New research from Barclays Mortgages reveals that the majority of house-hunters take just ten seconds to decide whether they like a property from the outside, as one in six Brits admit to snap decision making.
A property’s ‘kerb appeal’ is determined by how it looks on first glance which effects a homebuyer’s opinion before they enter a property.
Over a third (35 per cent) of property buyers make their decisions purely on a home’s exterior and won’t even venture inside if they’re unimpressed.
This comes as over half (53 per cent) admit they would buy a property that looked appealing on the outside, even if the interior needed extensive redecoration.
Almost half (44 per cent) of homebuyers would take up to 20 per cent off a property’s asking price if an exterior was not appealing, with homes in London losing as much as £107,400 in re-sell value.
On average the UK loses £57,600 on each home sold because of an unkempt exterior, leaving buyers with far more bargaining power and sellers out of pocket.
In Yorkshire the lost value figure is £36,800.
New builds have been named the nation’s favourite property type with over a third (36 per cent) of people choosing this property style as their preference. Other popular choices include Victorian houses (29 per cent) and Georgian houses (27 per cent). As a nation, we’ve fallen out of love with uninspiring 80s homes and Mock Tudor properties with just eight per cent and nine per cent of home seekers choosing these options.
A well-manicured garden, double glazing, a parking space, appealing looking neighbours’ houses and neighbours having well manicured gardens are the top five desirable kerb appeal features in West Yorkshire, with the most undesirable being vermin control outside the property, an unkempt front garden, near noisy communal buildings, close to fast food outlets and with busy transport links close by.
Property expert and Homes under the Hammer TV presenter, Lucy Alexander said: “When searching for a property, the first thing you see is the front garden and any outside space.
“In such a competitive market, achieving the best possible kerb appeal will not only be pleasing to the eye but also to the bank balance.”
Craig Calder, Director of Barclays Mortgages said “We know that one of the big questions that arise amongst homeowners is how can we improve the value of our existing property? It’s fascinating to see the importance that the exterior of our homes can have.
“We would encourage all homeowners to think about their own property’s kerb appeal and understand that getting the small details right can be one solution that can really boost the financial value of your home.”
For more information visit www.barclays.co.uk/mortgages