When a person buys his dream home he doesn’t tend to think about having to sell it in the future. But sometimes, circumstances are such that you need to sell. An individual may have to move out of his home to go abroad for a better job opportunity, or may need to find a bigger place that will comfortably accommodate his growing family. When such things occur, a homeowner is forced to sell his property, and before he does, he should be aware of certain issues that could devalue his house.
Factors that Devalue a House
Some factors that reduce the resale value of a property can be avoided while others are external features that a homeowner has no control over. Below are a few examples that should be considered by those who are thinking about selling their properties.
“Location, location, location…” Most real estate experts agree that location can either be a positive or a negative point to home buyers. Naturally, people prefer houses that are near schools, malls, parks, hospitals, and other community and transportation facilities, as well as public infrastructures. Such features make it easier for them to obtain what they need, or to go to school or work. If a structure is far from needed public facilities, fewer people may want to buy it. Also, a house sitting just beneath communication towers or heavy electrical cables, or those very near railroad and bus stations or airports aren’t very attractive too as these areas tend to be very busy and noisy. Structures sitting on flood-prone areas and other unsafe locations won’t fetch a high price as well.
Security is a major issue because a person naturally wants a place where he and his family can feel safe and secure. People do not want to settle down in a place where they must always be on guard for fear of prowlers sneaking into their home even when they are around. So, a house in a sinister neighborhood will probably get fewer offers than one that is in a safer area.
3. A Too Customized Look
Everybody wants to be unique, and this is why homeowners want to put their own personal touch to their homes. Sometimes, however, over-customization can be too unique for other people’s taste. Hence, an overly customized home can be a positive factor for some or a negative feature to others.
Some homeowners are into DIY projects. Work done on a house can add value to it if it is done properly. Modernizing outdated kitchens and baths or redesigning a place to make it look more elegant can greatly increase value and attract buyers’ interests. On the other hand, DIY projects that have gone wrong lessen the worth of a property.
5. Weird Smells
A house emanating with a mysterious unappealing odor won’t attract that many buyers. Distasteful smells could be due to many things, such as pets or activities of previous owners, or accidents, like fire, or even pest infestations.
6. The Neighbors
The neighborhood isn’t the only concern of selective buyers. The type of neighbors also makes an impact on a property’s resale value. How? Well, a neighbor who doesn’t keep his home well-maintained or one who always encroaches on other people’s properties will certainly drive potential buyers away. Who would want to live with someone who parks his oversized RV in another homeowner’s space? This could become a serious problem later on.
- John Schilling. “Mini bathroom/toilet rebuild”. January 27, 2007. Online image. Flickr. May 29, 2013.
About the Author
Claire Flint has written hundreds of articles about home improvement and real estate for a number of satisfied clients. Some of her articles have also been used by sites, like http://www.hayden-homes.com/eugene-oregon/ .