Property experts warn ‘common feature’ could knock £49,000 off house value
Making renovations to your home is often a good way to add value to the property.
Even just a few simple touch-ups are enough to boost the value as well.
While it's often a good thing to make changes, sometimes it could knock money off the house value.
According to experts at Hammonds Furniture, a common feature can slash a few thousands off the selling price.
A research found that mould or damp on the walls would deter 62% of potential buyers.
Although many homes will experience this, experts say it's important to deal with the mould quickly to avoid it from costing more.
Around 57% of homeowners also explained they would be reluctant to buy if there were any signs of pest infestation.
Michael Patterson, Managing Director at WeBuyAnyHouse, explained they issues could knock 20% off the value of the property.
So if the average house costs £247,355, that means the price could drop by a whopping £49,471.
Not only does mould and pest put people off, it can cost buyers a lot of money to solve.
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Michael said: "Mild cases of mould may not affect value too dramatically if all is needed is a dehumidifier and some mould-resistant paint.
"But, very severe cases can reduce a property's value up to 20%. Pests can also cause extensive damage, especially rats that are prone to chewing through electrics and wooden beams, which you would need to repair.
"Depending on the damage done, you could be looking at between 5 to 20% of a decrease in value."
But homeowners could add thousands of pounds on a property again by updating the garden.
Even a loft conversion or conservatory can add a little bit of value.
Michael added: "A nice sized garden can add up to 25% more on a house price, especially if it is well maintained with a seating area for the summer.
"A carriage driveway can add up to 15%, and an attractive conservatory can add up to 10% to a house price.
"If a loft conversion can be used as an extra bedroom, it can add 20% to a property price."
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