Eight home features that reduce between £5,000 and £56,000 from the property value
EIGHT common features in and around the home can actually strip money of its value.
Halifax said home prices rose 0.4% and 1.7% year-on-year for the fifth month in a row in February.
The upturn may have you thinking about selling your property and cashing in.
But you should be wary of a number of features that can actually make your house less valuable, according to real estate agent Yopa.
Ponds, artificial grass and unused or old swimming pools can save up to 19.6% off the value of your home, it turns out.
An unused or old swimming pool could reduce the value of your home by £55,799, based on the average UK property price of £284,691.
Do you have brown, unpainted Pebbledash on your exterior walls? That could reduce the value by £28,469.
Meanwhile, poor parking options, or none at all, could reduce your potential asking price by £19,359.
Artificial grass, because there is no lawn and no bath in the main bathroom, could also cause the average home value in Britain to fall by £14,804, £6,100 and £5,694 respectively.
If you have a north-facing garden and pond, the value of a house can also drop by €5,525 and €5,258 respectively.
How to increase the value of your home
Some home improvements will inevitably increase your home’s value more than others.
Nick Leeming, chairman of estate agent Jackson-Stops, said buyers were increasingly looking for green energy measures in homes, such as electric vehicle charging points.
He added: “We could see buyers start to negotiate asking prices, prioritizing a home purchase that is future-proofed from day one.”
Meanwhile, data from property buying company Open Property Group recommends 12 improvements that will increase the overall value of your property the most.
Loft conversions, which cost around £40,000, could add £56,938 to the value of the average UK house price of £284,691.
A 20 square meter extension, costing around £48,000, could add £56,938.
Meanwhile, a garage conversion can add £28,469, with an estimated cost of just £15,000.
Here’s Open Property Group’s list of 12 home improvements, how much they cost and how much they will add to your home’s value:
- Attic conversion (cost £40,000) – added value of £56,938
- 20 square meter extension (cost £48,000) – added value of £56,938
- Garage conversion (€15,000 cost) – €28,469 added value
- Garden room/office (€10,000 costs) – €21,352 added value
- Kitchen upgrade (€10,550 cost) – €15,658 added value
- Utility room (€8,730 costs) – €14,235 added value
- Solar panels (cost £7,000) – added value of £11,388
- Complete redecoration (cost £3,200) – added value of £8,825
- Bathroom renovation (cost £5,000) – added value of £7,402
- Boiler/central heating upgrade (cost £3,850) – added value of £5,409
- EV charging point (cost £1,150) – added value of £4,840
- Landscaped garden (cost £3,950) – added value of £4,270
How else to increase the value of your home
Jonathan Rolande, from the National Association of Property Buyers, previously revealed to The Sun a quick tip to increase the value of your home when it comes to actually selling it: buying flowers and plants.
Doing this could increase your home’s value by thousands of dollars and create greater demand among buyers.
“It increases marketability,” he told The Sun. “You buy some nice plants, clean the rooms and the real estate agent’s photos look a lot better.
“This means more people shopping around, more competition, and more barter on price.”
Giving your home a new lick of paint will also increase its immediate value, says Chris Husson-Martin of real estate agent Hamptons.
Adding a few lights to your home can also add thousands to your home’s value, he told The Sun.
It’s worth also moving furniture that blocks the windows in your home to allow natural light in.
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