Buying a home is a long-term investment that will often make you money in years to come. Boosting your property's value by adding certain features can give you the chance of a making a bigger profit when you eventually come to selling it.
A property expert has now revealed that homeowners can add a huge amount to their home's value by installing one particular feature. New research from specialists Simply Paving reveals that adding a patio to their outdoor space can add around £25,000 to the asking price of their property when they come to sell it.
In the north west, the average cost of installing a patio is £7,341, meaning they will make a return of more than £17,000 on their investment. Those in Greater London could see a whopping 1,112% return on their initial investment, pocketing an extra £74,000.
READ MORE:
Experts at Simply Paving also say if you can do the job yourself, you can save a lot on the cost.
"Laying a patio by yourself is a great way to save money on your paving project, while also learning new skills that can be invaluable for future garden maintenance.
"Start by reading how-to guides and watching helpful tutorial videos online to get to grips with the general ideas of laying paving slabs. Then, when it comes to installation day, ensure you have your favourite guides and videos close at hand for quick reference.
"We also recommend trialling a small space before you go all-out with a large patio project – even the most confident amateur landscapers don’t get it right the first time."
When it comes to your property's value, there are also certain features that can make you home worth considerably less.
Garden building specialist Tiger have now warned that there are five garden additions that are actually devaluing homes.
"Large water features are seen as too much hassle for many people which causes them to devalue a home. Due to the maintenance required and running costs, including water, electric and chemicals - with rising bills they are not attractive to as many homeowners and are seen as more of a luxury purchase," the specialist said.
"Sheds, summerhouses, or other garden buildings in your garden that are in poor condition will create a lasting negative impression. Issues such as smashed windows, peeling paint or mossy roofs can look unappealing and signal the buyer will need to deal with these problems down the line."
The garden expert also said that artificial grass can decrease the value of your house.
"Whilst many install artificial grass to make their garden lower maintenance without the need for mowing and less likely to attract weeds, this is seen as a nuisance by many and especially those keen gardeners or pet owners," Tiger explained.
"Removing artificial grass is costly, and installing natural grass costs around £150 per square metre, which means that potential buyers may look to recoup these costs when putting an offer in."
They also said that broken fencing and unstable decking can also deter buyers and reduce your property's value.
Sam Jenkinson, garden expert at Tiger commented: “When looking to purchase a property, the garden has a big impact on what someone will offer, as people want to enjoy time spent outdoors with family, friends and pets.
"Make sure that your garden appeals to buyers by making simple maintenance checks and avoid features that won’t add value if you want to sell. From tired looking features to a damaged shed or garden building, this will have a negative effect on what amount people bid for your home.”
Sign up to our free weekly property newsletter by clicking here
READ NEXT:
Three Greater Manchester areas named in best places to live by Sunday Times
'Immaculate' first-time buyer home in Greater Manchester on market for £189,000
Greater Manchester’s latest property hotspot areas where house prices are soaring
Average house price in every area of Greater Manchester as property costs rise again
Warning to anyone buying or selling a home as property expert says 'brace yourselves'
