Are you considering selling your home but are worried about its worth? Unfortunately, most homeowners are clueless about the fact that certain things can decrease their home’s value.
However, we’ve compiled a list of things that can depreciate your home’s value to help you avoid them.
Poor Paint Quality
The home’s exterior is usually the first thing people notice when they visit your house, and indeed it makes the first impression. So, if your exterior has a shabby look with cracked or peeling paint, it will be a big turnoff for people. Moreover, if the inside of your house looks ragged too, it can be off putting and automatically decrease the value of your house. So, if you keep ignoring those chipped walls, they might lower your home’s worth.
Individuals tend to purchase homes that appeal to them personally. Most potential buyers imagine themselves in the home they’re visiting; if they imagine themselves there, they seal the deal. Unfortunately, when homeowners tend to go overboard with home customizations, it ruins their home’s value and makes it less appealing for buyers too.
Personalization and customization aren’t good alternatives for individuals that are considering selling their home now or soon. Furthermore, make sure you don’t invest in irreversible customization or personalization since undoing it will cost you way too much. And not to forget, it will make potential buyers consider the next property on the listing.
Lack of Maintenance
Is your roof leaking? Does your HVAC system need repairs? If that’s the case, it’s better to deal with them right away. Allowing them to sit on your to-do list will only depreciate the value of your home. Furthermore, the longer you wait, the more expensive it is to fix these problems.
A foreclosure right near your home can drastically impact your home’s value. This is because appraisers utilize comparable selling prices in your neighborhood to determine the value of your home. Furthermore, foreclosed homes may lie uninhabited for a long time without being maintained. That doesn’t speak well for the value of your home.
Bright and Bold Paint Colors
As homeowners, we love experimenting now and then with our home’s interior and exterior. In some cases, we go a bit too overboard, adding some bright and bold colors to our walls.
Sure, that can be your style, but they can decrease your home’s value. Bold and loud colors can be an eyesore for a potential buyer. So, try keeping it neutral and warm to ensure it doesn’t affect your home’s value.
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