Major home improvements can be expensive. However, updating your property is often worth it when you want to sell. On the other hand, your home may lose value due to various factors. Finding ways to elevate its appeal should be a top priority. In most cases, undertaking renovations and repairs will pay off, so watch out for these common things that can devalue your home and take the necessary steps to address them.
Bad curb appeal
Bad curb appeal can impact your property value. Therefore, ensure it looks spotless by revamping its exterior decor. Curb appeal is a key metric determining the first impression that potential buyers experience when viewing your home across the street. Adding a fresh paint layer, upgrading your outdoor lighting, and investing in new window frames are great ideas to improve your home’s exterior, so feel free to consider this.
Increase in local crime rate
Most buyers consider safety when exploring new properties - a simple search on Google can reveal the crime rate in any neighborhood. Unfortunately, your home's value may take a hit if crime levels have recently escalated in your area. Although this issue may be out of your control, you can easily compensate for it by upgrading your security systems. Prospective buyers may overlook local crime rates if they find out your property is more secure.
Outdated kitchen
A substandard kitchen can diminish your property value, making selling difficult. The kitchen is usually seen as the heart of any home. Buyers may walk away if they realize this space requires much renovation. Does your kitchen look shoddy and outdated? Carry out the necessary upgrades to modernize and depersonalize it as much as possible. Small improvements like replacing taps and changing the worktop and cabinet doors can help uplift your kitchen, so keep this in mind.
Damaged roof
A damaged roof can devalue your home since it weakens a building's integral components, including the ceiling. Missing shingles, dark stains on walls, a sagging attic, corroded shingles, and leaking are concrete signs you shouldn’t ignore. Holes in your roof can cause leaks while opening the gates for pests to invade your property. An urgent repair can prevent structural problems, so consult a roofing company to take on this task. Sometimes, this solution may not be enough. That said, consider installing a healthy roof to boost safety. Overlooking roof maintenance can lead to more expensive damages in the future, so schedule appointments for routine inspections ( at least annually). Experienced contractors can help keep your roof in tip-top shape.
Neighborhood conditions
Surprisingly, your neighborhood conditions can determine how much buyers will pay for your home. For instance, properties that are near airports or train tracks can raise noise pollution concerns. Power plants and landfills are also known to devalue properties. Bad neighbors can also be a problem, so keep this in mind. You probably can’t do much in most cases, but documenting your complaints and forwarding them to the right authorities is a good idea.
