5 Things That Will Decrease Your Home Value in Floresville
Buying your home was probably the largest financial transaction of your
life. So you certainly don’t want to do anything to decrease its value and
everything youcan to increase the value. The location-related factors that can
decrease your home value you can’t do anything about, but other factors are
within your control. So let’s take a look at the 5 things that will decrease
your home value.
1. Proximity to Power Lines or Flood Zones
Proximity to power lines or flood zones can decrease your home value in
Floresville. While one needs power lines, being too close to the large power
lines can lower your home’s value.
You need them for electricity, but it’s just not good to have powerlines too
near your home. There’s that annoying nonstop buzz, and they are simply
unattractive. In addition, some research has suggested that living too near
power lines can help promote certain kinds of cancer and other diseases. Your agent can help market your home to lessen the
impact of this value-decreasing feature.
Another thing that can decrease your home value is close proximity to a
flood zone. Flood insurance can affect the mortgage payment for a buyer.
2. Unusual Upgrades
You need to keep in mind that your home doesn’t exist in isolation, isn’t an
island. It is also a part of the neighborhood. That means that whatever
upgrades you make to your home should fit with the character and feel of the
neighborhood.
If, however, your upgrades are unusual (when considering the neighborhood as
a whole), you may decrease your home value in Floresville. For example, if you
install an in-ground pool in the backyard in a colder climate where it will
seldom be used and where no home in the neighborhood has one for that very
reason, you may lower the home’s value.
So, again, the best course is to talk to your Floresville before making any
upgrades. An experienced agent can guide you in making upgrades that will
increase, not decrease, your home value.
3. Deferred Maintenance and Deteriorating Paint
Two things that almost always lower a home’s value and successfully drive
buyers away are signs of deferred maintenance and poor paint quality. Here’s
what the real estate pros say about these things and how they decrease
your home value . . .
“Have a backlog of serious repairs, such as a leaky roof, damaged
siding, or a spluttering HVAC system? If so, it’s best to tackle them ASAP.
Letting them languish on your to-do list will only chip away at your home’s
property value. What’s more, it’s often more expensive to remedy these issues
the longer you wait.”
Something as simple as peeling, deteriorating exterior paint can lower a
home’s value a surprising amount. It’s a turnoff for buyers, and that will be
reflected in the offers. In repainting, though, you need to be careful about
colors that could still decrease your home value. Painting
your home in an offbeat color is a negative. “Buyers favor neutral colors like
gray, white, cream, and beige. So pick your colors with care and repaint the
exterior when it starts to look bad.”
4. Bad Neighbors and Foreclosures
The character of the neighborhood can also impact a home’s value. Two things
that can negatively impact value are bad neighbors and foreclosures in the
neighborhood.
Bad neighbors are typically those who have junk-filled yards, don’t maintain
their homes, and/or hold a lot of loud parties. The neighborhood crime rate is
also a factor here, as well as the presence of registered sex offenders in the
neighborhood.
On a related note, another thing that can decrease your home
value is the fact of neighborhood foreclosures. “A foreclosure close
to your home hurts your home’s property value. That’s because appraisers look
at comparable selling prices in your neighborhood when estimating your home’s
value. What’s more, foreclosed homes may sit vacant without any
maintenance for a long time. That also doesn’t bode well for your property value.”
5. Over-Personalizing
Another thing that can decrease your home value in Floresville and
that is entirely within your control is the amount of personalizing in and on
your home. Do too much, and value could go down.
“When a buyer tours a house, they quickly take note of all the projects
they’ll need to do. Topping their lists are things like removing quirky
wallpaper, painting over unusual colors and replacing conventional fixtures. If
you’re going for something offbeat, try to ensure it can be easily removed or
reversed when it’s time to sell.”
You need to strive instead for a blank-pallet effect, one that will allow
potential buyers to envision your house as their home. Your local agent can
help you get this right.
The Agent Advantage
As we mentioned, some of these you can’t
control, but others you can. And that’s where you need to call on your local
agent’s expertise. So if you’re ready to sell and don’t want to see a decrease
in your home value, contact us today at (210)
216-7722.