Factors that Can Devalue a Home

March 28, 2018
Factors that can devalue a home

It goes without saying that for most of us, our home is the biggest investment we will ever make.  We often think about ways to improve are house, planning and strategizing these upgrades. We want to make our house better. While this takes up our thoughts, without realizing it, there are factors that exist that can actually reduce the value of a house.  The following are factors or home conditions that can devalue our home:

  • Lack of /bad curb appeal. Curb appeal is defined as the attractiveness of the exterior of a residential or commercial, as view by the street.  In other words, the impression you get when you drive by the house, after seeing it’s listing. Has your house been painted in the last couple of years or can it use a new coat?  Do you have an overgrown front yard, with trees that need pruning if not outright removal? As a homeowner, you may not notice what you consider a minor defect, but today’s homebuyers will zoom in on this immediately.    If you don’t want to see your asking price drop, make these repairs.
  • Forgetting to depersonalize.  When potential buyers are touring your home, they are imagining themselves as the new owner.  Any reminder of an existing owner, can also be described as a home selling turn off. We know you love your kids, but brightly coloured kid’s room including their name in big block letters (along with their artwork) can detract from the room itself, extending to the homes value.  
  • Uninspiring kitchen or bathroom aesthetics.  Let’s be clear that every room should have its aesthetics and visual appeal on point.  However, there is something about a kitchen or bathroom that makes homebuyers take out the magnifier.  The kitchen is one of the most-used rooms of the house, where we all go to quickly unwind and prepare meals of the day, buyers are going to pay particular close attention..  The same goes for bathroom. These are no longer just functional rooms, they are a places to unwind and relax, making these rooms a priority for buyers. If your kitchen is cluttered and doesn’t have enough workable space, if your bathroom can use retiling, be proactive and makes plans to fix it, heightening the visual appeal.  
  • Odors.  Sight isn’t the only sense that people use when checking out a house. Carpets and furniture, which can potentially have absorbed years of odors, can be fostering a smell.  Make sure to steam clean the carpets and even upholstery before you hang your “for sale” sign. Pet owners, consider an appointment with a duct-cleaning service as there can be years of pet hair harbouring in the vents, adding to an odor.  

To learn more about Mid-Peninsula real estate and effectively selling your home, contact Helen and Brad Homes.  Helen and Brad Miller are your experts on Bay Area Living.  We want you to be informed about the best homes available and we will see that you have many quality choices. Call us: (650) 400-1317.

Increase home value

Sources:  

http://www.businessinsider.com/factors-lower-home-value-2016-11

https://www.finder.com.au/factors-that-may-devalue-your-property