions regarding factors which may help them to sell their property.
Half of UK householders (52%) plan to spend time over the Bank Holidays this spring making home improvements. The research, which questioned householders and property valuation experts, also revealed the smaller jobs around the house which can help homeowners to sell their property.
More than half (60%) of property valuers said that the number one way to increase a property's chance of selling quickly, and for a healthy price, was to de-clutter. Cutting the grass and repairing paint chips will also improve house-selling prospects.
However, over two thirds (69%) of homeowners thought cleaning the windows would be worthwhile, compared to just 44% of the property experts. In addition, while 63% of the experts said that repainting or varnishing a front door would make a difference, only 23% of homeowners recognise this.
Householders should also worry less about putting rubbish bins out of sight or washing the car, and concentrate instead on repairing old fences and gates.
Peter Dockar, Head of Mortgages at HSBC, said: ‘Many householders spend the Bank Holidays on DIY projects to help boost property value and saleability. However it is often the smaller jobs like painting the front door that can make all the difference when looking for a quick sale.'
Will they make a difference? Experts vs Homeowners:
Simple improvement | Expert's number one choice (%) | % of experts who think it would make a difference | % of homeowners who think it would make a difference
De-clutter home 60 93 71
Repair paint chips or wall paper 15 75 56
Cut grass and trim flower beds 7 71 66
Repair fences and gates 5 64 44
Replace old fashioned switches and electrical sockets 4 29 15
Repaint/varnish the front door 3 63 23
Clean windows in and out 2 44 69
Place rubbish bins out of sight 2 30 41
Wash the car if it's in driveway 1 4 17
New plants for garden or terrace 1 20 20
Buy fresh flowers for indoors 0 7 38
The HSBC Home Improvement Survey also revealed that the potential increase in property value as a result of home improvements has dipped in the past year.
The survey found that refitting or altering a home, although beneficial, may not provide the same level of financial return in today's market than may have been the case in previous years.