2. Ugly renovations
Average loss: $28,000
Renovations should be sympathetic to the original building. Starting an extension without considering the form or visual impact of the exterior materials being used so that the renovation appears as an add-on rather than part of the house, can potentially devalue your property by at least $28,000 on average.
For example, if you stick a flat roof weatherboard box on the side of an older home with a pitch tile roof, it’s going to look pretty ordinary and it’s going to look like the cheapest possible way that you can add a room. That’s not necessarily going to appeal to too many people when you come to sell the property.