10 Home Improvements that Lower Property ValueNo Comments
If you put time, effort and money into a home improvement, you want it to actually add value. This isn’t always the case, there are plenty of mistakes to make when renovating your home. We’ve written previously about extensions that boost value, now it’s time to look at those to avoid. These are the 10 home improvements that lower property value.
10. Built-In Aquariums
A built-in aquarium can be a genuinely stylish addition to any home. It becomes a true statement piece and talking point. Unfortunately, it also requires a serious amount of maintenance. The upkeep of an aquarium is time consuming and costly. Many homebuyers will be put off the responsibility that comes with an aquarium. It’s also pretty difficult and expensive to remove.
9. Swimming Pools
Many people believe swimming pools add value to a home. This isn’t necessarily the case. Unless you live somewhere particularly sunny, swimming pools go unused for the majority of the year. In the time they’re unused, they become a burden. The effort and costs involved in maintenance can put-off many homebuyers.
8. Over-Personalised Interior Design
Your tastes are unique to you. That’s not an issue until the moment you come to sell your home. If you’ve invested in any quirky interior designs, it could become an obstacle when moving home. Bold colour schemes, unique tiling and over-the-top wallpaper can all dissuade potential homebuyers. If you’re considering selling in the near future, keep decor simple and adaptable.
7. In-Season Décor/Furniture
When flicking through the latest interior design catalogues, it can be tempting to follow all the latest trends. The issue is, your home isn’t clothing that can be discarded when it goes out of style. Makeovers are expensive. If you design your home in a contemporary ‘in-season’ style, it’s likely to look outdated in a year or so.
6. Large Trees
There’s no denying it, trees can add a special touch to any garden. Unfortunately, nature dictates that most large trees lose their leaves every Autumn. This can make gardens look very messy, it can also clog up guttering. Before planting any trees in your garden, consider the effect it could have on the valuation.
5. Removing Wardrobes
Some homeowners renovate purely to boost property value. This can be a clever approach though there are some common pitfalls to avoid. Removing wardrobe space to make room for an extra bathroom is often one of these. One of the most common items on a home-viewer’s checklist is the amount of wardrobe/storage space.
4. Landscape Garden Designs
Landscape gardening is an appealing addition to your home. It’s certainly aesthetically pleasing. However, it also requires a high level of maintenance. Not every homebuyer can commit to the responsibility. This can be seen as a doubt which ultimately reduces value. Our advice would be to ensure gardens are well groomed but simple and easily maintained.
3. Garage Conversions
A garage conversion can take many forms; from home gym to additional bedroom or even wine cellar. This may be a great use of space for your household but not necessarily for another. If you make any conversions to your garage, don’t make them personal. Off-street parking is a huge selling point for homes.
2. Bedroom Extensions / Home Office Conversions
It’s a simple fact; the number of bedrooms your property has, the more it’ll be worth. When renovating, some owners make the mistake of knocking down walls to double the size of a bedroom. This may make your current living situation a little more comfortable but it will have a negative effect on the house’s valuation. Even small bedrooms boost the amount your property is worth. If you’re converting a bedroom into an office, don’t make the switch permanent. An additional bedroom is worth more than an office.
1. Shoddy DIY
If you’re not an expert, give real and genuine consideration to the job you’re about to work on. A shoddy display of DIY from a have-a-go-hero could leave a huge dent in your home’s market value. Your poor craftsmanship could stand out like a sore thumb when prospective buyers come to view your property.
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