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Renovations that could devalue your home
Oct 2018
 

The term ‘home improvement,’ suggests that the changes you make to your property will be of both personal and financial benefit, however, that might not necessarily be the case. Read on to find out which renovation projects may actually devalue your home.

                       

 

Converting a bedroom

Losing a small bedroom in favour of a home office, more spacious master bedroom, or additional living space may seem like a good idea, but it can negatively impact the value of your house. Housing prices are set by comparable homes on the market, and the number of bedrooms is one of the primary factors estate agents use to compare two properties. When potential buyers are researching homes in the area, they usually filter their search by number of bedrooms, so losing a bedroom can result in fewer viewings. If you decide to use one of the bedrooms as an office or living space, avoid built-in shelving and bulky furniture so you can easily change the room back into a bedroom when you put your property on the market.

Redecorating with gaudy colours

If you have eccentric tastes, you may need to repaint your home before you put it on the market. Strong colours and busy wallpapers not only make rooms look smaller, they can also put off potential buyers who see a huge redecorating project rather than a home’s positive features. Textured walls and ceilings and quirky floor tiles may also discourage buyers because of the time and effort required to replace them.  A fresh coat of paint using neutral colours is the best way of staging your home so that viewers have a blank canvas from which to envision the home in their own style without any negative distractions.

Replacing the family bath

Exchanging a bathtub for the latest power shower with hydro-massage features and LED lighting may be a positive short-term improvement, but when it comes to selling your home the lack of a traditional family bath may be viewed in a negative light by some buyers. Families with young children, for example, prefer homes with at least one family bathroom.

Removing wardrobes

Taking out storage space in favour of a bigger bathroom or bedroom can make a property harder to sell. Many prospective buyers take careful note of how many wardrobes and cupboards are in each room and how much storage space they provide. If you need more living space, optimising the way your furniture is set up to make a room multi-functional is preferable to removing a wardrobe.

Adding swimming pools and hot tubs

Although many people like the idea of having a luxury status symbol such as a swimming pool or built-in hot tub, the practical reality is that they are expensive to maintain, rarely used, and a safety hazard for families with young children. Not only do they fail to recoup the cost of installation when you come to sell your property, they can incur additional expense because many buyers will insist on the seller filling in an in-ground pool as a condition of purchase.

Thinking of selling your property? With many years’ experience in residential agency across Cornwall, the team at Lillicrap Chilcott can ensure you get the best possible price for your home. Contact us today for more information.