I’m a home expert – the DIY jobs we all do that actually DON’T add value to your property
DIY is a lot of hard work and can be costly – so of course you really want all your effort to pay off by increasing the price of your property.
However, you need to be selective about which tasks and tweaks are worthwhile, as not all of them are guaranteed to boost your home’s value.
Here, Nick Woodward, Lettings Director at Essential Living, shares the common home improvements people do, that actually don’t necessarily add value…
He says: “Any home improvement project needs to be planned and considered very carefully.
“It’s far too easy to make the mistake of assuming that more money spent must equate to a higher profit in the long-run, but unfortunately, this isn’t always the case.
“In fact, some home improvement projects add no value at all, and others can even reduce the overall value of the property.
“To guarantee no money is wasted, here are six home improvements to avoid at all costs.”
Installing a brand new kitchen
A brand new kitchen is nice – but if you are thinking about moving anytime soon, it might not be worth the investment.
Nick says: “For many 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 next tenant or homeowner may not actually like the new design you choose – especially if it involves bold colours or a trending style.
“Otherwise, they may have plans to redo it all over again once they move in. Instead, have a bit of a refresh 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.”
Covering original features
A big selling point with period properties are the original features.
Nick says: “Covering up or replacing the original character of the property with cheaper materials to achieve a more modern look, can often decrease its value.
“Instead, investing money to maintain or uplift the original characteristics of the home is likely to bring in more interest.”
A home cinema system may be to your taste, but it’s not for everyone.
Nick says: “Personalisation is more 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, people will prioritise other parts of the property first.
“With home cinemas, the average cost of installing one is priced at £27,500 and can add only £2,000 onto the overall value of the property, which is a significant loss.”
Transforming a bedroom into a wardrobe
Having a walk-in wardrobe is a nice touch, but not at the expense of a bedroom.
Nick says: “Removing bedrooms is never a smart decision.
“In fact, 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.
“Yes, a walk-in wardrobe is an incredible feature to have if there’s space for it, but not at the expense of an additional bedroom. ”
If you want to give your property a refresh, a lick of paint can be a good option, rather than expensive wallpaper.
Nick says: “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.”
Removing the bath
Nick says: “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 has the potential to put people off the property altogether.
“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, electric and water services, are most likely to boost its value.
“Cosmetic tweaks are less likely to have the same effect.”