Solar panels and outdoor pools more likely to devalue than add value to a home in UK
Home owners looking to put their property on the market to sell often look at what will help them get a good deal but now new research reveals what is likely to have devalued the price of a home. The things most likely to devalue a home include solar panels, bold interior design, swimming pools and dingy, dark rooms, according to a new report from the National Association of Estate Agents (NAEA)
‘The house moving process is stressful, so it’s important to know what adds value to your home and what might detract or put off potential buyers. Sometimes the improvements you have made might not appeal to buyers, so even though you’ve spent money on them, they might not necessarily add any value,’ said Katie Griffin, NAEA president.
The NAEA says that while solar panels may save money on energy bills in the short term, and they’re environmentally friendly, they might not actually add any value to your home. The report says that the technology ages quickly and it can be expensive to upgrade. The same applies to built-in kitchen appliances, which are great to start with, but within five years are out of date. Solar panels can also appear as unsightly and unattractive, and those more concerned with aesthetics than the environment don’t usually want them stuck on the side of their roof.
Particularly colourful or bold interiors could put off buyers and the NAEA says that it might be worth re-decorating before putting a property on the market. Estate agents say that typically, modestly decorated homes are most desirable as home owners can easily see how their own belongings would fit into the space, and how they could make it their home.
Although great fun for a weekend or two in the summer, outdoor swimming pools in Britain aren’t usually considered an attractive house feature. They’re expensive to maintain, use up a lot of space, and the weather means they cannot be used very often, often making them a lot more fuss than they’re worth.
Sellers should make sure that any planning permission and building regulations are in order before selling. Any work carried out such as extensions or conversions should have the appropriate planning permission and building regulations, and buyers need access to these documents.
Finally the report says that if there are two identical properties for sale and one is bright and airy while the other is dark and dingy, nine times out of the 10 the brighter one will be worth more, because it’s more desirable. Foliage around windows, and large trees should be cut back before marketing to give the impression of a light and spacious home.