Creating your dream home doesn’t come cheap and when it comes to renovations, it’s important to ensure you’re spending money in the right places if you’re hoping to add value to your home and secure a decent return on investment when you decide to sell up. Click or scroll to see some of the most common home improvements that could end up costing you more than you’ll make back…
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Converting a bedroom into a dressing room
A separate dressing room is only practical if you have plenty of bedrooms already in your floor plan so that it doesn’t affect your home’s value. If not, why not fit out your new walk-in closet room with freestanding closets that can be easily removed, allowing the space to be converted back into a small bedroom when it’s time to sell.
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Covering up period features
Older heritage properties often have exquisite antique features that once restored to their former glory can make amazing focal points. So, before you brick up the hearth, cover the original wood flooring or remove the ceiling roses, think about how these features could add characterful value to your home. A period herringbone brick fireplace is beautifully showcased in this renovated scheme by Cousins and Cousins.
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Going overboard on built-in furniture
While built-in furniture can help streamline your living spaces, it can also limit the versatility of rooms. Think twice before you fit out every bedroom in your house with built-in closets and cupboards – a future buyer may want to transform one of the bedrooms into a home office and could be put off by the extra cost and hassle of removing these fixtures. It’s much better to go for freestanding furniture that keeps the room flexible.
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Extending without a permit
A house extension is a great way of adding space and value to your property. However, if you don’t go through the proper channels to gain permission it could prove very costly. What’s more, you may even be ordered to demolish your new build completely if your contractor hasn’t adhered to the correct standards. Some types of extension don’t require a permit but always do your research first.
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Going over the top with murals
Adding a vibrant 3D art mural to your walls may be a fun way to create a unique living space, but it can become a problem when it comes to selling up. While it can of course be painted over, some buyers may find it difficult to see beyond your extensive personalization. Instead of daring paint or wallpaper choices, why not experiment through bold accessories instead?
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Investing in too much tech
You may love the fact that you can turn on the stove and lights with your phone, but an array of gadgets and smart technology installations won’t add value to your home and may even turn buyers who like traditional methods off entirely.
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Changing the garage into a gym
Converting your garage into a home gym could seriously dent your profit when it’s time to sell. Garages and parking spaces are in higher demand than ever before so bricking up the door to create a small space cluttered with gym equipment may not be such a good idea in the long run.
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Growing a high-maintenance yard
While a good-looking yard is a big plus for potential buyers, they may be put off by anything that looks like it needs extreme upkeep, whether it’s an overly manicured lawn, box hedging or delicate plants that need to be replaced every year.
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Ripping up the lawn
We have already covered how a high-maintenance yard can be a mistake but removing a healthy lawn completely can be just as damaging as buyers place real value on their green spaces. If cutting the lawn every fortnight fills you with dread, investigate how an area of faux grass could benefit your yard. Some products are now so lifelike it’s difficult to tell the difference!
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Investing in solar panels
Although solar panels are one of the most energy-efficient ways to fuel our homes, they usually have minimal positive impact on a property’s value. Some buyers consider them an eyesore, maintenance can be perceived as troublesome and they can hinder future renovation plans such as a new roof, loft conversion or extension.
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Overspending on a luxury kitchen
A new kitchen is one of the most expensive investments you’ll ever make in your home. And since it’s something you’re likely to do only every 10 years or so, it can be tempting to splurge on a high-end designer model. But before you reach for your wallet, consider whether you might be able to get a completely new look by replacing one or two key fixtures rather than paying out for a complete refit – for example, you could upcycle your kitchen cabinets with new handles and a fresh coat of paint or update those worn countertops.
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Creating a master bedroom suite
Many of us would love a master bedroom suite with all the trimmings, however, it doesn’t always make financial sense in a smaller house. Having an ensuite bathroom, dressing room and walk-in closet could cost you money when you come to sell if it means transforming your home from a three-bedroom into a two-bedroom property.
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Building an entertainment room
Luxury basement conversions are experiencing a rise in popularity, with many homeowners opting to create subterranean entertainment spaces, from home cinemas to bowling alleys and home bars. But what you think is the last word in cool won’t always appeal to potential buyers, particularly if the space includes large, built-in fixtures. Keep the arrangement as flexible as possible, with a freestanding drinks cabinet instead of a bar, so potential new owners can put their own stamp on the space.
