7 Renovations That Devalue Your House
Hello, my name’s Samuel Leeds. I’m a property investor, and today, I’m going to share what renovations you shouldn’t do when you’re trying to increase its value.
Often, these renovations are the ones that homeowners do in order to increase the value of their home. However, it backfires and decreases the value!
I’m going to start with number 7, which is the least detrimental, and I’m going to go till 1, which is the most detrimental.
7. Water Feature/ Swimming Pool In Garden
Adding a swimming pool, a pond, or a fountain may seem like a nice addition to your home that adds in its value. However, it actually decreases the value of your home and puts off some buyers.
This is because many homebuyers don’t want a swimming pool, or don’t want to maintain it. Moreover, they may even have small children they’re afraid might fall in the pool.
Therefore, you may put off buyers if you include a swimming pool or water feature in your garden.
6. Garage Conversion
If you own a garage in your home, but don't own a car, you may think about turning the garage into a games room or a family room. You may think it would push the home's value up, but it doesn't.
Instead, many homebuyers often have a checklist that has a garage on it, and if they get to know that you have converted the garage into something else, they may walk right past it!
You may not like the look of your wall paint and think about getting a wallpaper on it. However, don’t do that!
Firstly, the wallpaper looks a little old-fashioned and tacky. Secondly, when people see the wallpaper, they think that it's there to hide something, that it's a cover-up. Then they think about all of the things they may need to do to the wall and add that to the refurb. So, a wallpaper may put your homebuyer off in some instances!
4. Open Plan
On number 4, the worst thing you can do to your home is to make it into an open plan property. Open plan home is when you knock off the standing walls and combine two or three rooms. Perhaps you like an open plan home, but some home buyers won't. Maybe they have kids, and they want extra rooms that they could allot to them, and that might become a problem for you!
3. Merging Bedrooms
Another bad thing you can do to your home is to merge bedrooms! You may think that you have two small rooms and you might just merge them to one big room. However, many homebuyers don’t like that because now, instead of two rooms, you end up with one room.
Moreover, some people also turn a small room into a bathroom. They end up having a big bathroom and two small rooms. Don’t do that because it’s going to bring your home’s value down.
2. Artificial Grass
Now, I don't know why it is so bad, but some people actually despise artificial grass in the garden! You may like the faux grass when you come as a visitor, but as a homeowner, you may not like it.
You end up investing a lot of money into it, and it brings your home's value down!
1. Japanese Knotweed
Now, I haven’t seen people do this deliberately, but people actually put Japanese Knotweed in their gardens.
Listen, Japanese Knotweed grows through concrete and ends up ruining structures. People can be fined if they don’t treat it. Moreover, if you put the plant in someone’s garden as a prank, you may even go to jail. That’s how bad it is!
So, I'm sure you're not planning to put the plant in your garden because this will bring the value of your home to ZERO!
I hope you enjoyed the video and learned a few things from it. Subscribe to my YouTube channel and push the bell icon to not miss any new videos on property investing!
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Samuel Leeds is a best selling author, award winning speaker and has over a decade experience as a property investor.
It is so important to only renovate your property when you are increasing the value.
Email Samuel at [email protected] #PropertyRenovations