What Hurts the Value of a Home? Things to Address Now
As a homeowner, your biggest goal is to sell your house at the best price when the time comes. Many factors influence the value of a home and homeowners should always be aware of them.
These are factors that are often uncontrollable like market conditions, the economy, and interest rates, but there are a few that homeowners can manage themselves. Simple maintenance work, for example, can boost the price of a home.
Here are a few more things you as a homeowner can address when selling your house:
1. DIY projects gone wrong
Home improvement is a great way to boost the value of your house, unless you don't really know what you are doing.
A botched DIY job can reduce the value of your home and it can turn buyers away. As exciting as it might feel, a DIY project is not for everyone. It doesn't matter what you want to repair or add to the house, if you are unsure, rather let the professionals do it.
This goes for anything from tiling to painting to bathroom remodeling to electrical wiring. Some jobs just aren't DIY-able.
2. Lack of curb appeal
Buyers see the exterior of your house before they even see the structure, which is why one's curb appeal is so important.
It creates a first impression and we all know how lasting those can be.
You can boost your curb appeal by making a few minor adjustments like updating the exterior paint and lighting, removing and replacing an old fence, hiring a professional landscaper, washing the windows and the siding, and replacing your front door.
These are generally inexpensive ways of ensuring that your house looks great from the moment a buyer walks into the moment they walk out.
3. Unsightly interior paint
Painting on the inside of the house is just as important as painting on the outside of the house.
If the interior paint is chipped or peeling off then it creates a poor impression.
Similarly, bold colours and patterns can also be a turn-off for buyers. Not everyone likes the lime green theme you designed for the living room. Make sure that you repaint the walls with neutral colours so that it is easier on the eye, and more appealing to the buyer.
Incorporate colour with accent pieces and other decorative items.
4. Lack of upkeep
It is very easy to spot a house that hasn't been maintained. These homes are unloved and unkempt, and also unwanted by potential buyers.
Regular maintenance and care are needed to keep the house in great condition.
Buyers are also going to push for negotiation if they see any repairs that have to be made, and this can bring your asking price down. If something breaks, try to tend to it immediately. If you don't know how to do it, rather get a professional out to do it. This will prevent any issues from getting completely out of hand.
5. Excessive clutter
This seems like an easy thing to sort out but it is going to require some serious effort.
Clutter builds up every day and homeowners often look past it as it becomes part of their daily lives.
To the buyer, however, it will definitely seem like a mess. When decluttering, make sure you throw out anything you haven't used in the past few months. If you are unsure whether you need it or not, hire a storage unit in the meantime. As soon as you have sold your house, you can use it in your new home.
It is very easy to increase the value of your home by doing these few things and your property won't sit on the market for very long if it looks great.