However, before you pick up that sledgehammer or start installing a croquet pitch in your back garden – slow down and consider the following if you want to maintain the value and saleability of your home:
- Don’t remove bedrooms
Unless you’re moving into a 7-bedroom country home that could afford to lose a room, don’t start getting rid of any bedrooms in your home. For example, whilst it may be tempting to knock through the wall of the box room in your 4-bed house to make for a larger family bathroom – think twice. Removing a room from your home could significantly impact the value of your property – so if you aren’t planning on staying there forever, learn to love the box room.
- Don’t install ‘out there’ or cheap fixtures
If your house is in need of a little renovation when you move in, try not to skimp in the area of fixtures. Future prospective buyers are interested in the finishing touches so it’s worth opting for quality if you can. It’s also worth mentioning that it’s best to stick with simple fixtures that will appeal to everybody – not ones that are too whacky and will need to be replaced before you put your house on the market.
- Don’t smoke inside
While this is against the law, let’s not pretend it doesn’t still happen. When you’re a tenant living in your landlord’s home you’ve got to follow the rules – now you’re in your own home however, it can be tempting to just crack a window and think that’s enough. It isn’t. If you smoke, the likelihood is you’ll become accustomed to the smell – which will seep into the walls and stay there. In America, smoking in your home can knock up to 29% off the value. Don’t take the risk. Put on a coat and step outside.
- Consider what will fit into your neighbourhood
You may love traffic-cone-orange, but will your neighbours love it so much when it’s painted on the front of your house? And will that tennis court really look right at the back of your two-bed semi? Really consider anything that A) Has the potential to make your neighbours miffed or which B) Could make potential buyers think twice.
By just putting a little extra thought and consideration into changes you’re thinking about making to your first home, you could maintain or boost its value so that future selling need not be a problem.
If you are considering either buying a new home or making any structural changes, it may be worth discussing your finances with an accountant first. Visit our Personal Finance page for more information.
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