When it comes to selling your home, several factors determine how much it is worth. The location, size, and the number of bedrooms and bathrooms are the top things considered. Many other aspects factor into the worth of your home, however, and typically, it’s surprising things decreasing the value of your home.
While most of these factors are hard to change, there are some things that you can do to make sure you get the best offer. But how many things about your home are actively decreasing its value?
A few DIY projects left incomplete may have some impact but is unlikely to pay too high a cost when it comes to you getting your asking price. However, letting your home fall into a state of disrepair will certainly decrease its potential value.
While most people looking for a new home will have varying tastes, a home that offers flexibility to suit a versatile population will be more in demand than a home designed only for one particular lifestyle.
So what are some of the most commonly overlooked things that may be devaluing your home? Keep reading to find out.
Surprising Things Decreasing the Value of Your Home
The Condition of The Neighborhood
Many aspects in a neighborhood can result in lower or fewer offers. Living close by to an airport, a major road, or train tracks can result in noise pollution, which could set to devalue your home.
Additionally, power plants and landfills both negatively affect the value of a home. It could be that since you moved in, features such as unsightly cell phone towers have been erected in the area. Or, a new business with less than desirable clientele has opened nearby. The same if your street is renowned for criminal activity. While times change along with neighborhoods, the value of your property is likely to suffer if your area has a bad reputation.
Unfortunately, there is little that you can do. After all, a bad neighborhood is likely to be the reason you wanted to move in the first place. It is up to your realtor to point out the positives of your area to ensure you get a high offer for your home. You should still document any neighborhood complaints and bring law enforcement into the picture when trying to deal with them, though.
Being the Best Looking House On The Worst Looking Street
You’ve taken time and pride in making sure your home has the best curb appeal, and it can make photos of your home seem appealing to potential buyers. However, when it comes to potential buyers viewing the house, they have to drive down your street. This drive might not be good news if your neighbors don’t care about how their homes look. Some issues could be excessive trash on the front lawn, loud pets, or broken windows or fences.
Your neighbor’s colorblindness when it comes to the appearance of their homes will do more than be an eyesore for you as you see it every day. That same eyesore can put off potential buyers and pose a risk of decreasing the value of your home.
Sadly, there’s not much that you can do about these issues. Aside from giving your neighbor some information about where they can find some new aluminum windows or doing dome DIY fence repairs, it’s best to make the most of what you can when it comes to your home. As much as you’d like to control your neighbors, it just isn’t possible.
You’re Overlooking Some Key Things Inside
Like your neighbors can become blinded by the chaos outside their homes, there may be a few things that you’re overlooking inside your own. When potential buyers take a look inside your home, they’ll quickly judge what they see. You can take care of clutter, overflowing garbage, large amounts of personal photographs, dim lighting, dirty bathrooms, and dust. If you don’t, then you may have problems getting your asking price.
It’s also a great idea to address things such as paintwork. Consider giving your home a refresh. Neutral colors are preferred, as this will help buyers see themselves in the house and determine how they can make their mark on the space. Avoid overly odd colors or wallpaper that seems like hard work to remove. Address anything that seems like a headache to potential buyers instead of selling points.
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Try to look at your home from an outsider’s perspective. What would you think of the space if you were looking at it for the first time? Are you drawn towards the loose flooring or clutter showing a lack of storage? Those issues are likely to be something that potential buyers will notice, too.
You want to create a space that looks warm and inviting but not overly lived in and personal looking. Before you let people in to look around, clean up and store things away. Make sure the house is light and airy. Change any bulbs that are starting to dim, and use odor neutralizers to eliminate any weird smells, too. Create a space for potential buyers to envision themselves in their new space without adding up the costs of all of the work that will need doing before they’d even be ready to move in.
Your Kitchen Has Seen Better Days
The kitchen holds the most value per square foot, so this is one of the most carefully examined rooms during a viewing. Lots of people looking to sell their homes may consider remodeling their entire kitchen. However, unless your kitchen is in an awful state of disrepair, then it might not be worth it- especially if you don’t end up getting the return on your investment that you’d hoped for.
Instead, focus on the specific areas that need attention. Common areas include the sink, countertops, and cabinet doors that surround your current appliances. New modern cabinets and shiny sinks are what draw people in and bring offers.
On the contrary, outdated cabinetry and stained, old countertops can detract from the value of your kitchen. When people buy a new home, they don’t want a reminder of a time you accidentally left a hot pan on your countertop or spilled red wine on the carpets. If you have left any significant marks, then it’s time to erase them ASAP.
Making high-quality improvements in the kitchen can add value to your home. Use highly recommended professionals to get a perfect finish and avoid paying twice to cover mistakes of a former job. Or worse, avoid being offered a significantly lower price for your home.
If you are into DIY, you can paint your cabinets and countertops. Check out my post on how to paint your countertops for a quick, easy, and inexpensive transformation.
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Your Bathroom Has Been Overlooked
Finally, taking care of the bathrooms will ensure you get as much money for your house as possible. Buyers pay close attention to bathrooms to make sure they can get the best deal for their money.
While renovations can help increase the value of your home, going overboard is unlikely to get you a good return. Instead, try sticking to more traditional, neutral designs that will serve you better if you decide to sell.
Avoid using wood for counters and cabinetry as this can rot in areas with a lot of moisture. Stick to neutral colors such as whites, greys, and pale blues. Avoid gimmicky decor such as fish and anchors that can look tacky and make a bathroom look cluttered and dirty.
Pay attention to the bathroom floor, too. Consider installing flooring that is easy to clean and won’t turn into an ice rink when wet feet touch them. Good flooring options for bathrooms are non-slip tiles and waterproof wood panels. Avoid linoleum flooring, which becomes dangerous if it starts to peel off from water exposure. Carpet in bathrooms is another no-go because it poses serious hygiene issues that will put buyers off.
Things That Could Be Decreasing the Value of Your Home
There are certain things about your home that you cannot control, such as the location and your neighbors. However, within your control, there are some surprising things that could be decreasing the value of your home.
Address any issues that you find right away. The sooner you take care of them, the less damage they will do. Plus, when you decide to sell your home, it will be ready to go without requiring major updating.
Other Tips Include:
- Before a viewing, make sure that your home smells inviting and not overwhelming with strong-smelling perfumes and air fresheners. The cliche is having freshly baked bread or brewed coffee going as people enter. These aromas are inviting and help potential buyers imagine themselves in the home.
- Hire professional cleaners to give your home a deep clean when you put your house on the market. You’ll be surprised at how much better a deep clean can make your house look and feel. That way, you’ll only have to keep on top of basic chores before people come to look around.
