Important factors that really reduce the value of your house

Important factors that really reduce the value of your house
4 min read

Nobody ever wants to depreciate their property, but sadly many do because they believe all upgrades increase the value. While improvements like a kitchen makeover, new front door, and a garage extension are some of the finest methods to raise a home's value, there are certain things that will actually diminish it or make it take longer to sell.

Extensive Landscaping

Yes, a front yard with lush landscaping may significantly improve curb appeal. Building beds, putting mulch, and adding hardscape are labor-intensive tasks that don't truly increase the value of your house. Neither do planting trees, shrubs, and flowers.

Additionally, prospective buyers may think that expensive landscaping is something that they would need to spend time and money maintaining when they would prefer to just mow a grass and be done with it.

A pool

A pool will not be viewed as an asset by many buyers, but rather as a burden. They could also be leery of the upkeep and continuing expenses, which might prevent them from wanting to make an offer.

A pool, however, can really be a selling factor in the appropriate circumstances. But the crucial point is that it must occur in the proper circumstances. According to House logic, a pool might increase the value of your property by up to 7% in areas where you can swim for the majority of the year or in communities where most homes have pools.

Its surroundings

According to a recent National Association of Realtors (NAR) research, moving is frequently motivated by the desire to live closer to places of employment, educational institutions, or public transit. In addition, the following elements may make a community desirable enough to raise the value of a home:

  • vicinity to grocery stores, retail establishments, and entertainment
  • access to major roads and public transportation
  • parking readily available
  • The quality of the local schools
  • The prevalence of crime

A home's value may be negatively impacted by the area if it is near an airport or a busy road, for example. If the location doesn't suit the buyer's lifestyle, a property that appears great on paper might not be that perfect after all.

Carpeting Everywhere

Reports suggested that, 54% of prospective home buyers are willing to spend more money on a property with hardwood floors. The reason for this may be that carpet doesn't do a good job of concealing damage, is quickly soiled, and contains a lot of dirt and dust, all of which are disadvantages for those who suffer from allergies. Additionally, if your property has carpet, make sure it's a colour and texture that the majority of people can agree on. Otherwise, you risk turning off potential buyers.

Changing a bedroom into an office

Many homeowners want to establish a separate workstation in their homes as remote employment becomes more prevalent. But if you want to make temporary alterations, leave the bedrooms as bedrooms rather than removing the closet and installing a built-in workstation and bookshelves. A home's value might really decrease by 10% if a bedroom is lost.

The Age and Condition of the House

A house's age might reduce its value, particularly if it requires maintenance. Purchasing a fixer-upper might result in a variety of extra expenses. There are aesthetic flaws like an outdated kitchen or a less-than-modern floor layout, and there are practical ones like faults with the roof or plumbing of the house.

According to a 2019 remodeling study by NAR, replacing a roof may cost over $7,000, while replacing an HVAC system may cost a homeowner over $8,000 in total. In general, older homes cost more to insure as well. Homes older than 30 years often have homeowner’s insurance premiums that are 75% higher.

Read More: Buying Home in New Metro City Gujar Khan

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