Across the country, people have been dedicating more time to DIY than ever, with the coronavirus lockdown forcing people to undertake the projects they have been putting off for far too long.
But there are a few DIY decisions that could come back to haunt homeowners, even if they feel like a good idea at the time.
Top of the list, according to a study undertaken by sofa firm ScS, is converting a bedroom. With buyers regularly searching for new homes based on the number of rooms they have, reducing the number also reduces the fee you are able to ask for when selling up. And this could cost you to the tune of £46,000.
Holly Herbert, head of content at webuyanyhouse.co.uk, revealed that it could slash up to 20% off a property’s value which, with the average UK house currently commanding £232,000, could prove as costly as £46,000.
As if that wasn’t bad enough, the plants you may decide to grow in your garden could end up being a £35,000 disaster, with Paul Keighley, Residential Partner at Bramleys Estate Agents, revealing, “Always take advice about tree planting. While certain species have a small root base, others can stretch further than the height of the tree.
“These roots can crack drains, break driveways and ultimately affect the foundations of the house and become a costly fix.”
Elsewhere, building an extension without the proper planning permission can also see a whopping £35,000 disappear from your property’s value, as they may have to be torn down, meaning the homeowner could sacrifice 15% of their house’s asking price.
Similarly to converting a bedroom, turning a garage into a different space can be a costly decision, although not quite as costly as losing out on a bedroom. Yet, at potentially £15,000 loss, you’re probably better off keeping your car’s home as it is and let the next owners decide what they want to do with it.
Finally, that lavish garden feature you were hoping to introduce? A swimming pool perhaps? Maybe a sunken hot tub? Yes they may feel like the most fun addition possible at the time you commit to them, but when you’re attempting to shift your house at a later date, they could come back to haunt you to the tune of £16,000.
Holly says: “You will likely narrow down your potential viewers with features like a pool or a hot tub, as most people are unlikely to use them often and they can require a lot of maintenance work.
“They can really put buyers off and lead to a 7 per cent drop in house value.”
So before you decide to strap on your tool belt for a spot of home improvement, consider these five tips before going ahead and seeing your potential earnings dwindle in years to come.
(h/t the mirror)