Renovations that decrease property values

October 26, 2017 by Brendan O'Neill

Advice & Tips

Most people make improvements to their home to increase its value. However, making certain changes to the property can actually devalue your home, and may put potential buyers off.

Conversions can be a risky business, especially if you lose a bedroom or the garage in the process. You may convert a room in your home into a gym, office, cinema room or something else which you deem to be essential. However, if you convert one of the bedrooms, you may lose some buyers who may prefer the extra bedroom. While a garage and extra bedrooms may not be necessary for everyone, you will exclude a specific demographic of buyers when converting a room.

Think carefully before you combine two rooms to make a larger one. This is often done with two small bedrooms to make one large room, or knocking down walls to make a separate kitchen and dining room into one large area. Extra rooms will generally add value to a property.

Decoration is essential for the upkeep of a property, but the use of bright, bold patterns or colour schemes can be off putting to a buyer. Neutral, light and airy colours create the illusion of space and help buyers to imagine how the house will look if they live there.

First time buyers find it extremely difficult to get onto the property ladder, and may have a strict budget in mind when buying a home. Having to put right any changes which have been made to a home can be costly, and will possibly be avoided. Mortgage advisors take CeMAP courses which enable them to help buyers look for the very best deals.