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Do you like the aromas of citrus, bread or even chocolate brownies? Well for people selling their homes over this festive period take note, you could be in luck; it could make ‘scents’ and you’ll be quids in possibly!
Forget about mulled wine fragrances, painting the walls, clearing out the shabby shed or grim garage, or even doing the garden up; a new study has revealed how certain smells and aromas affect the value of a house, and the results are interesting!
A test by realestate.com.au found that the smell of citrus in a property, increased the perceived value of a home by over $100,000 in the eyes of potential buyers. 44 potential purchasers of homes were divided into two groups, and each couple inspected the same house which had been infused with freshly-baked brownies, bread, freshly brewed coffee, citrus or smelly socks. Both groups were then asked to predict the value of the home having been provided with prices as a guide by the agent.
An Australian Masterchef judge and chef, Gary Mehigan, cooked the food and the citrus notes were prepared by Dr. Megan Thornton, a lecturer in food science at Deakin University.
Mehigan described how he chose to bake the scents that evoke ‘good memories’ for most people, such as the smell of fresh bread and chocolate;
“What’s lovely about baking a cake or some bread in the house, is what it does; it reminds you of all the fond memories you’ve had in that house and hopefully it reminds the buyer that they’re not buying a house, they’re buying a home,” he says.
In Mehigan’s opinion, certain smells would only be appealing at certain times of the day, such as waking up to the aromas of coffee in the morning. Even the smell of roast chicken was tested in the experiment.
The citrus smell proved to be a winning aroma; in the the suburban house, the citrus fragrance provided a $850,250 valuation compared to the valuation of $749,500 when the same house was exposed to roast chicken. The exposure of a smelly sock reduced the house price valuation to it’s lowest, coming in at $743,750… so what has your mother always said about a clean pair of socks?!
The Realestate.com.au survey data found that 45% of respondents hadn’t used a scent to entice buyers when their home was on the market (so, with these house price differences, maybe they should?). The survey also found that of the 1025 people sampled, 27.6% would use baked bread before an inspection and just 17.5% used citrus.
Dr. Thornton said she chose the citrus based on research that found it popular with shoppers in a retail environment, as well as the home;
“While a few years ago it was popular to be baking cookies or doing a big Sunday roast with all the trimmings which smells amazing, the research is starting to show that it’s the more simple, subtle scents that are more important.”
Generally, the results suggest that a subtle citrus smell is a better match for a brand new home – baking would suit an older, more traditional home. It’s all about matching the right smell to the right environment. First impressions count, more than ever in buying and selling homes, and scent plays a big part in forming that first impression.
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