Are You Devaluing Your Home?
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Many people that sell their home want to increase the value so they can get as much out of the home sale is possible. But are many of these home sellers really devaluing their home rather than increasing the value and are not even aware of it? According to an article on how stuff Works.com, here are some of the things that we agree can devalue your home.
- Neighborhood conditions. Although these are things that you may not be able to control, the cost of your home can be determined on the condition of your neighbors. Apart from foreclosures, “many other aspects of the neighborhood can detract from how much buyers will be willing to offer. If you live by an airport or train tracks, highway or athletic complex, etc., could make buyers wary. Do you have a cell phone tower located nearby or is the home located in a part of town known for criminal activity? These may be difficult things to change that you can attempt to negotiate. Talk with your neighbors if it’s a family or having the problem with and not necessarily the location. The honest with buyers and let them know up front, some of the issues that may bother them in the future.
- Poor school districts. If the schools in your area are not healthy and flourishing, it could be driving down the value of your home. In this case you’ll have to appeal to buyers without small children. However, buyers may have future resale market in mind so even if they don’t have children themselves, they may consider the school districts purely for resale value for themselves.
- Poor curb appeal. If caring for your yard is not one of your priorities, it will make your house harder to sell. The first impression can literally make or break a sale. Broken down outbuildings, overgrown yards and shrubs, untrimmed trees and lots of weeds certainly does not scream ‘move-in ready’. You may need to hire a landscaper at least once or twice while your home is on the market, especially if this is not your forte. Speaking of curb appeal, this may mean more than simply the landscaping; check the paint color of the house as well as the trim and the condition. If buyers see peeling paint, shoddy workmanship, or missing slats of wood, they may be very hesitant as to venture in any further.
- A Shoddy Kitchen. “Once a potential homebuyer gets inside, one of the rooms he or she will examine those carefully if the kitchen.” Many home sellers feel that it’s a good idea to remodel the kitchen but personalizing a remodel to much or going to high-end will not give you the return you’re looking for. “Some renovations in the kitchen that typically meet with more success include the sink, counter tops and cabinets.” This can be a pricey remodel that is probably well worth it and will add value to the kitchen and the home as a whole.
- Outdated bathrooms. As with the kitchen, outdated bathroom with old linoleum, 1970s countertops, and pink or baby blue fixtures simply will not add value to the home. If you’re really in an outdated bathroom, this may be the time to improve and renovate.
For more information on improving your home, increasing the value of your Naples property or would like some tips on what your Naples home is currently worth, give the agents at Domain Realty a call today.
