The biggest celebs in the world obviously have plenty of money to fork out on home renovations, but as it turns out, money doesn’t necessarily breed money.
While they may have some of the best advisors around, it appears that personal quirks can often cause chaos when it comes to the value of a celebrity’s property.
It has now been revealed that Ed Sheeran is one of those celebrities who forked out major money on his home, only to decrease the value of it in the process.
New research conducted by money.co.uk suggests that Ed splashed £3 million or €3.3 million to do up his estate, but it set the price of his home back by 25%.
After the renovations, the property features a pub, an underground music room and a cinema, all of which cost well into the hundreds of thousands.
According to the study, Ed bought his Suffolk home dubbed ‘Sheeranville’ for £4 million (€4.4 million), but after he pumped £3 million (€3.3 million) more to do it up, the property was only valued at £3 million (€3.3 million).
That’s a £1 million (€1.1 million) loss on the house price on top of the £3 million spent on renovations!
The estate agent, Paul Gibbens of Housebuyers4u said: ‘The evaluation revealed that because the estate is so bespoke and unique to Ed’s taste, it could have a negative impact on the sale price, and the cost of reverting any of the features could be hefty.’
Unlike Ed, mega rich chef and TV star Gordon Ramsay managed to increase the value of his Cornwall home by £1.6 million (€1.8 million) after he pumped £247,000 (€271,000) into the property.
The house is said to have cost in the region of £4.4 million (€4.8 million), but is now worth an estimated £6 million (€6.6 million) after the work.
It features the likes of an infinity swimming pool, a wine cellar and a boat storehouse.
Good friends of the Ramsays, but probably more famous are the Beckhams who staggeringly managed to double the price of their abode in the Cotswolds.
According to the research, David and Victoria bagged the home for £6 million (€6.6 million), but are now blessed to have it worth £12 million (€13.2 million).
Down through the years the couple renovated and altered the property to have their own football pitch and stand, outdoor swimming pool, sauna, and lake among other features.
Mr Gibbens said that with the quality of the renovations at the property it was ‘no surprise that the valuations were so high’.
Robbie Williams is among the property moguls who managed to make his property worth an extra £1.1 million (€1.2 million), despite some public planning issues.
His Holland Park house in London was estimated to have been purchased for £17.5 million (€19.2 million) in 2013, but it is worth £18.6 million (€20.4 million) now.
Robbie was embroiled in a five year row over planning with Led Zepplin guitarist Jimmy Page over the Let Me Entertain You singer’s wishes to have an underground pool and gym in his home.
Despite the problems, Robbie won and he is now sitting pretty with potentially an extra few quid in his pocket.
Bear Grylls certainly isn’t as recognisable as the rest on this list, but he might be the only one to own a private island.
Mr Grylls bought St Tudwal West, off Abersoch in Wales for £95,000 (€104,000) in 2001 and it would now fetch an estimated £150,000 (€165,000).
Although the price of the island has increase, Bear has a bit more money invested after shelling out a reported £580,000 (€637,000) for a harbour and £52,000 (€57,000) for a metal slip and slide.
Bear hit the headlines in 2013 when he installed an 80ft metal slip-slide on the island’s cliffs, allowing thrillseekers to slide right off the island and into the sea.
It caused controversy with the local council and was later removed. Bear promised he would ask for council permission before using it again.