A property expert has revealed five renovations which can actually devalue a house.
According to Joshua Houston, a property expert at WhatCost, while homeowners may expect these renovations to boost the selling price of their property, there are a number of reasons why they could end up doing the opposite.
He listed the different upgrades before explaining why exactly they may not have the desired impact on a house.
1. Adding a swimming pool
A swimming pool is often considered a luxury addition to a home, offering a convenient way to take a refreshing dip.
However, according to Joshua, not everyone sees having a swimming pool at home that way.
For many, rather than being a desirable feature, a pool is seen as being too expensive to run and maintain.
In addition, Joshua said: ‘It can also only be used during the warmer days of the year, which in the UK isn’t many. This will put many buyers off as they might have to get rid of the pool if they choose to buy the property. The additional costs could devalue the property.’
People may renovate their home in an effort to boost the value – but some changes can actually reduce the price (stock image)
2. Converting the garage
While using the garage space for other uses, like a home office or garage, may seem like a great idea for some, not everyone agrees.
Some buyers will specifically be looking for a garage, as they want an off road space for parking, or a significant amount of storage space.
3. Built-in electronics
Built-in electronics may save space as well as looking slick, but they are not everyone’s cup of tea.
‘Certain electronics might be seen as a waste of space and running costs by potential buyers, and the process of removing them is much harder than non-built-in electronics,’ said Joshua. This results in extra costs, which could easily devalue your home.’
Property expert Joshua Houston said features that appeal to some will not be attractive to others, and this is something to bear in mind when selling a house (stock image)
4. Brightly-coloured home front
A vibrant home front can be aesthetically pleasing and give a home a unique look.
But, like everything else on Joshua’s list, there can be caveats to this – notably what the surrounding houses and area look like.
He explained: ‘If your home sticks out too much in a sea of darker and more traditional colours, then this could be a problem.
‘You’ll have to find a buyer who likes brighter-coloured properties, and this tends to be rare, which devalues the home.
‘Alternatively, a new buyer will have to pay to paint over, costing them more money, which will come out of the buying price.’
5. Removing a bedroom
While desirable to some, for others, having a swimming pool at home will just been seen as an unnecessary expense (stock image)
It can be tempting to transform a bedroom into something else – but homeowners would generally be ill advised to do so, according to the expert. This is because the more bedrooms a home has, the more expensive it generally is.
‘We all take pride in our homes, but we also want to know that the money we’re putting into improving our property is worthwhile,’ Joshua explained.
He added that the features that appeal to some will not be attractive to others, and this is something to bear in mind when selling a house.
Joshua concluded: ‘Having a desired property increases its value, so do everything in your power to get as much money as possible. Taking the above advice into account could end up saving you a lot of money.’