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Splashing out on a swimming pool
Having your own swimming pool feels like the epitome of home luxury, but it can come with a hefty price tag, both in the short term and the long term. Construction aside, a pool can cost quite a lot to maintain, especially if you’re planning on heating it. Swimming pools can also be off-putting to potential buyers, who may see them as an added hassle or even a safety hazard if they have small children.
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Overdoing the decking
The decking craze that began about 20 years ago in the wake of a surge in TV DIY shows has been abating of late. While decking does make for a practical outdoor sitting space, it doesn’t carry the allure it once did and may appear a bit dated in the eyes of fashion-conscious buyers. A stone patio will stand the test of time and won’t need restaining either.
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Going all-out for alfresco eating
Unless you’re a serious barbecue enthusiast, forking out on a built-in grill or pizza oven is unlikely to prove a good investment. While some buyers may enjoy the novelty of an outdoor kitchen, others will see it as a waste of space, and neither will part with extra cash for the privilege of being able to cook outside.
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Fitting wall-to-wall carpet
Carpet ups the cozy factor in a home, but it can also up the overall cost of your renovation project without adding appeal for future buyers. Many people today prefer a mix of carpet and hardwood floors, particularly in hardworking areas like entryways. If you do go for carpet and are planning to sell your home, stick to neutral shades that won’t clash with your buyer’s potential decorating plans.
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Replacing the roof
Some home renovation projects are a once-in-a-lifetime job, and replacing your roof is one of them. This is partly because of the cost and partly because it can prove quite tricky, involving scaffolding and several days of skilled labor. Plus when the time comes to sell up, you’ll probably only recoup just over half of what you’ve spent on the roof – worth bearing in mind if you’re considering replacing a roof for purely aesthetic reasons. If certain areas look especially worn, it may be far more cost-efficient to replace a small section of tiles instead.
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Choosing designer tiles
Bathroom tiles can make or break a scheme, but that doesn’t mean you have to spend a fortune on them. Shop around a bit and you can usually find affordable alternatives that create just as luxe a look overall, particularly when it comes to classic finishes such as marble.
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Sacrificing bedroom space for an ensuite
If you’re sacrificing part of a bedroom or possibly even a whole one in favor of a bathroom, you may be inadvertently knocking money off the value of your home, as buyers tend to prefer extra sleeping space over extra bathing space. This bedroom may now have a convenient ensuite bathroom but the sleeping area left behind is extremely cramped.
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Blowing the budget on things you can’t take with you
If you live in a low or mid-range price home, splashing the cash on top-spec fixtures and finishes is a guaranteed way to lose money in the long term. It won’t instill prospective buyers to up their offer, so sticking to quality, mid-range items is a safer bet. Of course, if you’re planning to stay in your home for a long time and want to enjoy the finer things in life, then you can go as luxe as money allows, as long as you remember that you won’t be getting that money back if you do sell up.
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Not catering for your target market
If you’re planning to sell your home within the next five years, think about the target buyers in your local market before making any major updates. For example, if you live in an area where people are looking for family homes, converting a handy built-in bath into a walk-in shower that may not be appropriate for those with young children could alienate potential buyers. Speak to local estate agents to get an idea of what sells best where you live.
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Installing invisible upgrades
If you’re planning to sell up soon, don’t waste money on home improvements that you can’t see, such as a new heating system. If your current boiler still works perfectly well, leave it be and spend the money on something that buyers will actually notice – new windows offer one of the best returns on investment.
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Doing up just one or two rooms
Any buyer will be impressed by an immaculate new bathroom. But put that bathroom next to an old-fashioned kitchen that hasn’t seen so much as a paintbrush since the 1980s and that shiny bathroom will only highlight how much work needs doing across the rest of the house. Rather than getting one or two rooms just right, spread your spending across your entire home, improving the overall impression it makes on prospective buyers.
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Following trends too closely
Keeping abreast of the latest interiors trends is lots of fun, but if you’re short on cash or are planning to sell up soon, it’s best to incorporate them in accessories that can be easily replaced. Installing more permanent trend-led fixtures can be off-putting to prospective buyers: if you’re too far ahead of the curve, they might not understand your style.
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