The property characteristic that might knock greater than £5,000 off the worth of your house

Analysis by eXp UK, the community of private property brokers, has revealed that 87% of homebuyers would keep away from a property with a pond, whereas these trying to promote with a pond may see over £5,000 wiped off their asking value as a way to safe a purchaser.

Ponds could be a in style characteristic for a lot of householders, notably these with a love for nature and the Nice British pond has change into a standard characteristic in lots of gardens up and down the nation.

Nevertheless, in as we speak’s market they’ll act as extra of a deterrent to potential consumers and are thought to shave 1.8% off the potential asking value of a property. That will not appear so much, but it surely equates to £5,310 on the present common UK home value of £287,506.

A survey of UK homebuyers, commissioned by eXp UK, discovered that whereas 51% of these surveyed thought ponds had been a pretty outside characteristic, 87% would purposely keep away from shopping for a property with a pond as a characteristic.

Why? The first cause was the truth that a pond could be a hazard to babies, whereas the price of repairs additionally ranked excessive, adopted by the truth that a pond can entice pests equivalent to rats and mice.

What’s extra, 73% of these surveyed additionally acknowledged that they might supply under asking value on a house they in any other case appreciated, merely due to the problems raised by the presence of a pond.

Head of eXp UK, Adam Day stated, “If executed correctly, a pond will be a pretty addition to any backyard and it’s clear that most of the nation’s homebuyers nonetheless imagine that is the case. Nevertheless, as we speak they’re largely seen as a unfavourable property characteristic on account of the truth that they pose a really actual hazard to the protection of kids, whereas they can be costly to repairs, in addition to the opposite issues they carry equivalent to attracting rodents.

On condition that many consumers are dealing with greater borrowing prices and the upper ongoing value of residing at current, it stands to cause that they don’t need the extra burden of sustaining a pond and deterring rats and mice from their backyard.

Because of this ought to they arrive throughout an in any other case good residence with a pond, they might want to issue within the further value of eradicating as soon as they’ve bought the property. Because of this, on common, these trying to promote a property with the addition of a pond may should decrease their asking value by greater than £5,000 as a way to safe a purchaser.”