With the excessive extension of Brexit plans and an unprecedented turn of events in 2020, selling a house has been a troubling and risky challenge for the better part of three years. The more recent events being the cause for house sales to plummet entirely.
However, despite the UK entering recession for the first time in eleven years and job security being a concern for many, this doesn’t seem to have deterred homeowners from putting their properties on the market. Unsurprising when we review how quickly houses are being snatched up, supported by online retail estate portal Rightmove report “the highest number of home sales agreed [between mid-July and early August” and British online newspaper The Independent claiming that “Britons fill the holiday void by moving house”.
Therefore, it appears as though it is the perfect time to put your house up for sale if you’ve been considering it for some time now. Naturally so, you may wish to make some changes or renovations to improve your chances of selling the home quickly.
With this being the case for many homeowners, home furnishings retailer ScS have partnered up with various estate agents to reveal a list of DIY developments that could, in fact, reduce your home’s value by £46,000.
So, which DIY changes may you want to reconsider?
- Installing elaborate garden features could take up to 7% off the property value
What may seem a luxury and winning feature at first, could actually be a deterrent for buyers viewing the property. Although features such as swimming pools and ponds can offer a bountiful amount of fun and do wonders for mindfulness, this is subjective from person to person.
For many, these features demand a high level of maintenance and can be expensive to run. Whilst a nice idea, in hindsight these installations could see your house price drop by £16,000.
- Garage conversion could also take off up to 7% of your property value
Now, this may be a revelation for many, with garage conversions often being a natural step towards creating more indoor space for your property, or an affordable way to add a home gym or office.
But, Residential Partner of Bramleys Estate Agents Paul Keighley, states that “in reality you are removing parking and storage space, which we have found is always high on a buyer’s checklist.” If this is the case, choosing to convert your garage space could cost you £16,000.
If you’re looking to expand your home without compromising the parking and storage space you already have, albeit an expensive option, but investing in an extension on top of the garage guarantees the best of both worlds.
- Building an extension without planning permission could cost up to 15% off your property value
Choosing to go ahead with an extension or building development without planning permission may not be illegal, but is more a gamble on your behalf. Should your extension receive complaints or is disapproved by the local council, without planning permission, you could be asked to knock the whole thing down.
When viewing a property, potential buyers will need to be made aware of this and it could cost you a definite sale, especially with the knowledge that local authorities maintain the right to serve enforcement notices against property owners, even those who didn’t carry out the development.
A situation such as this could take up to £35,000 off your property’s value.
- Adding certain plants to your garden can take off up to 15% as well
Over the last few months, some of the main hobbies have included baking, crafts and gardening. And so
, it comes as a surprise to hear that some plants are actually a turn off for buyer’s and can cost up to £35,000.
That being the case, which plants should we steer clear of?
It looks to be that particular trees should be considered carefully before purchase. Whilst the trunk and leaves may look reasonable on top, it’s the roots underground that can cause problems, requiring a considerable amount of space to grow that can lift drains and driveways and damage the foundations of your house. Head of Content at webuyanyhouse.co.uk Holly Herbet states that Japanese Knotweed is the worst plant to have in your garden.
- Reducing the number of bedrooms can knock off up to 20% of your property value
Nine times out of ten, buyers will firstly filter their search by the number of bedrooms they require, with the majority hoping to purchase a house with anywhere between 2 or 4 bedrooms.
Therefore, converting what was once two bedrooms into one large bedroom or converting a bedroom into a bathroom may be convenient for you now, but may have consequences when trying to acquire viewings for your property.
We’re sure those of you considering a renovation before selling your house will be thankful for this insight from ScS and the contributing estate agents, potentially saving yourselves up to £46,000 in losses.
Nevertheless, some DIY developments will also work to add value to your home and whilst the UK are having a mini-boom in house sales, now is the time to seize your opportunity to sell at the best price. To know which improvements will increase the value of your home, check out our latest blog post: https://parkersskips.com/moving-house-whilst-the-stamp-duty-is-reduced/
Should you choose to embark on a DIY project of your own, PSH Environmental provides an affordable and flexible skip hire to remove your waste efficiently and dispose of it in an environmentally friendly way. To book yours today, call us on 01603 721533 or book via our online booking forms.