A home is an investment. And, like a typical investment, its value can increase over time. There are many things involved when it comes to increasing your home’s value. From updating home finishes to freshening up your curb appeal and renovating your kitchen and bathroom, all these can add thousands of dollars to your home value.
But, while you are focused on things that can increase your home value, you shouldn’t lose sight of those that can plummet it. Here are 5 common things that can drag the value of your home.
Terrible home improvement job
Yes, home improvement projects can boost the value of your home. However, this only applies to those that are done right. If you decide to DIY your home improvement and botch the process, the value of your home will plummet and not rise. You’ll need to contact a professional to correct the mistake and turn the tide.
Plus, if you make your home improvements without adhering to the necessary building permits, you’ll violate the code. The result? Your insurance claims will be affected—the same as your home value.
Old Bathroom and Kitchen
How old is your kitchen? Does it give you 1960s vibes?
If your kitchen features designs and accessories common with old kitchens, your buyers won’t find it worth their money. The average buyer won’t accept an old kitchen, regardless of how functional it is. The same applies to your bathroom.
Is your bathroom as old as the hills? Does it have old faucets, plumbing systems, tiles, and a bathtub? It may be a turn-off for potential buyers. Those interested will likely want to buy it for a pittance. This is because they often factor in the cost of a remodel, which can be expensive.
So always try to renovate your bathroom and kitchen to increase the value of your home.
Terrible or ugly landscaping
A home’s curb appeal is an essential factor buyer consider before agreeing to or tabling an offer. So if your home appears like the Amazon Basin, or if it requires you to mow your way to your front door, you may want to take a good look at your landscaping.
Having a house overrun by trees, bushes and weeds aren’t only off-putting, but it can also lead to pest infestation, which, if left unattended to, can damage your house. Overgrown trees and bushes can also present fire hazards in some areas. Plus, ugly landscaping, such as an unstable dead tree, could be an accident risk.
Ensure you contact pest control if you observe signs of pest infestation in your landscape. Leading pest control provider – terminix offers comprehensive pest control services. They have the expertise, experience, and tools required to rid pests from your home.
Errors made during the construction or renovation of your home can sink your home value, especially when it boils down to the final appraisal. These mistakes can result from many factors, one of which is trying too hard to save money. The mistake can also arise from trying to save time during a build, botch renovation or repair, etc.
Shoddy work doesn’t only affect the quality of your home. It also drags its value. And to correct the mistake, potential buyers will factor in the costs for the repair, thus reducing the home’s list price.
Common examples of shoddy workmanship are:
- Crooked tiles
- Warped flooring
- Inadequate wiring
- Awkward home additions
- Gaps between flooring and walls or threshold
- Uneven decking and railings
Is there a nightclub in your neighborhood? What about a sawmill service company? Do you have noisy neighbors? Or are there sources of noise pollution stationed at every corner of your neighborhood?
No one loves noise pollution. So if your home is situated in the center of noise pollution, buyers will either offer less or decide not to go ahead with the purchase.
A weak or damaged roof
Is your roof showing signs of weakness? Or is it damaged? Having a durable roof over your head protecting your home accessories and items can make a massive difference in the overall value of your property.
Watch for signs like physical damage, worn-out shingles, and leaks. If you notice any of these signs, get them fixed ASAP. If you decide to linger, the issue may worsen. A leaking roof has many effects. First, it can cause your home to lose hot and cool air, leading to increased utility bills. Plus, it can also result in mold and mildew growth.
If left unchecked, a leaky roof can be an entry point for pests. So ensure you conduct inspections and address any issues you may have with your roof.
There are no two ways about it; if you are willing to boost the value of your home, you’ll need to make it appealing, inviting, and eye-catching. Anything other than that, and you’ll have no choice but to sell your home for peanuts, regardless of your valuation.