Forget stocks and shares – it looks like home improvements are where we’re looking to put our cash.
According to a poll carried out by the Consumer Protection Association, 36% of homeowners planned to spend on products designed to jazz their place up last year.
Jeremy Brett, Director of the association, said: “When you consider the value of most home improvement products, this is a substantial amount of the property-owning population that are willing to spend." But will all this tinkering add value to homes?
Here are five DIY touches to avoid – and five alternatives to consider instead.
Five Home Improvements That Don’t Actually Add Value
Solar panels(01 of10)
Some people love their rays of light, but for many potential buyers, they are seen as a worry, and not something worth paying extra for. With the current uncertainties about feed-in tariffs, future owners really have no idea how much money solar panels will save them – and then there’s concerns about repairs and maintenance costs.
A questionnaire sent out by the National Association of Estate Agents to 1,200 members revealed that 70.6% believed solar panels make no difference to the value of a property for sale. So whatever your motivation for installing solar panels, don’t do it hoping to increase your home’s value. (credit:Space Images via Getty Images)
A questionnaire sent out by the National Association of Estate Agents to 1,200 members revealed that 70.6% believed solar panels make no difference to the value of a property for sale. So whatever your motivation for installing solar panels, don’t do it hoping to increase your home’s value. (credit:Space Images via Getty Images)
Removing the downstairs toilet to create a cupboard(02 of10)
No matter how much you crave extra storage space, leave the loo well alone. A downstairs WC is an absolute necessity in a house – Grandma and Grandpa can get to it easily and visitors don’t need to trudge upstairs to use the bathroom.
David Warren from Paramount Properties came across a home where the downstairs toilet had been replaced by a cupboard: “By removing it the property fell in value by 5%, and was also on the market for longer than average,” he says. (credit:Anna Coffari / EyeEm via Getty Images)
David Warren from Paramount Properties came across a home where the downstairs toilet had been replaced by a cupboard: “By removing it the property fell in value by 5%, and was also on the market for longer than average,” he says. (credit:Anna Coffari / EyeEm via Getty Images)
Hard-to-change décor(03 of10)
You may love your Scandinavian wood panelling, limestone feature fireplace and designer carpets, but don’t expect your taste in décor to increase the value of your home. (credit:Steven Errico via Getty Images)
Turning a bedroom into an office(04 of10)
By all means use a small bedroom as an office or study, but use freestanding furniture. Resist the temptation to build fitted office furniture and flooring that would take a lot of effort to remove when turning it back into a bedroom. Flexibility when it comes to thinking about re-decoration is key. (credit:Astronaut Images via Getty Images)
Koi pond(05 of10)
One person’s relaxing water feature is another’s massive hazard. According to a horrifying statistic from the ROSPA, 58 children drowned in garden ponds between 1995 and 2005. A deeply-dug koi pond, especially if it is in a small garden, will deter families with young children and pets from buying your house. Aside from the dangers, a deep koi pond is difficult to drain, remove and fill in, and will whack zero more buck onto the price of your home. (credit:Magnus Lai / EyeEm via Getty Images)
Loft conversion(06 of10)
Property guru Phil Spencer says, "an extension that simply brings delight to your life in many cases can add value later on when you sell." Converting your loft into an extra bedroom with an en suite bathroom is both a delight and a sure-fire way to add value. (credit:Roy Mehta via Getty Images)
Extra bathroom(07 of10)
The days of squabbling over a single bathroom will be over if you add an extra one to your home. Plus, it’s likely to stick a nifty 5% extra value onto your castle, according to the experts at Property Price Advice. (credit:Hero Images via Getty Images)
Real fireplace(08 of10)
As well as looking charming and adding character, a real fireplace is sure to work wonders when comes to selling up. “If you spend £3,000 to install a quality working fire or a stylish modern woodburner, it may sound a lot of money but it can add as much as £10,000 to the value of a property," or so says Ed Mead, a director at London-based estate agency Douglas & Gordon. (credit:iplan/a.collectionRF via Getty Images)
A roof garden(09 of10)
"More unusual home improvements are increasing in popularity," says Simon King, Director at Move with Us. “These include garden offices so they can work from home, workshops where they can carry out their passions, their own personal pubs and all sorts of other extraordinary structures." Creating a garden where there wasn’t one before can add up to 10% to your home’s value, so get creative with roof terraces and balconies. And don’t forget the man shed. (credit:Westend61 via Getty Images)
Painting the outside of the house(10 of10)
First impressions last, so make sure your house looks inviting from the outside. A fresh coat of paint is an easy way to do this, and can be as cheap as £100 if you do it yourself, or £1,000 if you get someone in to do it. But, as Phil Spencer says, this "could add £5000" to your house value. (credit:Hill Street Studios via Getty Images)