The top six things that are likely to devalue your home, according to new research
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Swimming pools and solar panels are among the most undesirable property features, new research has found
Moving house is an exciting time, and the first step is getting your property valued. However, there are several things which homeowners are sometimes surprised to hear have devalued their home, rather than made it more desirable.
NAEA Propertymark, an organisation providing advice for people wanting to buy, sell and rent their treasured home conducted some research to find out what is most likely to devalue a property, in order to help people maximize the value of their home.
Katie Griffin, Propertymark President, said: “The house-moving process is undoubtedly stressful, so it’s important to know what adds value to your home and what might detract or put off potential buyers. Sometimes the improvements you have made might not appeal to buyers, so even though you’ve spent money on them, they might not necessarily add any value.”
1. Installing solar panels
While solar panels may save you money on energy bills in the short-term, and they’re environmentally friendly, they might not actually add any value to your home. The problem with technology is that it ages quickly, and it can be expensive to upgrade. The same applies to built-in kitchen appliances, which are great to start with, but within five years are out of date. Solar panels can also appear as unsightly and unattractive, and those more concerned with aesthetics than the environment don’t usually want them stuck on the side of their roof.
2. Over personalisation
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Of course when it comes to decorating your house, you should design it to suit your personal taste. However, if your taste is particularly colourful or bold, it’s might be worth re-decorating before you start to market your home. Typically, modestly decorated homes are most desirable, as homeowners can easily see how their own belongings would fit into the space, and how they could make it their home.
3. Swimming pools
Although great fun for a weekend or two in the summer, swimming pools in Britain aren’t usually considered an attractive house feature. They’re expensive to maintain, use up a lot of space, and the great British weather means you can’t actually use them very often – often making them a lot more fuss than they’re worth.
4. Planning permission and building regulations
If you have had any works carried out while you’ve been living in the property, such as extensions or conversions, make sure you obtained appropriate planning permission and building regulations, and have access to these documents.
5. Darkened rooms
If you have two identical properties, and one is bright and airy while the other is dark and dingy, nine times out of the ten, the brighter one will be worth more, because it’s more desirable. Foliage around windows, and large trees should be cut back before marketing your property to give the impression of a light and spacious home.
6. Japanese Knotweed
The infamous weed, Japanese Knotweed, is more common than you think – and it can damage the foundations of your home and significantly devalue it if it’s at risk of subsidence as a result. If you think you can see any in your garden, call a professional to excavate is as soon as possible.