10 ways to decrease the value of your home
A lot of things factor into how much your home is worth, and it can be an overwhelming experience to prep, list, and sell your place. I know! We recently sold the first house we ever bought as a married couple, and I was amazed at everything that goes into making your home sellable . . . or not sellable. We’ve already talked about 10 ways to increase the value of your home, but now let’s discuss the 10 ways you can decrease the value of your home.
- Location, Location, Location—Even though your house might be the best on the block, a bad neighborhood can really impact the value of your home.
- Poor Curb Appeal—Take care of the outside as well as the inside. Whether it’s a rotting fence, a yard overrun with weeds, or a shed in major disrepair, the yard and appearance of your home is the first thing a buyer will see and can be the deciding factor in how much your home is worth.
- Bold Paint Colors—Even though you might love the pink ceilings in your house (guilty!), a buyer might be put off by the color. If you’re planning to sell, pick neutral colors to appeal to the masses. The same goes for painting the exterior of the home.
- Clutter—Before a showing, be sure to pack up and store excessive furniture, clear clutter, and clean up!
- A Bad Kitchen—A kitchen is one of the main selling points in a home. If you’re planning to renovate yours and sell in the near future, beware of any kitchen renovation that is too taste-specific or extreme in design.
- A Bad Bathroom—Heart shaped tubs are fun in theory . . . but not in practice. It’s best to avoid kitschy sinks, faucets, and tiles. Stick to the classics.
- Pets—While Fido may be the love of your life, consider moving your pet elsewhere while you sell. A strong smell of animals will put off some buyers—especially those with allergies. And take care to repair any damage caused by your pet. Cleaning carpets and upholstery will go a long way.
- Wood Paneling—While this used to be all the rage, nowadays no one wants a wood paneled wall. The only thing potential buyers will see is the cost of tearing down that wretched wall.
- Bad Renovations—Whether it’s a toilet that only fills up with hot water, a crooked mantle, or lumpy plastering, obvious signs of bad DIY will devalue your home. So if you plan to make renovations to your home, take care to do them well.
- Over Decorating—Decorating in a highly taste-specific style, such as Electric-Retro-Modern-Punk or whatever it may be, can put buyers off entirely. Every potential buyer wants to be able to envision themselves living in that space. So you want to appeal to the broadest range of buyers. Before listing, make sure you décor leans more to the neutral side of things.
Have you seen anything while house shopping that turned you off buying a particular home? If so, share in the comments!