6 ‘expensive’ home improvements that ‘decrease’ house value and ‘deter buyers’
Martin Roberts gives advice on adding value to properties
The property market in the UK has never been so turbulent. With this in mind, Britons are investing in their homes in a mission to boost kerb appeal and secure the best possible deal when it’s time to sell.
However, experts are warning about the “expensive mistakes” they could be making when it comes to home improvement projects.
To help households, property development experts at Essential Living, have weighed in with “expensive” home improvement projects that “don’t add any value”, and instead, could actually “devalue the property”.
1. Fitting expensive wallpaper
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 the success of this all comes down to taste.
People are now experts at viewing a property and making note of all the redecoration ideas they have, so splashing out on new wallpaper “may be a wasted effort”.
READ MORE: Estate agent shares ‘deal-breakers’ when buying a home to be aware of
2. Installing a new kitchen
For most people, the kitchen is the heart of the home, but fitting a brand-spanking new kitchen isn’t necessarily a sensible financial decision.
First, know that the homeowner may not actually like the new design being chosen – especially if it involves bold colours or a trending style. Instead, the experts warned: “They may take one look and plan to redo it all over again as soon as they move in.”
Rather than installing a new kitchen, it’s “a lot safer and cheaper” to refresh the space with a lick of paint.
Also, when it comes to fitting high-end appliances in the kitchen, they can “cost double the amount” of average appliances with a similar purpose.
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3. Built-in electronics
Personalisation is likely to “deter would-be renters or home-buyers”. It’s easy to be persuaded by the idea of a built-in sound system or home cinema, but the reality is, most people will prioritise the more functional aspects of the property first.
The property pros revealed that with home cinemas, the average cost of installing one is priced at £27,500 and adds only £2,000 onto the overall value of the property, which is a “significant loss”.
4. Getting rid of the bath
A common bathroom “mistake” is removing the bath. While it is more expensive to run a bath versus a shower and shower-only bathrooms make sense in terms of utilising the space, not having the option of a bath “can put people off the property altogether”.
5. Transforming a bedroom into a wardrobe
Removing bedrooms is “never a smart decision” as people are more likely to appreciate a spare room or another space to utilise for an office instead of the perks of a walk-in wardrobe.
While a walk-in wardrobe is an incredible feature to have if there’s space for it, the experts claimed that this should “never” be done at the expense of an additional bedroom.
6. Covering up the property’s original character
Covering up or replacing the original character of a property in an attempt to create a more modern look can often “decrease its value”.
Instead, investing money to maintain or restore the original characteristics of the home is more likely to attract interest.
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