There’s no doubt that autumn is now in full swing, and as we gear up ready for the endless Christmas decorations that are about to deck-out our homes, we know the new year is on the horizon.
When the decorations are all back down, and the house looks more bare than ever, you may be thinking about venturing into some home improvements or renovations to help your home get its spark back.
Before you do, however, you should keep in mind that some popular home improvements do actually cause more hindrance, and actually devalue your home. SDL Property Auctions discusses more below…
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 if you’re looking at a property at auction, as many of the properties we sell have fantastic renovation potential. So, 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 bedroom
Creating a walk-in wardrobe or another unique space in your 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! By removing sought-after space like this, you could actually devalue your home and put off any prospective buyers!
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.
Loft conversions
They might sound like something that could add tonnes of value to your 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.
Decorating too boldly
In terms of “home improvements”, decorating is something that is of course 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 your 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.
Poor workmanship
It kind of goes without saying, but really any improvement you add to your home that isn’t executed correctly will ultimately devalue the property. 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!
On the contrary, to add significant value to your property, you could look at planning things such as a well-thought out, professionally built, double-storey extension. Something like this could easily add 10% to your home’s value. Going further, and maybe most easily done for most people; a well-presented garden can even top the extension, and get you more than 10% added to your property’s value.
It’s worth noting that for an auction sale, we actually recommend sellers do nothing to their house because buyers are often looking for a project, so leaving it in exactly the same state would be the best option. Spending excess time and money on a property you’re wanting to auction may mean you don’t get that money back in the sale price.
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