There is a ton of literature out there regarding how one can increase property value, but there isn’t much information regarding the things that will lower your property value when it comes time to sell your home.
Here, now, are seven things that will lower your property value when selling your home. You might want to take care of these things before listing your home for sale if you want to get top dollar.
Things that lower your property value #1
Ah, the roof. There is no secret that homebuyers want a good roof that doesn’t need repairs or replacing on a home. If the roof is leaking, it would serve you best to get it repaired before selling your house, rather than making note of it to a potential homebuyer and lowering your asking price.
Remember that this is typically a deal breaker for most homebuyers.
Things that lower your property value #2
Mold, asbestos, and humidity are all concerns of potential homebuyers. If you have an older home, there may be asbestos in your home and it needs to be removed by a professional and you need to have a written document that stipulates that this work has been completed.
Take care of any mold issues, ensuring that there is no black mold by cleaning it with a bleach mixture.
As for humidity; it would serve you best to invest in a dehumidifier, use exhaust fans all the time and crack open the windows.
Things that lower your property value #3
If your kitchen appliances are old and worn down, be aware that homebuyers usually want new appliances and prefer stainless steel because they look great and tend to be more modern and energy efficient.
If you don’t have modern kitchen appliances, then make sure the ones you do have are spic and span and are free from every piece of artwork your 5-year-old has brought home from kindergarten.
Things that lower your property value #4
Okay, so maybe you can’t pick up your home and move to a different neighbourhood with it when selling your property, but you can definitely drive home all the great things that around you.
If there’s a shopping mall five minutes away, if there’s a great bakery down the block, if there’s a soccer field that provides kids with hours of entertainment, make sure to mention these things to potential homebuyers.
Also, it might be worth it to ask your neighbours to clean up any unsightly messes in their area to help you out.
Things that lower your property value #5
The little things
When a homebuyer comes to your home, they want to envision themselves and their furniture moving in comfortably; they don’t want to imagine themselves having to repair a bunch of little things. That means work. And no one wants to pay you so they can start working.
If you have some little things that need repair, a room that needs to be painted, or a cluttered room that should be cleared, do it all before you show your home. Homebuyers want a home that’s move-in ready.
Things that lower your property value #6
A house is the top purchase for most people and a car is the second biggest purchase they tend to make, so it’s up to you to make sure your garage is in good condition.
So long as your garage can comfortably fit one car and perhaps has an area for storage, homebuyers will bite. Your best bet is to keep it as clean and spacious looking as possible.
Things that lower your property value #7
From wallpaper that makes it seem like the walls are dancing to painted walls with dark hues that give off a very Halloween-feel, certain trends that comes and go will not do you any favours when it comes time to sell your home.
In an effort to give homebuyers the opportunity to envision themselves living in your home, decorate with a neutral feel (paint, furniture, keep personal items to a minimum) and suggest things that they can do with the room to transform it and make it their own.
Don’t lower your property value
If you want to get top dollar for your home when you sell it, make sure that your home is in tip-top shape before you show it to potential homebuyers.
Are there any other things that home sellers should be aware of that might hinder their property value? Let them know in the comments below.
If you’re ready to sell your home, visit ComFree today and see how we can help.