Five home improvements which could harm your home’s value
In previous articles we have looked at how you can give your home a makeover to get it ready for sale. We've discussed how decluttering and other improvements can help you achieve your asking price. How tidying up the garden and increasing the kerb appeal of your property can help convert interested viewers into buyers.
Adding value……Or not?
Large scale home improvements such as a loft conversion or new bedroom can add plenty of value to your home. But, are there any decorating and improvement projects which can have the opposite effect?
Could decorating your home prior to putting it on the market actually reduce its value, or at the very least, prevent you achieving your asking price?
Could your attempts to add value actually put people off from making a bid?
Surprisingly, they could. Here are our top five home ‘improvements’ to avoid if you are thinking of selling.
Really? What could be more harmless than wallpaper?
You're preparing your property for sale and decide to spruce up each room by papering. You don't skimp either, ignoring the bargain bin roll ends and opting for the top of the range stuff. But, this could be a big mistake.
Unfortunately, you are likely to get a far more positive reaction, and more chance of selling, by removing any existing wallpaper rather than adding more.
The issue here is that wallpaper is very subjective and most potential buyers prefer a blank canvas when they move into a new home. They will see your new wallpaper not as an asset but as an annoyance they will have to remove.
Believe it or not, for someone looking for a readymade home to move into, wallpaper could be a deal breaker.
Continuing the theme. Many of us like textured walls or ceilings, I certainly do, but unfortunately there are many more who don't.
Potential buyers may view your lovingly created textures like they would garish wallpaper, something they will need to get rid of and an unwelcome job they will have should they move in.
The golden rule here is to stick to plain walls and paint them a neutral colour. This allows viewers to picture the property as they would like it rather than trying to impose their vision over your decorating taste.
High end kitchen
This may be a little surprising. Don't get me wrong. Upgrading your kitchen, adding new appliances or simply hanging new doors on aging units will impress buyers.
But, going all out and installing a very high end kitchen will not add extra value. You will probably get your money back but, unlike an extension which will usually add around 10% to the value of the property, a high end kitchen isn't a good investment.
A home office
This isn't good news for those of us who work from home but an office can seriously affect the value of your property. Or, at least it will if you have converted a bedroom.
Most home offices are formerly bedrooms. The kids have moved out or you don't need an extra bedroom so you convert it into an office. Big mistake.
Anything which reduces the number of bedrooms in the house can knock around 10% off your home’s value. If you do have a home office, convert it back before you put the house on the market.
If you should happen to be thinking of converting a bedroom into an office, avoid built-in bookshelves and heavy desks so it will be easy to revert the space back into a bedroom should you decide to sell in the future.
Taking out cupboards to increase floor the area in a room is a common way of increasing space in older houses. However, this can backfire as home buyers want and need plenty of storage, the more the better.
Reducing the amount of storage in your home can have a negative impact on the value of the property.
Is your home ready to sell? Check out our no sell, no fee sales packages and make sure you get the very best price for your home.