Are you currently considering selling your home or have plans to do so in the future? If so, it’s important to understand a few factors that may potentially decrease the value of your property and how you can avoid them.
Location
This can make or break your property. A home in a homey neighborhood with plenty of activities in walking distance will easily score you a higher value. On the contrary, homes near unattractive sites such as airports, cell phone towers, or on a busy highway.
Bad Neighborhood
If the crime rate is high in your location, you may find yourself with a lower valued property. A few other downfalls can be neighbors who have poorly cared for properties. Buyers frequently evaluate the neighborhood they may be potentially moving into and if they see an area that is filled with houses in poor conditions or high crime rates, there will be higher chances they will look elsewhere.
Customization Gone Wrong
Opting for unusual paint colors and items in your home can cause you to lose money when it comes to resale. When putting your home on the market the goal should be to appease as many buyers as possible. Bold choices and overly customized areas in your home can turn potential buyers away.
When designing your home for resale stick to neutral colors and high end features that will agree with a various range of design styles.
Odors
Having pets is wonderful however, the smells that come along with them are not. Ensuring your home is free of hard odors from pets is important. Avoiding any odors of an unpleasant environment is crucial as this can be a main deterrent for buyers to head elsewhere.
Outdated Elements
Compared to a home with all new fixtures, appliances, and cabinetry, an outdated home will easily have a lesser value. If you’re looking to get the most out of your home, you should focus primarily on your kitchen and bathrooms as these can be large selling points.
A home’s value can be thousands more when the kitchen and bathroom are in tip top shape.
There are many factors that go into determining a home’s value. If you have been asking yourself, “What is my home worth?’ It may be time for you to contact a realtor or obtain an online estimate on where your home’s value lies.
