If you are contemplating selling your home, you want to take every step to get the best price. Many factors can raise or lower a home’s value. You might think that some home improvements are big pluses for your property. However, some luxury features can actually decrease your selling price. Here is a look at a few surprising things that can reduce property values.
For certain properties, a home swimming pool is an ideal amenity in hot climates. However, there are places where a pool can make your home value take a dip. In-ground pools are convenient, but they need constant maintenance. Some buyers don’t want a home that requires additional care and money, especially if they are looking to downsize or simplify their lives. Pools need expensive pieces of equipment to operate, and the replacement components can be costly. Safety is another concern for pools. Buyers with young children may shy away from purchasing a home with a pool.
Limited Garage Space
Many new buyers want to have a place to protect their vehicles. A garage is a perfect spot for your car, but it also gives you more room to store your extra belongings. Since many buyers own two or more vehicles, single car garages have less demand on the real estate market. For those homes without a garage, many buyers do not want the hassle of finding a place to keep their cars protected from the elements. If you have a single garage or limited parking options, your home value could decrease since it will not appeal to some buyers.
Bad Home Location
Homes in a cul-de-sac do not fetch a high price on the real estate marketplace. Cul-de-sacs are part of a safe neighborhood design, but you have the chance that more traffic will drive past your home. Lost drivers will use the cul-de-sac as they make a turn around the neighborhood. That factor is also the reason some homes at intersections have lower values. Many home hunters want to purchase a home in a quiet area without disruptive traffic issues.
Corner properties are not a hot item for buyers. While these lots are larger than a standard one, there are some downsides. Homes on corner lots often have traffic on both sides of the building. Most of the time, these properties have two sets of sidewalks. With that, it means more work to care for the landscape.
Sloped lot homes can be difficult to sell for realtors. With steep slopes, lawn care maintenance is often an issue. When tackling some chores on an incline, those activities can be difficult to complete or lead to an accident. Depending on your home’s position, these lots might have problems with drainage or water runoff. With these types of properties, older buyers don’t want to deal with those issues. Younger families also prefer other types of homes. Slopes are fine for sledding, but many buyers want a flat yard to prevent any property accidents.
Multi-story homes can give a buyer more square footage, but many people are not buying these homes. Families do not want homes with stairs that could pose a safety risk for their children. However, the news is not all bad for these types of homes. If the bathroom and bedroom are on the main floor, they tend to have a higher resale value than those without these features.
For many parents, they want to raise their family in a community that has good schools. A great school district is one of the top priorities for many buyers. If you live near a low-performing school, then it can drive down your home value. Your home might only be able to attract buyers without children.
Everyone wants a well-maintained yard. If you have an unruly space, you could be driving away any potential bids. Many buyers avoid homes with large trees. As the tree matures, the root system can damage the home’s foundation. In addition to that, a towering tree can cause damage to the roof during a storm. You can always trim back those larger branches or remove the trees from the yard. Any large trees should be at least 20 feet away from the home’s foundation.
The appearance of your home’s exterior can raise or lower your property values. When someone is checking out your home, you want to make a great impression. Any peeling, cracked, or faded paint is bound to drive away buyers. You also want to keep your home in a neutral tone, such as cream, white, beige, or gray. Buyers are looking for homes that don’t require much maintenance when they step through that front door.
Old windows, siding, and roofing can make your home look dated and lower the value. Unlike most of these issues, you can easily fix these problems with your home. Before you sell, you should replace any of these old components and materials. You can even switch those energy-draining windows with new models. This can help you save money on your energy bills as you raise the value of your home. A new roof is another excellent way to lower your bills and boost your property value. With these home improvement projects, your home stands out and attracts a better price on the real estate market.
Boost Your Home’s Value With Some Help
If your home has one of these issues, you may have to lower your price to sell it. However, some of these issues can be fixed with help from a reputable construction company. At RGB Construction, we can help improve the look of your home. From those drab exteriors to damaged roofs, our team will work hard to give you the best-looking house in the neighborhood. We can find energy-saving solutions that many buyers want in a new home. You can schedule a consultation by calling the office at 856-264-9093. We will be happy to help you find the right solutions for your home.