Home value can quickly be eroded by any of the seven factors. Whether you live in a house or apartment these common factors affect your home value so consider the points mention below with great care. Even if you live in an apartment, there is a board or management company your HOA or maintenance fee give you a say in the matter so make your preference known when asked.
1. Plants used in landscaping
Your selection can come to hurt the home value down the line. Understand the future of a plant before placing in your yard. Ask “Will the roots crack the pavement or get into the septic tank?” “Will this create any future maintenance issue to the home?” Essentially find out the nature of the plant in its mature state and based on proximity to house is this a best choice. You may not own the house by the time that happens but you still want to think of the plants future in relation to the home and leave your mark in a positive way.
2. Ignoring your entryway
As a Real Estate Broker I’m baffled by the extent of this neglect whether it’s a house or apartment. The entryway is the first experience the homebuyer makes with your home, make sure it’s the right one. Look and feel is everything:
- the sound of the doorbell
- does the doorbell work
- the locks on the door, are they functioning correctly, do they appear to be secure
- make sure the front door is in the best condition possible. No dents, scratches, does it close properly
3. Paint color
Choosing paint color for the exterior and interior of the home can decrease the home value. Yes, it’s easy to paint but many homebuyers aren’t thinking that way when they put an offer on the home. For exterior you should select a color that’s standard to the neighborhood or community in general. If you want to be unique with the exterior of your home choose a colorful front door or unique mailbox. For interior colors neutral is always best when looking to sell the property. When you move in it’s yours I get it paint the rooms whatever color you want. When selling know you have to let that part of the room go to not decrease home value. In short, when you are about to sell if you chose colors that were “you” follow the advise of your realtor and go back to basics.
When placing the home on the market if you do not want to do it then pay someone to thoroughly clean the home from top to bottom, every corner every surface! Pay attention to the windows, grout, oven, and floors. While you are at it, if the place is cluttered, then declutter at the same time. The cleanliness of the home can decrease home value.
5. Neglecting floors
No matter where the homebuyer goes in the home they are walking on your floor to get there. If they are not in the best shape possible it will be notice and decrease the home value. This goes for hardwood or carpeted floors.
6. Assuming a ROI for expensive materials
Just because it’s expensive does not mean you will recoup that money when you sell your home. Some things you buy for the home is for you and only you. It pains me to hear how much nonessential appliances or materials cost in the home thinking it affects home value.
7. Keeping old appliances
To see a home that is well cared for only to sports old appliances places the homes on the back burner of homebuyers and decrease the home value. Even if the appliances are well maintained they are still a decreasing home value since the homebuyer will take off more value than it would for you to replace them.