A lot of things factor into how much a property is worth. Things such as the decor, square footage and the number of bedrooms and bathrooms.
As a homeowner who is selling up, their job is to consider both what they can do to improve their home’s value, as well as what they may already be doing to decrease the value and desirability of their property.
Property experts at SDL Property Auctions have urged households to keep in mind that some “popular home improvements” do actually cause “more hindrance, and actually devalue your home”.
Covering up original features
Generally, homebuyers love seeing a property’s original features and character, so removing these or covering them up could be a “huge mistake that will cost you more in the long run”, and potentially “devalue your home”.
“This is especially something to be mindful of for those looking at a property at auction, as many of the properties we sell have fantastic renovation potential.”
The experts said: “If you’re on the lookout for a fixer-upper, or are just thinking of sprucing your home up, be wary of removing things like fireplaces and archways.”
Removing a bath
For many, having a bath is actually a luxury, and often it’s something homebuyers look for when viewing properties.
Removing this to create either a wet room or simply a standing shower only “could put off a lot of prospective buyers”. Not only this, but there’s the accessibility factor to consider too.
Removing a bedroom
Creating a walk-in wardrobe or another unique space in the house may sound super tempting, and whilst these things would “add value” when created as an addition to the existing home, removing a bedroom to turn it into one of these spaces is “typically a no-no”.
The experts explained: “By removing sought-after space like this, you could actually devalue your home and put off any prospective buyers.”
They might sound like something that could add tonnes of value to a property, but in fact, loft conversions can’t be considered as an extra bedroom. It’s more like the space that was already existing has now been utilised.
Whilst there is a potential for a well-thought-out, well-built loft conversion to increase your home’s value slightly, they’re known to be “very expensive”, so the time, money and effort “may not amount to any significant value long-term”.
It goes without saying, but really any improvement households add to their home that isn’t executed correctly will ultimately “devalue the property”.
The property pros said: “Badly thought-out conservatories, poorly executed extensions and even things like windows and doors; if they’re not done right, they will cost you more in the long run.”
Decorating too boldly
In terms of “home improvements”, decorating is something that is less permanent, so theoretically shouldn’t cause too much of an issue.
However, it’s known that properties that are decorated extremely boldly or in a unique style may “discourage prospective buyers” due to the difficulty of imagining their own style in the property.
Not only this, but the amount of work a new owner would have to put in to re-decorate if the taste is really not to their style “may put them off too”.