Help or Hindrance? Three Surprising Influences on your House Price
Monday, 22 September 2014
Recent statistics show that property prices are continuing to rise across the country. However, with experts increasingly predicting a shift towards a buyers' market, we think these three factors that can reportedly have a significant effect on the price of your home may surprise you.
1. Slow broadband
In a connected society, fast internet access matters. But did you know that poor broadband speeds can actually slow down your house sale too? According to The Daily Express, estate agents are reporting that connectivity is a major concern for buyers, regardless of how much they actually use the web.
In fact, House Simple Managing Director Alexander Gosling told the paper that, “A known broadband slow spot could knock 20 to 25 per cent off the price of a property”, while Carol Peett of The County Homesearch Company said that, “The inability to access broadband has rendered some properties virtually unsaleable over the last couple of years."
2. Solar panels
Not everybody appreciates you going green, particularly if it involves 'hideous' panels on your roof, says agent Richard Greener. And while many may value the energy that solar panels add to a property, if that energy comes at the cost of leasing the roof out to an energy provider for 25 years, then many buyers are instantly turned off.
The weight of solar panels means they can also cause structural issues, meaning you'll need to inform your home insurance provider to ensure you're covered against any future complications.
3. Rooftop gardens
Environmental enthusiasts will be pleased to hear that there are green initiatives that are viewed much more favourably by buyers, and sitting suitably atop the pile is the rooftop garden.
James Wong of the Great British Garden Revival said recently that we should look upwards for inspiration, and he may be right. Pierre Wilter of Urban Roof Gardens says that, in his experience, the innovative green spaces can add up to 20% to property values. And they're also great insulators too, meaning green-fingered roof gardeners will also benefit from savings on their heating bills.