If you plan on selling your home, you need to connect with buyers. You would think buyers examine homes closely, but a recent study indicates some of the most common problems buyers miss when viewing property.
Of course, now that this information is public knowledge, these are the problems buyers will focus on. Therefore, as a vendor, it is essential you minimise these problems and issues at your home.
At Frank Schippers, we aim to provide you with the best standard of support when selling your home. If you are keen to make an informed decision, we are on hand to provide you with all the help you need.
What are the problems buyers miss when viewing property?
A study carried out by comparethemarket.com finds 77% of British people have found a fault or faults with their property after they move in. The leading problems buyers miss, and then find when they move in, are as follows:
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Damp or mould – found by 24% of buyers
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Poor electrics – cited by 22% of buyers
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Poor plumbing – listed by 20% of buyers
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Cosmetic issues with walls/ceilings/internal fixings – named by 19% of buyers
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Poor or no central heating – cited by 18% of buyers
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Not enough or inconvenient plug sockets - an issue cited by17% of buyers
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Poor water pressure – a problem for 17% of buyers
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A lack of sunlight in the garden – an issue for 15% of buyers
These problems can be expensive to resolve. The average cost of resolving these problems is £4,936.37. However, 4% of respondents spent between £15,000 and £20,000 and a further 4% of respondents spent more than £20,000 repairing their home.
The study found 13% of respondents feel uncomfortable carrying out checks when viewing property.
There are some things buyers look for regularly
The most common inspections buyers undertake are as follows:
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Inspecting windows and window frames (31%)
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Asking how much utility/council tax bills are (31%)
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Opening and checking cupboards (31%)
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Checking walls for damp (30%)
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Asking about the neighbours (29%)
The least common checks are:
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Lifting rugs (22%)
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Moving furniture to check underneath it (19%)
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Videoing the viewing process (9%)
Checks first-time buyers are most likely to carry out, in comparison to established buyers, are as follows:
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Moving furniture to check underneath it (23%, established buyers 12%)
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Lifting rugs (28%, established buyers 13%)
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Flushing toilets (29%, established buyers 19%)
However, established buyers are more likely to carry out the following checks compared to first-time buyers:
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Ask how much utility and council tax bills are (36%, first-time buyers 27%)
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Check walls for damp (34%, first-time buyers 27%)
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Check walls for cracks or cosmetic defects (37%, first-time buyers 23%)
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inspect windows and window frames (30%, first-time buyers 21%)
This perhaps suggests established buyers look for issues that will cause greater problems later on, and review property in a deeper manner.
Mark Gordon is the head of mortgages at comparethemarket.com, and he said: “UK house prices are increasing substantially, and it’s a very competitive time for homeowners looking to sell their home, and for anyone looking to buy. We conducted this study to stress how important it is to undertake thorough checks on a house prior to purchase. It reveals the most common issues people miss when viewing a property, and how much Brits are spending rectifying these issues when they shouldn’t have to. We have also created a house viewing checklist that potential buyers can take to viewings to ensure they don’t miss anything important that will cost them later on.”
If you have any housing market questions or queries, please feel free to contact us. If you plan on selling your home, we recommend arranging a property valuation to ensure you make an informed decision. At Frank Schippers, we are here to support you in this trying time, and you can call us on 01344 777 888.
