6 Things That Can Hurt The Property Value Of Your Home, But Are Fixable
There are a number of things that can negatively affect the value of your property, and unfortunately, there are a handful of issues that you can’t change yourself such as neighborhood conditions, nearby construction, etc. But, the good news is- the top reasons for a decrease in property values can be taken care of by you or a trusted professional. Here are the top 6 issues that can lower a home’s market value:
1. Neglected maintenance
A lack of proper home care can cause your property value to plummet. Small issues, like a leaky faucet, can snowball into larger issues in the blink of an eye. As a homeowner, before putting your home on the market, it may save you valuable time to check for things such as HVAC system issues, termite damage, foundational damage, leaky plumbing, and damaged gutters before listing. Being able to tell potential buyers upfront that your home is in good condition will save you trouble and headaches in the long run.
2. Projects that aren’t properly done, or up to code
Taking the time to make home repairs or engage in some DIY projects are great… when done properly. Many homeowners believe that it’s both time-saving and money-saving to do some projects on their own, but hiring a trusted professional will guarantee that the job is done properly and up to code. Though it may be a little more out of pocket, hiring an expert for home update projects will make sure the fix is a one-and-done situation.
3. Outdated kitchens or bathrooms
Extremely outdated spaces will become an eyesore and be the part of your home that stands out… in a bad way. Oftentimes, homeowners will pour all of their money into one space, like upgrading all the kitchen appliances, or getting new countertops and cabinets. Yet, they’ll leave the guest bath adorned with 70’s wallpaper and a green bathtub to match. Unfortunately, the beautiful kitchen will easily be forgotten in comparison to that bathroom. If you are limited on funds for home improvement, try your best to divide funds evenly between projects. 70’s wallpaper won’t stand out as much when it’s next to a modern bathtub and toilet.
4. Improper workmanship
When your home is first built, the quality of the work can affect you in the long run. Improper workmanship will cost you money later, whether the house is new to you or not. Unfortunately, after it’s done, it’s done… and fixing it will cost more money. But fixing those pesky issues your home has always had ahead of time, like warped flooring, crooked tiles, or flooring gaps, will make your home more appealing to potential buyers.
5. Bad or outdated landscaping
Just like the inside of your home, an outdated outdoor space will bring the value of your home down. If their online browsing takes them off the screen and on an in-person home tour, the outside of your home will be the first impression buyers get. Outdated exterior features like window frames, your front door, or outdoor lighting will deter buyers. Putting some extra dollars into upgrading those items will go a long way. Your property will also benefit from tidying up. Keep your hedges trimmed back, sweep up fallen leaves, pull weeds, and take the time to plant some flowers if fitting for the season. A well-kept yard will show the buyers what is to come inside.
6. Damaged roofing
A bigger item, but a very important one to keep up with, is your roof. The roofing of your home is just as important as the walls and structure of it and keeps your home protected from the elements of nature. Before listing, take time to double-check for any leaks, physical damage, or worn-out roofing shingles. Replacing a roof is no cheap or simple task, and the buyer will commonly address this when inquiring about the home. Having a roofing inspection done beforehand will give both you and your potential buyers peace of mind that the roof is sufficient.