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Two popular summer garden features which could instantly knock up to £60k off your house price
The summer garden features are a matter of personal preference - but many home buyers don't want to inherit them
TWO popular summer garden features could be knocking thousands of pounds off the value of your house without you realising.
With house sales still relatively slow, it's more important than ever that sellers make their homes as desirable as possible for potential buyers.
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House prices have remained relatively flat over the past year, but experts believe the property market will pick up following the general election and with rate cuts expected later this year.
With that in mind, homeowners keen to sell up should be wary of two popular summer garden features that could actually have a negative impact on the value of their property.
Garden ponds and swimming pools may be lovely during the warmer months, but they can actually wipe a combined £60k off the price of an average home, experts have warned.
A swimming pool could knock as much as 20% off your house price, equating to a hefty £55,000 penalty, according to Ruth Beeton, co-founder of Home Sale Pack.
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Meanwhile, a pond is estimated to damage your home's value by around 1.8%, which equates to around £5,000 off the average property price of £281,000, according to Office for National Statistics data.
“When it comes to the value of a property, it’s important to remember that potential buyers won’t necessarily view some features as positively as you might," Ms Beeton said.
"Ponds and pools are a great example of this as both pose a potential safety risk, particularly for children.
"They also require a degree of maintenance, which requires time and money, and ponds can also attract rodents such as rats and mice."
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A pool typically costs £45 to £85 in labour per month to keep maintained, according to Checkatrade.
And these water features can be expensive to get rid of, too - which means either you'll have to fork out or your buyer will be factoring the cost in - something to consider before taking the plunge and building one.
What if I have a pond or pool and want to sell?
If you do have one of these features, don't panic.
First, remember that some people will actively be looking for these features - you might just appeal to a smaller market.
Ms Beeton said it's important to ensure your home looks its "absolute best" when you market it online so potential buyers aren't put off, or may even see the features as a positive.
For example, make sure you emphasise if they are not too deep or are easy to clean, and make the surrounding area look attractive on photos.
“The other option is to remove it altogether - although while this can be fairly straightforward when it comes to ponds, removing a pool can be an expensive endeavour," Ms Beeton said.
To fill in your pond, a landscaper will typically charge between £110 and £180 per day, according to Checkatrade.
And you can expect to pay around £85 per tonne for topsoil.
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However, the price of this can vary depending on the size of your pond and the local rates.
Meanwhile, removing a swimming pool can cost upwards of £10,000, although this will depend on the size of the pool.
It's not just ponds and pools that can devalue your home.
We previously reported that conservatories could actually become unpopular with younger buyers and could be knocking £15k off a typical house price.
Meanwhile, brown, unpainted Pebbledash on your external walls could be reducing the value by £28,469 and poor parking options, or none at all, can also slash your asking price by £19,359.
You can read our full list of de-valuing features here.
BEFORE YOU MAKE THE PLUNGE....
SWIMMING pools and ponds, while offering luxury and leisure, can sometimes deter potential buyers and even decrease your home's value.
Experts at Open Property Group told The Sun why you should think twice about adding the feature to your garden.
Upfront and Ongoing Costs:
- Installation: Pools and ponds require a significant initial investment. Depending on size, design, and materials, these costs can be substantial.
- Maintenance: Both pools and ponds require regular upkeep, including chemicals, cleaning equipment, and potential repairs. This translates to ongoing expenses for buyers.
- Heating (Pools): Especially in cooler climates, heating a pool adds to the monthly running cost, which might be a turnoff for some.
Limited Appeal:
- Niche Market: Not everyone enjoys swimming or having a water feature in their backyard. This limits the pool of potential buyers interested in your property.
- Safety Concerns: Families with young children might be wary of the safety hazards associated with pools.
- Time Commitment: Maintaining a pool or pond takes time and effort, which some buyers might not be willing to invest.
Reduced usable garden space:.
While swimming pools and ponds can enhance your enjoyment of a property, they might not be universally appealing to buyers.
How to boost the value of your home
If you are keen to sell your home, there are number of features which buyers are attracted to that could boost your value.
According to Open Property, the below features may help:
- An extension
- A home gym
- A home office, or other garden rooms - as long as there is space in your garden
- Open plan rooms with kitchen/living areas for socialising and being the heart of the home
However, sprucing up your home before selling doesn't have to cost the earth.
"Think of quick wins that could make your home more attractive such as clearing your garden, giving your front door a fresh lick of paint, polishing your letterbox or power washing your entrance," Daniel Copley, consumer expert at Zoopla told The Sun.
He added: "When it comes to the interior of your home, focus on clearing out any clutter from high-traffic areas like your kitchen or living room."
Mr Copley also said that sellers should focus on the opportunities in your home to improve its value.
"For example, could you easily upgrade elements in your bathroom like taps and shower fixtures, or improve your home’s EPC rating by installing solar panels," he explained.
What is going on with housing market?
The property market has seen a slow down over the past few years because mortgage rates have significantly increased, putting off first-time buyers and meaning homeowners are reluctant to move.
However, markets expect the Bank of England to cut its base rate in August this year after policymakers kept it at 5.25% in June.
This is important for buyers because high street banks and lenders use the BoE base rate to set their own interest rates on mortgages, loans and savings accounts.
So, if the base rate comes down, interest on mortgages rates and loans is likely to fall as well.
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The number of people selling their home is now set to rise this year.
Zoopla expects 1.1m homes to be sold in 2024 - 10% more than in 202.
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