4 Things That’ll Decrease Your Home’s Value
Nobody wants to get their home’s value appraised and find out that it’s worth less than what they bought it for. Your property, after all, is, among everything else, an investment. As a responsible homeowner, you’ll need to work to ensure that the value of the home steadily increases. Part of this process involves learning about what things can decrease your home’s value. In this blog, we’ll take a look at five of the most common reasons a home could lose some value. You can’t always prevent it from happening, but often you can.
Foreclosed Homes
But let’s begin first with one thing that’s beyond your control: foreclosed homes. It’s always important to remember that a house doesn’t exist in isolation. Much of the value is drawn from the location, and what’s located in the vicinity. If there are plenty of foreclosed homes, then there’s no avoiding it -- your home will lose some value. People invest in a property because they like the community around it, but if there are too many vacant homes, then there is no community. Even if all the surrounding homes are occupied, a house can dip in value if there are noisy neighbors on either side.
The Front Yard
People make snap judgements. They always have, and always will. When a prospective buyer rolls up to your property, they’re going to get a sense of what it’s like before they even get out of the car. The first thing they see will make, well, their first impression. So it’s important that you’re working to make your front yard presentable; it really can make a big difference to the overall value of your property. A few simple alterations, such as painting the front door and adding plants and bushes, will push things in the right direction.
Big Problems
Things like an unpresentable front yard will impact your home’s value, but at least they’re surface-based. There are other problems that are much bigger, and these big issues can seriously harm your home’s value. If you have consistent leaks at your property, then you’ll run the risk of mold, which can be difficult to get rid of. A damaged shingle is one of the main causes of roof leaks, so if you notice one, get in touch with a roofing company as soon as possible. Another big issue is anything related to your foundations. Since they can be expensive to repair, they usually impact a home’s value significantly.
While individually they’re small problems, think about the collective damage that a general lack of upkeep can bring. A home with many issues has one big problem! Learning the basics of DIY can help with this.
Bold Looks
Finally, be wary of bold looks. It’s fine for your home to have splashes of your personality, but if it’s too much, then homeowners may have second doubts. And that’s fair -- if your personality touches everything in the house, then it’ll be hard for them to put their stamp on things when they move in.
Hope this helps! Cheers!
Janelle
