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Things That Decrease the Value of Your Home

A home is an incredibly large investment for many of us – especially in today’s home market. However, many of us are not aware of the value of our home and things that can increase or decrease it.

To help you better understand, we have created a list of concerns that may affect the value of your home. So, without further ado, here are 10 things that can reduce the value of your home.

10 things that reduce the value of your home

This is by no means an exhaustive list of items that can reduce the value of a property. This list is a collection of some of the most common (as well as commonly overlooked) concerns.

1. Exterior Aesthetics

When you go to someone’s house the first thing you see is the outside. This can be divided into two parts: the yard and the exterior paint. In the housing market, this combination is called “limited appeal”. This is the first impression that someone who wants to buy your home will have.

First impressions are vital in many aspects of life – from buying a home to job interviews to making new friends. Because of this, it is extremely important to make sure that your home has a good reputation.

Check for chips or other damage to the exterior color of your home and make sure your landscaping is also pleasing and low maintenance. Not all shoppers will want to invest their time in caring for their backyard – no matter how beautiful it is.

2. Internal Aesthetics

Once your potential buyers pass through the outside of your home, they will immediately begin to enter. Make sure your interior is well lit and free of cobwebs and dust. When people walk in an area with low light and dust they will immediately feel less welcome.

Bathrooms

Neglected bathrooms can be an immediate disaster for many people, but so are over-renovated bathrooms. This is because often renovations result in a very personalized product that may not fit the style of others.

Kitchens

Likewise, very old kitchens can fill the mind of a potential buyer with tons of renovations they should do, but an extremely spacious and fancy kitchen can intimidate some buyers – especially if they do not cook often.

Interior painting

A new paint is often a good idea when you want to sell your home, but be sure to avoid very expressive colors. While some buyers may love it, many want to visualize the house as it wants to look and walls with strange colors can make it more difficult.

Finally, while your home is your place to live and relax, if it is full of your belongings and photos of your family, many potential buyers will find it difficult to imagine it as their own. Before a show, make sure you arrange and store some things so that others can more easily imagine decorating it the way they want.

3. The Neighbors

While you can not control your neighbors, they can in a sense really control the value of your home. Having strong, messy or bad neighbors can reduce the value of your home.

If a potential buyer can see a lack of attractiveness in your neighbors’ homes, it is likely to either offer a lower price for your home or offer absolutely nothing at all.

4. Schools

Whether potential buyers have (or plan to have) young children or not, the quality of the schools can dramatically affect their decision to buy your home or not. It is important to research both primary and secondary schools in your area to determine how they will affect the value of your home.

Local schools that operate well and have a good reputation are likely to increase the overall value of your home. Negative schools represent the community and can reduce the value of your home.

5. Crime rate

New families want to know that they are moving to a safe neighborhood. It is important to know the crime rate in your neighborhood. We know that the crime rate in your neighborhood is not under your control. But it is important to know what can affect the value of your home.

6. Major Repairs

If your home needs major repairs (or many major repairs), it is usually best to do these repairs before you are selling your house. This is because major repairs – such as roof leaks, plumbing problems, AC or heating malfunctions or mold problems – will certainly be a concern for any prospective buyer.

This will often lead to a dramatic reduction in the price you are asking for and may lead many buyers to simply not offer if your home is too “up for repair”.

7. City landfills and power stations

The presence of landfills and power stations is enough to discourage buyers from buying a property on this site. Because of the pollution and the potential dangers of EMF radiation near these areas, many people will immediately dispose of property near them.

8. Confiscated Properties

Excluded properties near your home can easily make the site less welcoming. These properties can dramatically reduce the value of your home – especially if they are very close.

9. Similar houses for sale

This is just a matter of supply and demand. Many available homes that are similar to yours in your area will reduce the demand for your property. This will reduce the value of your home. Check what other homes in your area are for sale and generate your listing price according to the price range that is realistic in your area.

10. Noise

Many people do not like to live in noisy areas – especially families with children and the elderly looking for a new home. Because of this, living in a noisy area – such as near train lines, busy roads, freeways or airports – can be an immediate disruption for many potential buyers.

conclusion

We hope this list of 10 things that can reduce the value of your home will help you determine the overall value of your home more accurately – whether you want to sell it, buy a new home or just be curious. For more information on homes and the Fresno area, see us blog!

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