What’s more, Brits would reduce this offer by 11 per cent 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 per cent) of British adults say that dodgy DIY would prompt them to reduce their offer by over 10 per cent, with nearly one in seven (13 per cent) likely to reduce their offer by over 20 per cent.
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 per cent of British adults, and inconveniently or poorly placed electrical sockets were also cited by 10 per cent 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 per cent 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 per cent) 18-34 year olds say they would actually be more likely to make an offer on these properties – yet would still offer 9-10 per cent 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 per cent, compared to the average of 54 per cent).
Brits in London and the South East ranked highest when it came to being least deterred by poor DIY, with 11 per cent of those in these regions saying they’d be more likely to put an offer in on these homes (compared to 7 per cent overall).
However, they would still reduce these offers by 10 per sent 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 per cent
Ill-fitting or unfinished kitchen units – 18 per cent
Inconveniently or poorly placed electrical sockets – 10 per cent
Ill-fitting or unfinished bathroom units – 5 per cent
Squeaky floorboards – 5 per cent
Badly painted walls or woodwork – 2 per cent
Poor grouting / tiling – 2 per cent
Poorly landscaped gardens – 2 per cent
Dripping taps – 1 per cent
Poorly fitted carpets – 1 per cent
Poorly hung wallpaper – 1 per cent
Don’t know – 12 per cent