What Decreases Property Value?

Real Estate Tips
March 15, 2022

A home is the center of your life and also the biggest purchase you will likely make. Whether you are looking sell your home and start somewhere new or protect your investment, there are a few things to consider. Some aspects of your house will decrease the property value. So what are they?

5 Things that Decrease the Property Value of Your Home

Looking to increase the value of your home? Here are a few things to watch out for if you do not want to decrease your property’s value:

Maintenance: Believe it or not, regular maintenance is the easiest way to stop the value of your home from decreasing. This includes repainting the siding, fixing the room, and staying on top of the HVAC system. The longer you wait to do this, the more expensive it can be.
Neighborhood Issues: If you have neighbors that do not maintain their home or they are in active foreclosure, that can hurt the value of your home. Typically, when you look to sell your home, appraisers will look at the percentage of foreclosures in the area to compare it to your home’s price.
Proximity to Undesirable Businesses and Structures: Unfortunately, this may be out of your hands. If you purchased a home and an undesirable business, such as a shooting range or power plant are built, there’s not much you can do about it. Before these structures go up, attend the necessary meetings to avoid them if you can!
A Personalized Touch: When you purchase a home, you want to make it something you love. That can be an amazing thing! However, if you are looking to sell your house, too much personalization can decrease the value. This includes quirky wallpaper and unusual colors, as well as lawn ornaments.
Too Much Carpet: While carpet can help keep the house cozy and minimize sound, it is not desirable in today’s market. Consider updating or removing the carpets if you are looking to sell!