Whether you’re a first time buyer or have been on the property ladder for a while, you might be tempted to try some DIY. Those social media before and after accounts (you know the ones), certainly have us itching to test our home renovation skills.
But have you ever thought about how altering certain things in your home could actually be devaluing your property? Those home improvements don’t seem so improving now.
Whether you’re wanting more space, looking to sell your property or are simply eyeing up your neighbour’s home upgrades, property expert Gregory Smith, from tradesman site Price Your Job, shares the renovations that could cost you more than anticipated in the long run.
1. Hobby rooms
Home gyms and cinema rooms are great ideas for all you homebodies, but if you’re looking to sell then these personal luxuries could be hindering the promotion of your home on the market. Houses that sell faster are far more bland, says Smith, as people can imagine themselves living in spaces that are not too personalised.
2. Textured walls and ceilings
The textured trend may have been the perfect way to hide any imperfections on walls or ceilings, however we’re keeping it smoother in 2021. Most potential buyers become wary of purchasing a property with textured walls or ceilings, says Smith, as they may suspect damage. Instead of losing a sale, focus on repairing the damage to maintain your property’s value.
3. Bi-fold doors
This may be a great way to maximise the natural light coming in from your garden, however if the bi-fold doors are poor quality or not fitted correctly you can risk devaluing the cost of your home. They can be easy to break and the replacement parts to fix bi-fold doors can be hard to track down, making them more impractical than other attractive renovation options.
4. Bold paint colours
Calling all colour-obsessed, self-proclaimed interior designers! We all love a splash of colour here and there, but a bad colour choice can instantly make a large room look smaller and unattractive to potential buyers. Darker colours will take more primer to cover up, says Smith, making it more expensive for new buyers. Instead, opt for more neutral colours that are likely to match everyone’s taste.
5. Kitchen pantries
Well-designed pantries can be a homeowner’s dream, but many are often dark and filled with clutter, making it an unattractive location. Unless your kitchen pantry has a door, is walk-in, and has lots of shelf space, Smith says you should steer clear of this renovation.
6. Statement tiles
Many unleash their creative energy through quirky, statement tiles, but for some they might be a bit too much. For new buyers, this will be incredibly expensive to remove, resulting in more chances of cracking and creating an outdated look. If you really love tiles, keep it consistent throughout the house and stick to neutral colours and simple patterns, says Smith. Avoid tiling living areas and bedrooms for a better aesthetic.
7. Removing the bath
Striving for more space? Getting rid of the bathtub is never the answer. Bathtubs are considered essential for many families, especially those with children or pets. Even if you get the same price for the property, once removing the bathtub, it could still take longer to sell. We all know the longer your house is on the market, the more potential buyers can haggle over the price.
So what can we do to add value to our homes?
Not all renovations are to be feared. Separate research from insurance company Royal London shows how much more buyers would be willing to offer on their next home if certain upgrades were completed.
A modern kitchen and bathroom are top of buyers’ wish lists – with over 40% of Brits investing in these improvements within the first two years of owning their properties. A modern kitchen could add £11,159 to your property price, while a bathroom can add £10,910, according to the findings.
Loft conversions and spare bedrooms are also desirable, and could add more than £10,000 to your home’s value each.
But it’s not all about big projects. A new boiler and modern windows will ensure your house is perfectly prepped for the colder months – and also add value. They may not be as exciting, but if you’re renovating to resell, they shouldn’t be overlooked.