What Causes a Home's Value to Decrease? (5 Mistakes to Avoid)
There are hundreds of customizations and adjustments homeowners might make to a house. Some changes add to the value of the house, but others can actually decrease it without the owner even realizing it. These are the most common mistakes homeowners make when changing their homes.
1. Cheap Repairs
It can be hard to shell out for constant repairs, but it's essential to keep your home in good condition. Opting for cheap workmanship, DIY repairs or, worse, ignoring the problem won't be cheaper in the long run as it devalues the property.
Imagine viewing a home and seeing improperly cut tiling, obvious plaster patches in the wall or wonky fittings. These patchy features will set anyone thinking the property has less value and can lose you a huge percentage of the asking price.
2. Textured Walls and Ceilings
Textured or popcorn walls and ceilings are not as popular as they once were. Although some guides suggest that they're great for adding depth or covering damage, the cold hard truth is that most people hate them.
Not only that, but they're very difficult to remove. So prospective buyers may immediately see them as an incentive to purchase a different home, lowering the value of yours.
3. Adding Carpets and Wallpaper
Carpets and wallpaper can add interest to a room, but they aren't for everyone. Buyers tend to prefer hardwood floors, and laying a carpet over them can detract from the property's perceived value. Wallpaper often won't be to the viewer's preference and will just be seen as a difficult removal job that they’ll need to do if they buy the home.
4. Converting a Bedroom or Garage
Installing a dedicated room for your hobby or a large walk-in closet is a fun change that might suit your lifestyle perfectly. However, removing a bedroom or garage will drastically reduce the value of your property.
Garages and extra bedrooms rank at the top of what people are looking for in a home, so changing them removes a huge portion of the market. This lowers demand and lowers value.
5. Non-Neutral Decorating
Your home is a place where you can let your personality shine, but know that your tastes might not be shared by everyone. There's a reason that every guide to selling homes recommends keeping the trim white, the walls neutral, and the surfaces clutter-free.
This muted design allows the prospective buyer to play out their own vision of the house and imagine their life there. Bright, bold designs and walls can turn buyers off easily.
Keep Things Neutral
As you can see, there's a theme among these tips. For keeping top value when selling your property, you need to hold a little of your own personal style back and keep things a pleasant neutral for the prospective buyer. With this, you can gain the maximum profit when you decide to move up the property ladder and sell your home.
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