Surprising Things That Decrease Property Value

Surprising Things That Decrease Property Value

When selling your home, you want to attract the best offer. However, some aspects of your home may hold you back. Before putting your house on the market, learn about surprising things that decrease property value. Then, create smart solutions to minimize problems.

Bad Neighbors

Bad neighbors are a nightmare, especially while selling your home. Potential buyers pay attention to surrounding houses and people in the area. If your neighbor has an unkempt yard, loud pets, or a penchant for partying, buyers may avoid your home.

Deferred Maintenance

The fastest way to deprecate your property is with deferred maintenance. A crack in the foundation or pipe leak may not seem like a big deal, but you must address even minor issues. Putting off repairs is a mistake because it leads to bigger (and more expensive) repairs later on.

In fact, one mistake to avoid when repairing your home’s foundation is waiting until the damage is severe. The sooner you start repairs, the more you can limit damage and costs. This idea goes for foundations and all other forms of home damage. Experts advise homeowners to act when they suspect problems if they want to attract the best offers.

Poor Workmanship

Warped carpets, uneven railing, and awkward home additions affect the home-buying experience. Most people want to buy a home that doesn’t need immediate repairs. Unfortunately, poor workmanship compromises quality and decreases the home’s value.

Outdated Kitchens and Bathrooms

Potential home buyers know “vintage” can be code for “outdated.” Owning a 1970s inspired kitchen or bathroom isn’t ideal for current buyers. People want modern rooms with updated appliances. Unless you only want to attract buyers interested in the retro look, it’s best to upgrade most rooms.

Proximity to Specific Facilities

Proximity to specific facilities is another surprising thing that decreases property value. Living near funeral homes, low-performing schools, power plants, and hospitals can reduce property value.

These facilities bring noise pollution to neighborhoods, which disturbs residents. For example, the trucks and equipment from construction businesses can make plenty of noise, even at night.

Furthermore, proximity to facilities can overcrowd areas. Homes near schools experience an influx in weekday traffic, deterring potential buyers who are seeking quiet neighborhoods.

Exaggerated Home Décor

Although you may love your quirky wallpaper or colorful carpet, others could find it unattractive. Exaggerated home décor deters buyers because they can’t imagine themselves living on the property. Simply put, they see your style and taste rather than envisioning their aesthetic. Stick with simplicity in every room as you prepare to sell.

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