Decrease Home Value

Things That Decrease Home Value

Buying a home is one of the biggest purchases you will make in your life. You want to make sure you do everything you can to either buy the best property for you or if you’re selling, to make sure everything is in order so it can sell fast! Here are some surprising things that can decrease home value.

 

Decrease Home Value

 

Paint Quality

Paint is a big deal. The exterior paint on a home is an even bigger deal. This is the first look that someone sees of a property. Is the paint chipping or completely smooth all the way around the house? It may seem small, but it makes a big difference. Another thing with paint is the color. Choosing the right color for a property can be make or break. Offbeat colors can be a little dicey for an exterior color. This can be a turn off for potential buyers. 

 

Foreclosures Nearby

While you may think your home is a perfect 10, if there are foreclosed property around your neighborhood, it may be a reason people might turn their backs on viewing a property if you’re selling. Appraisers look at your neighborhood to see comparable home and selling prices, and if you have foreclosures around, it will decrease the value of your house. 

 

That Curb Appeal

The way a yard looks could decrease the value right away. If it is not well-maintained or the condition is poor, expect a lower value. A yard or outside area tends to be one of the more important items so it is very important to keep up with that to keep good value on a home. Additionally, if the yard is overfilled with ponds, pools, hot tubs, etc. it could also be viewed as a negative, as sometimes that’s seen as extra maintenance for a home

 

The Address

This one might not be as well known as some of the other items. But the actual name of the street a property has an affect on the value. When a street name ends with ones such as “Drive, Street, or Avenue” they tend to have a lower value. When street names end in “Place or Boulevard” there tends to be a higher value in these properties. 

 

Home Buyers Express is one of Maryland’s leading real estate firms. Our mission is to help with your buying or selling experience. With over 20 years of experience in the real estate industry, our team has purchased and remodeled hundreds of homes. We tailor each transaction to meet our clients’ needs and provide them with a seamless experience. Contact us today!

 

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top