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24th March 2017
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Brits turn 'do-it-yourself' into 'devalue-it-yourself'
Dodgy DIY by British homeowners may be devaluing the sale price of the average UK home: a staggering 91% of British adults would reduce their offer on homes with signs of poorly-done DIY by some amount, and over half (54%) would be less likely to put an offer in at all. What's more, Brits would reduce this offer by 11% on average, amounting to a loss of over £30,800 for the average English home.
In the capital, this figure shoots up to £60,149.
According to the results published today from TrustMark, the Government-endorsed 'find a tradesman' scheme, homeowners' self-fuelled renovation projects can prove even more expensive in some instances.
A third (31%) of British adults say that dodgy DIY would prompt them to reduce their offer by over 10%, with nearly one in seven (13%) likely to reduce their offer by over 20%.
Unqualified homeowners attempting electrical DIY has the largest impact on the value of their homes, as visible wiring was chosen as the most off-putting example of poor DIY by 40% of British adults, and inconveniently or poorly placed electrical sockets were also cited by 10% of respondents as the biggest DIY flaw. The second most important turn-off for prospective buyers was ill-fitting or unfinished kitchen units, ranked as the most off-putting DIY flaw for 18% of respondents.
"While DIY projects can be immensely rewarding, homeowners should be wary of attempting DIY beyond their skill-set - as these results show, inadequate work can seriously reduce the value of their homes, or even put prospective buyers off completely," says Simon Ayers, chief executive of TrustMark.
"It's worth noting that some of the most off-putting DIY flaws - like faulty wiring and ill-placed electrical sockets - are as dangerous as they are devaluing: homeowners should never attempt to carry out electrical or rewiring work without a trained expert. While it can be tempting for those without a network of reliable tradesmen to try their hand at DIY instead, it's worth getting a qualified expert in for those jobs you can't do yourself to be sure you're preserving the value of the property."
Interestingly, young people, including those who may be first time buyers, were less likely to reduce their offers because of these issues. One in ten (10%) 18-34 year olds say they would actually be more likely to make an offer on these properties - yet would still offer 9-10% less on account of poor DIY. In contrast, those aged 65+, who may be more experienced buyers, were most likely to be put off making an offer due to these issues (60%, compared to the average of 54%).
Brits in London and the South East ranked highest when it came to being least deterred by poor DIY, with 11% of those in these regions saying they'd be more likely to put an offer in on these homes (compared to 7% overall). However, they would still reduce these offers by 10% on average, showing that poor DIY can affect prices in even the most competitive housing markets. When asked about the single most off-putting signs of poor DIY in a prospective home, the British public ranked the following:
* Visible wiring - 40%
* Ill-fitting or unfinished kitchen units - 18%
* Inconveniently or poorly placed electrical sockets - 10%
* Ill-fitting or unfinished bathroom units - 5%
* Squeaky floorboards - 5%
* Badly painted walls or woodwork - 2%
* Poor grouting / tiling - 2%
* Poorly landscaped gardens - 2%
* Dripping taps - 1%
* Poorly fitted carpets - 1%
* Poorly hung wallpaper - 1%
* Don't know - 12%
21st November 2014