8 Things That Can Lower Your Home Value

When getting ready to sell consider these 8 things that might lower your value.

1: Poor Garage Space
Having no garage, or a tiny one-car garage, is a big negative in the home market. Most people want the storage space a garage provides. No garage means the car sits naked in the driveway open to the elements. Many modern families have two working adults and thus two cars, so a single-car garage is inconvenient.

2: A Pool
A pool might not automatically decrease the value of your home. On the other hand, it imposes strict limits in your potential buyers. If they don’t want a pool, they aren’t going to pay a premium to have it. If the home is in a location where a pool is expected, it won’t add much value at all.

3: Out of Date Appliances
Most homebuyers don’t want to turn around and invest in all new appliances the moment they buy the home. They’re strung out financially as it is. New appliances are a value addition. The same goes for an outdated electrical system. Old wires can even become fire hazards if they were improperly installed. As a seller, you’re not saving money by leaving old appliances in place.

 4: Damaged Roof
Roofs are time consuming and expensive to replace. A bad roof is a major flaw for any home, and it will drastically decrease the value of the home. You may think you’re saving money by leaving the problem for the new homeowners, but the lower sale price isn’t worth it.
Read more: http://moneyliving.com/articles/8-things-that-lower-your-homes-value/#ixzz2VGmlpl24

Share

Speak Your Mind

*