There are plenty of things that you can do to elevate your home. On the other hand, there are certain factors that will only serve to dampen the value of your home. Knowing the difference will help to give you a competitive edge when the time comes to list your home in our ever-changing real estate market. Here are 10 things that will decrease the value of your home:
- Botched DIY Projects
It’s best to hire a professional when doing major home improvement projects as failing to do so could lead to a less than satisfactory result. For example, if you decide to build your own deck but the railing is uneven, it will not go unnoticed by future buyers.
- Neglecting Repairs
It’s important to stay on top of routine maintenance, such as giving your homes exterior a fresh coat of paint when needed or fixing a leaky faucet. Structural maintenance, like replacing an old or damaged roof, is especially important as failing to do so will send potential buyers away.
- Unpleasant Smells
Foul odors will absolutely prevent your home from selling. These may include mold, cigarette smoke or pet urine. Instead of masking the smell with air fresheners or scented candles, try figuring out where it’s coming from and getting rid of it.
- Neighborhood Conditions
Before even stepping foot in your home, a buyer is going to notice the neighborhood that you live in. Are the homes kept up? Does your next-door neighbor collect junk in their yard? Do you live close to a train track? These factors may result in your home sitting on the market longer.
- Unfavorable School District
Now more than ever, buyers are concerned with school districts. Parents especially are looking to move into neighborhoods with satisfactory schools. If your home sits in a less than favorable school district, it will appeal to less potential buyers.
Before you list your home for sale, it’s super important to spend time decluttering. Put away items that you don’t use every day or start a donation bin for things that you no longer need. Along with hiring a home stager and cleaning in between showings, decluttering will help to make your home its most presentable.
- Old Carpeting
Carpeting that is old and worn out should be replaced. If replacing worn out carpeting is not in your budget, consider having it professionally cleaned before listing your home for sale.
- Building Without A Permit
Building without a permit should be avoided at all costs because it makes home buyers weary. Most buyers will want to avoid paying extra money to bring the updates up to code.
- Unnecessary Upgrades
Not all upgrades add to your home’s value. For example, projects such as converting your garage or building a swimming pool rarely add to the value of your home at all. Better to save your money and put it toward projects that elevate your home.
- Lack of curb appeal
Other than the neighborhood in which you reside, curb appeal is the first thing that potential buyers will notice about your home. Failing to mow the lawn, pull weeds, or touch up the exterior paint may result in low offers.
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