Nationwide Finds DIY Could Help House Sales

Britons could be rushing to get themselves a home improvement loan following the latest tips from Nationwide about the best ways to sell your home, which reflected the need to have any outstanding do-it-yourself (DIY) work done and dusted.

A study commissioned by the building society into what buyers look for when they consider buying a property has created plenty of food for thought for those looking to sell their house, something that could encourage a number of those with their house on the market to look for the best home improvement loans to fund the work.

Commenting on the survey, Katie Harper, Nationwide media relations manager, said: “Higher interest rates and the resulting reduction in new buyers visiting estate agents continue to put further pressure on homeowners who are looking to sell. While there is no evidence to suggest that these top tips would command a higher price, sellers might find they come in useful when they do manage to encourage potential buyers to view their property.”

Tackling DIY disasters is an important factor, according to the building society. This top tip comes from the fact that 90 per cent of potential homebuyers thought that poor building work or bad DIY was a “big turn off”, according to Nationwide.

A big lure for potential buyers is how green a house is, with 82 per cent of respondents to the survey suggesting that environmental factors such as solar panels make a house more appealing. This was a larger number than those that found an attic room, period features or walk-in wardrobes important, a persuader for 68 per cent, 63 per cent and 62 per cent respectively. Again, some of these measures are food and drink for Britain’s DIY fans.

Away from the house itself, a home improvement loan could be used in part to fix up the garden and put up a fence, whether of panels or poplars. Some 80 per cent of respondents to Nationwide’s survey stated that they would think twice about putting an offer in on a property where privacy was not provided for in the garden.

The kitchen was seen as the most important room in the house by more than half of those involved in Nationwide’s survey, with 54 per cent seeing the room as the most influential as to whether they would put in an offer. A home improvement loan could provide the funds for a new kitchen suite.

Nationwide has said that the time of year people look to sell their property is also important, with potential sellers being warned to stay away from “the summer drought” as well as November and December, when the distraction of Christmas is all too near.

In June a study by Halifax revealed that 58 per cent of consumers have carried out home improvements in the last 12 months, many with the intention of adding value to their homes. About a quarter of those surveyed by Halifax hoped to add as much as 5,000 pounds to the value of their home.