‘Wasted effort’: ‘Very tempting’ home improvements could devalue your home warns expert
Property renovations carry the risk of devaluing your home
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Many projects around the home are undertaken to add value to a property, but without careful consideration, they may do the opposite.
Obtaining consent to materialise projects can prove a big waste of time. It may also cover up areas of the home that were integral to the character of your home.
Nick Woodward, lettings director at property developments experts, Essential Living, commented on home improvements that won’t add value.
“Any home improvement project needs to be planned and considered very carefully,” explained the expert.
Get ahead of the market by investing money in the right places
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“Some home improvement projects add no value at all, and others can even reduce the overall value of the property.”
The expert explained that covering up a home’s architectural style is an all-too-common mistake with homeowners.
“Covering up or replacing the original character of the property with cheaper materials to achieve a more modern look, can often decrease its value,” explained Woodward.
“Instead, investing money to maintain or uplift the original characteristics of the home is like to bring in more interest.”
Having expensive wallpaper fitted is a prime example of concealing valuable characteristics in your dwelling.
Woodward explained: “Wallpaper can vary significantly in price depending on style and design.
“Hanging up some new wallpaper can be very tempting as a quick fix to spruce up a room, but similar to fitting a new kitchen, the success of this all comes down to taste.
“People are now experts at viewing a property and making a note of all the redecoration ideas they have, so splashing out on brand new wallpaper may be a wasted effort.
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Seemingly beneficial improvements around the home can prove a total waste of money
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To get ahead of the market, Woodward instead recommends focusing on “minor” repairs that could lessen the burden on prospective buyers.
“As a general rule to follow when it comes to home improvements and repairs, investing in the basic foundations of the home, like heating systems, the roof, and electric and water services, is most likely to boost its value.
“Cosmetic tweaks are less likely to have the same effect,” added the expert.
Other mistakes, like neglecting the exterior of a property, could leave potential buyers questioning the state of a home before stepping foot in it.