A lot of factors work in the evaluation of a house. The most important ones are its location, proximity to schools and other essential services, and the house area. We all consider all these factors, including the budget, when buying a home. There are other factors that you didn’t know will hurt your home value. Some projects increase resale value in a house, while some projects may decrease the resale value. Here are ten items that you must be aware of which will upset your home resale value.
It is a proven fact that you have a higher chance of getting in conflict with your neighbors than the rest of the world. If you have a rough neighborhood with junkyards or rude people, it will reduce your house value.
According to a national survey, people prefer to live in a locality with well-educated people. Most people do not like to live in a locality with sexual offenses, theft, or neighborhood brawls.
When deciding upon a home, people are very particular about the kitchen. Most potential buyers want a spacious kitchen where that can do modifications as per their requirements. If you have heavy installations in your kitchen, it will devalue it.
Some renovations also create a positive impact, such as new sparkling clean countertops and sinks. If the kitchen looks spacious with clean attachments, people do consider buying these houses.
Poor Paint Quality
The exterior of your house creates the first impression. Cracked walls with peeling and faded paints will reduce its value big time. Spending a little on colors and borders will increase its value big time.
Colors should be neutral and not very bright. Most buyers prefer subtle shades like white, cream, beige, or gray. Next time you plan to do up the paint, choose your colors carefully.
Proximity To Facilities
It is a proven fact we all prefer essential facilities nearby. No one likes to travel 50 miles for schools, hospitals, or clubs. In addition, people want to find a house as close as possible to their offices. Statistics show that an average American travels daily for 50 minutes to reach the workplace.
Schools also play an essential role in the value of the property. Houses near top schools have a good deal. However, if your home is near a noisy street with too much traffic, it will not fetch a good value.
The bathroom is the next thing after the kitchen that people inspect in detail. An upgraded bathroom can increase the value, but too many alterations and additions will not pay off well.
If your luxury tub occupies too much space, people view it as a waste of space. Overly luxury bathrooms will surely hurt your house value.
A garage is meant for keeping the car. Modifying your garage into an office, playroom, or gym will undoubtedly lower the resale value of your house. Most potential buyers are looking for a garage to park their car and may not be very happy with modifications.
A Carpeted House
Wall to wall carpet may be your perfect way to keep a house, but others may not like the idea. Moreover, rugs can be inexpensive to do up a home, but most buyers look for hardwood surfaces. A wooden floor will surely increase your house’s resale value.
Carpets harbor germs and dust. Most people are worried about infections and do not prefer a carpeted house. If they have to do up the entire flooring, they offer a lower value.
An Old Roof
Most buyers are wary of the old roof as it may leak or pose problems after the sale. Most real estate agents feel an old roof is viewed as a maintenance issue. A remodeled roof or a new roof done before the deal is a good idea.
Surveys on the resale value of houses show that remodeled roofs give an excellent price to a property. It has been estimated that a roof newly done up can increase the house’s value by as much as 10%.
Removing Of Closets
Removing closets has adverse consequences on the value of the house. If you are planning to do it, think twice. Removing the cabinet will make a home much harder to sell or will fetch a low value. Potential buyers always inspect the house before purchase and count the number of closets.
The Yard area is one of the foremost things that accounts for resale value. The yard needs to be of an optimized size, neither too big nor too small. Bigger backyards and a smaller backyard will lower the value of the property.
If your yard will have a poor impression, it is unlikely the interiors will compensate. People may be looking for an area that requires low maintenance.
Selling a house can be even more challenging than buying it. Always remember different people have different tastes, and a single opinion may not work for all. The requirements of a house vary according to the geographical location and size of the family. We hope applying these ten tips will not hurt the value of your home.