Looking To Sell Your Home? Avoid 6 Value Reducers

looking to sell your home decrease value

If you are looking to sell your home, get ready to take a deep dive into every nook and cranny to inspect your home’s overall condition. To get top dollar for your property, you’ll need to get a handle on what items are likely to decrease its value. Be aware that after living in your home for so long, your eyes can become desensitized to problem spots.

To compensate for homeowner’s blind eye, it can be smart to have someone else, like an experienced ADKPP real estate agent, walk through to see what potential issues pop out. Before listing, ideally any repairs that you have the time and financial resources to complete will be finished. Below are six of the most important things home owners should look into before selling.

6 Factors That Decrease Value When Looking To Sell Your Home

1. Deferred Maintenance

This is one of the biggest and most glaring ways your value can be decreased when looking to sell your home. Deferred maintenance often leaves potential buyers with the perception that the homeowner has not cared for the property correctly. Even seemingly minor maintenance issues can lead to potential buyers skipping over your home.

Some of the smallest things can compound over time. For example, small drips from heaters might not seem like a big deal, but moisture problems can grow and build over time causing more damage throughout the property. Even dead light bulbs can cause potential homebuyers to question if the electrical wiring has been maintained correctly.

How To Avoid Issues: Go through your home yearly to inspect everything from foundation to roof. Keep in mind that in the Adirondacks, weather can cause damage to homes throughout the year.

  • Major Home Systems – Inspect and clean yearly or every other year
  • Plumbing – Replace or fix any leaky areas
  • Electrical – If an outlet or switch doesn’t work, replace or repair
  • Lighting – Replace burnt out bulbs
  • Walls – Fix any damage from nails or screws & paint if necessary
  • Roof – Check roof for damage or missing shingles
  • Decking – Replace any rotted or decayed wood
  • Driveway – Fix any ruts or cracks

2. Improvements Done Poorly

When choosing to DIY a project in your home vs. hiring a pro, it may save you money, but results may not be optimal. You may be able to live with a potentially poor finished product, but many potential buyers could be turned off. Poorly done DIY improvements can undermine buyer confidence in the same way that deferred maintenance does.

Taking the time to correctly improve your home will only help your resale value in the long run. If you are aren’t handy or do not understand the codes of your region, we highly suggest finding a local contractor or installer to perform any home improvements. While generally more expensive, you will end up benefiting in the long run with an attractively finished home that is up to code.

Missing crucial code requirements of a remodel or improvement can also affect viability of insurance claims. Reputable contractors and builders generally cross all the t’s and dot all the i’s, so the home is up to code and insurance claims are valid. Being able to file a successful claim to repair or rebuild is important for every home.

3. Outdated Interior

Some homeowners enjoy a classic look or may not have the funds to consistently upgrade the interior. Unfortunately, this will also affect value when looking to sell your home. Putting money into your property over time to occasionally upgrade the interior will most likely lead to a higher return.

Most home buyers are not looking for shag carpet, a kitchen with avocado colored appliances or 70’s inspired paint and wallpaper. With buyers often having more modern tastes, even minor updates like a new fresh color or lifting the shag carpet can help increase the appeal of your property. Depending on when an Adirondack home was built, you may even discover hardwood flooring under the ugly carpeting that may have been installed as a luxury feature over original flooring because of the winter warmth it provided.

When looking to sell your home, consider that home buyers will start to take upgrade costs into account. Wanting an interior with a more modern feel, some buyers may skip your property if it is too retro inside and it looks like upgrade costs will add up quickly.

4. Poor Landscaping

Curb appeal is something to consider when looking to sell your home. The first thing a home buyer sees is the exterior of your home. Making sure your landscaping is properly taken care of can do a lot to keep interest on your property. If potential buyers are greeted by broken fencing, overgrown grass and unmaintained siding, they may tell an agent that they are no longer interested and skip out on seeing the rest of the property.

As a simple maintenance plan, homeowners should keep the yard mowed/shoveled and paths cleared, and stay on top of simple upkeep like re-painting if there is peeling paint on the siding. Keeping things organized and cleaned up around the house and throughout the property can also make your home look more inviting.

If you are looking to go a little above and beyond, adding some welcoming features could really catch the home buyer’s eye. Planting complementary seasonal flowers or perennials (less work) that highlight your house, or even adding some seasonal decorations (like pumpkins in the fall) can really make your property stand out.

5. Noise Pollution

When looking to sell your home, be sure to go outside and take a look at what’s going on sound wise around your property. Large trucks flying by or beeping construction vehicles might not be the cup of tea that home buyers are looking for. Noise pollution can really affect the feeling the buyer has about a property. The photos and home can show perfectly, but if buyers don’t have a positive attitude about the sounds and feel of the area, they may change their mind.

In new subdivisions where other properties are still being built, construction sounds can be impossible to ignore. This can definitely deter some buyers, so it may be prudent to hold off on listing until all surrounding construction is complete. A new homeowner may be more likely to be seriously interested in a home where sounds of nature or a lively neighborhood dominate, not construction noise.

6. Location

Sadly, when looking to sell your home, some unchangeable factors like location can play a very big part in pricing of a property. This can be seen throughout the nation, as well as in the Adirondacks where certain areas are more desirable than others.

For example, a $500,000 home in Lake Placid may have a comparable property in an outskirt town that sells for $400,00 or less depending on remoteness. Sometimes, even within a 5 mile drive, you can see a difference in pricing. While a homeowner has no real control over location of their property and buyer preference towards locations, there is still room for a positive outlook. Market ebbs and flows may lead to increases in nearby areas that could allow your property to follow suit.

When looking to sell your home, there are many steps to the process. Considering what factors may be negatively affecting your home’s value and pricing and doing what you can to address them can be a great place to start.

For expert advice on all things Adirondack real estate and to get started on selling your home, contact us today at Berskhire Hathaway HomeServices Adirondack Premier Properties!

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