6 Things That Will Decrease Your Property Value

things that decrease property value

things that decrease property value

Reasons Why You Might Have a Tough Time Selling Your Home

When you feel it is time to sell your home, of course one of your main goals is to get as close to the asking price as possible, hopefully even more. Just like you can do things to improve the value of your house such as renovations, there are also things that can decrease the value of your property. You may not be able to control some of these factors, but for the ones that you can, try to stay clear of them. And to help you avoid a decreased price on your home, here are 6 Things That Will Decrease Your Property Value.

renting a home

1. Renters

You’ll always take better care of something when it belongs to you, as opposed to something that you borrow from your friend. The same goes for property, you will take much better care of your home when you an owner as opposed to a renter. If you own a property that is being rented by someone, they will not show the place the same care you would, and it may be a turn off to buyers. Your tenants might also fail to tell you about something around the house that needs to be fixed so they can save a couple dollars in there pockets.

bad neighbors

2. Bad Neighbors

No one wants to live next to mean or messy people. If you have either of those type of people as a neighbor, you may have a tough time selling your home. Your neighbors can ultimately decide how much you’re going to be able to get for your home, so if you have a chance to have a good relationship with them, don’t hesitate, you don’t want your neighbors to be the deciding factor on how much you get for your home.

backyard swimming pool

3. Pool

Everyone would love to have a swimming pool in their backyard, there is nothing like taking a nice plunge in to a pool when the hot sun is beaming down on you. A pool can also cause buyers to look the other way simply because it may cost them too much to maintain the pool, and a pool is also a liability for families that have small children. The upkeep of your swimming pool could be a huge turn-off to potential buyers and it is something that will decrease your property value.

broken plumbing

4. Major Upgrades

If you haven’t taken care of major upgrades to your home that need to be done, good luck trying to sell your home. If you think you will be able to sell your house for a great price without taking care of something significant such as a plumbing issue or a mold problem, or even an issue with the roof, think again. Not many people want to buy a house in which they have to move in to and spend a lot of cash to fix things they need to make the house a home. Try to get these major upgrades done before you put your house on the market, they can be used as selling points to potential buyers.

purple house

5. Too Many Custom Renovations

Of course you want your home to be an extension of your personality and one way of doing that is with custom renovations to different parts of your home. Now that your personality is shining through your home, it may be difficult for you to now sell your house to someone who doesn’t share the same personality as you. Just because purple is your favorite color, doesn’t mean the next person who wants to move in to the house wants to be known to the neighbors as ” the purple house family”. Try to stay with neutral colors if you are thinking about painting your house, a color that will allow you to blend in with the rest of the neighborhood.

kids in class

6. School District

Most families looking to purchase a new home usually have children, and their children will definitely play a big factor in the home buying process. Parents want their kids to go to a good school, and if there isn’t a good school their child is able to attend because of where they live, chances are that it will decrease your property value, and your house will be out of their selection process. This is not something that you can really control as a home owner, but it is definitely something you should keep in mind. Check out our post on the 5 Best Cities to Raise a Family in North Carolina.

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