Are you wondering if your home is losing value? Our team has set up a guide to help you determine if it is. Whether you are selling or plan to in the future, you want to ensure your home is attractive and secure. To do this, you have to figure out what hurts your property value and how you can avoid those things to ensure your home is in top condition.
5 Factors That Hurt Property Value
Neglected Maintenance
If you think your home is losing value, there are ways to check. Neglected maintenance is the quickest way your home can depreciate. A chipped roof, drippy sink, broken door, and other visible signs of wear and tear to your home can significantly impact a buyer’s decision. These minor repairs can become significant maintenance costs if left untouched for too long. Go through your home and check the entire place for signs of visible wear and tear or defective appliances to determine if your home needs maintenance before your equipment breaks and requires repairs. Some of the following issues should be addressed and not avoided to ensure your home maintains its value.
- Old HVAC systems
- Fading/chipped paint
- Cracked/stained/faded roof/missing roof shingles
- Decaying wood
- Cracked driveway
- Leaky plumbing
- Cracked siding
- Stained/damaged fence
Location
The location of where you live plays a significant role in determining your home’s value. If you think your home has less value, it could be due to the location and surrounding properties. Nicer, more central locations tend to have higher value than those that do not, regardless of whether they have a similar look or inside features. Your property’s location to other undesirable facilities or businesses may also impact your value. Those locations include:
- Dumps or landfills
- Hospitals
- Power plants
- Cemetery
- Funeral home
- Shooting range
- Sewer Plant
Outdated Kitchens and Bathrooms
A home remodel can significantly boost your home’s appearance and value. If your kitchen or bathroom is outdated, it is often unattractive for new buyers and prevents them from wanting to buy and having to fix it up on their own. If your kitchen still looks like it’s in the 70s or has lots of old, weak appliances, it’s often outdated and outside for your use. The same goes for the bathroom in your home. Pink bathroom or avocado tiling is becoming outdated, and it is obvious that it hasn’t been updated. Take a look at your home and determine if your most important rooms are outdated. A remodel will significantly make your home attractive and bring up its value.
Bad/Ugly Appearance & Landscaping
No one wants to buy a house with an ugly appearance. This can include faded paint, unattractive landscaping, and even your neighbors having an unattractive property. A significant component of curb apparel is what users see outside your home. If your home looks very well-kept, with well-maintained grass, trees, plants, etc., it will stand out more on the market than the ones left hanging. Hazardous trees or overgrowth of trees, bushes, etc., can be hazardous and attract more bugs. Look at your landscaping and determine if your home is well maintained or if you need to hire professional landscapers.
Traffic Noise
Similar to the location of your home, the traffic areas and noise of that traffic can hurt your home’s value. Busy off-ramps by highways or chaotic intersections can make living in your home less enjoyable. Depending on the location of police, fire, and hospital routes, you may have higher noise pollution, making your home less attractive. Homes located in an interior lot with less traffic noise will make their value much higher, but it also can depend on what the buyer is looking for location-wise.
Sell Your House With Bergen Realty Team in NJ
Ready to sell your home? The Bergen Realty Team, located in Oradell, NJ, is here to help. Finding a top real estate agent to guide you toward the right strategy without challenges is easy. We are here to help you allow your buying and selling journey. Be sure your home is ready and well taken care of from the inside out. Paint, landscape, remodel, get a new roof, or improve a significant room in your home and immediately watch the value increase. For more selling and home value tips, contact us today by filling out our form or calling 201-345-7300.