Eight home features knocking between £5k and £56k off the property value – what to do instead
EIGHT common features around the home could actually be knocking money off its value.
Halifax said house prices rose for a fifth consecutive month in February by 0.4% and 1.7% year-on-year.
The uptick might have you thinking of selling on your property and cashing in.
But you should be wary of a number of features that could actually make your home worth less, according to estate agent Yopa.
Ponds, artificial grass and unused or old swimming pools can knock up to 19.6% off the value of your home it turns out.
An unused or old swimming pool could slash your home’s worth by £55,799, based on the average UK property price of £284,691.
Got brown, unpainted Pebbledash on your external walls? That could be reducing the value by £28,469.
Meanwhile, poor parking options, or none at all, can slash your potential asking price by £19,359.
Artificial grass, having no lawn and no bath in the main bathroom can also see the average UK home value drop by £14,804, £6,100 and £5,694 respectively.
Having a north facing garden and pond can also see a home’s value fall by £5,525 and £5,258 respectively.
How to boost the value of your home
Some home improvements will inevitably boost the value of your home 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 might see buyers start to negotiate on asking prices, prioritising a home purchase that is future-proofed from day one.”
Meanwhile, data from property buying company Open Property Group recommends 12 improvements that will boost the overall value of your property the most.
Loft conversions, costing around £40,000, can add £56,938 to the value of the average UK house price of £284,691.
A 20square foot extension, costing around £48,000, can add £56,938.
Meanwhile, a garage conversion can add £28,469 while only costing an estimated £15,000.
This is Open Property Group’s list of 12 home improvements, how much they cost and how much they’ll add to the value of your home:
- Loft conversion (£40,000 cost) – £56,938 added value
- 20square foot extension (£48,000 cost) – £56,938 added value
- Garage conversion (£15,000 cost) – £28,469 added value
- Garden room/office (£10,000 cost) – £21,352 added value
- Kitchen upgrade (£10,550 cost) – £15,658 added value
- Utility room (£8,730 cost) – £14,235 added value
- Solar panels (£7,000 cost) – £11,388 added value
- All over redecoration (£3,200 cost) – £8,825 added value
- Bathroom renovation (£5,000 cost) – £7,402 added value
- Boiler/central heating upgrade (£3,850 cost) – £5,409 added value
- EV charging point (£1,150 cost) – £4,840 added value
- Landscaped garden (£3,950 cost) – £4,270 added value
How else to boost the value of your home
Jonathan Rolande, from the National Association of Property Buyers, previously revealed to The Sun one quick tip to boost the value of your home when it comes to actually selling up – buying flowers and plants.
Doing this can increase the value of your home by thousands of pounds and create a greater demand among buyers.
“It increases the saleability,” he told The Sun. “You buy some nice plants, clean the rooms and the estate agent photos will look a lot better.
“This means you get more people looking around, more competition, and you can barter the price more.”
Giving your home a fresh lick of paint will boost its immediate value too, according to Chris Husson-Martin from Hamptons estate agent.
Adding a few lights to your home can add thousands to the value of your home as well, he told The Sun.
It’s worth moving any furniture that’s blocking windows around the house as well, to let any natural light in.
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