7 Big Property Flaws That Could Decrease Your Home’s Value
We all know what increases home value – renovated rooms, modern fixtures, and a hot seller’s market. But, what brings down property value?
Great question! This thought is often on the minds of homeowners, especially those who are looking to move.
Here’s the thing: property values naturally fluctuate in conjunction with the real estate market and economy. However, some home values can plummet due to other factors that aren’t directly caused by the market.
In this article, you will learn what brings down property value and how to avoid it.
These 7 factors are likely to decrease your property value the most:
- Neglected Home Maintenance
- Bad Neighbors
- Outdated interior Design
- Unrenovated Kitchen
- Lack of Landscaping
- Damaged Roof
- Unpleasant Noise Pollution
So why do each of these have such a negative impact on property value? Keep reading to find out.
1. Neglected Home Maintenance
Despite the hot seller’s market, neglected home maintenance can still decrease property values significantly.
Chipped paint, broken appliances, warped flooring. These are just to name a few factors that will hurt your property value if not taken care of.
Regular home maintenance is a must if you don’t want your property value to plummet. For starters, make sure your home is routinely checked for incongruencies and fix any issues as soon as they surface.
For instance, if you notice frayed electrical wires or leaky pipes, call your local handyman ASAP to take care of the problem. Other general maintenance you will want to keep an eye on include:
- Out of date HVAC systems
- Termite damage
- Cracked driveway
- Old, rusted gutters
- Foundation issues
Here’s the good news: if you maintain your property properly, your home value will stay consistent over the years.
2. Bad Neighbors
Unfortunately, your neighbors could potentially decrease the value of your property, and in more ways than just one.
First, if your neighbors are loud and rude, it could have a tremendous effect on your home’s value. Oftentimes, unpleasant neighbors will deter people from your home because they want to avoid interacting with them altogether. This could make your property hard to sell.
Second, if your neighbor’s property is unsightly and unkept, it can put a bad taste in your visitors’ mouths. This is particularly true when more than one home on your street is dilapidated.
Can Anything Be Done to Avoid Bad Neighbors?
Sadly, there isn’t a bullet-proof way to avoid bad neighbors.
However, if your home is covered by an HOA, you could send in a formal complaint to see if anything can be done.
3. Outdated Interior Design
No one likes old-fashioned home decor. In fact, that 1980’s floral wallpaper and those cheap looking gold faucets will immediately send a home valuation south! Here’s why.
Oftentimes, an outdated interior can make the home feel dusty and claustrophobic inside, which makes the house seem small and dark. One of the best ways to upgrade your home is to redo the paint job and install modern fixtures like kitchen appliances and lights.
Never underestimate the power of a makeover!
Pro-Tip: If your home is in need of a little face-lift, here are some fresh accent wall ideas to put your property into this era.
4. Unrenovated Kitchen
If you are wondering what brings down property value, this is definitely at the top of the list. A sub-standard kitchen is a huge no-no if you want your home to have more worth.
But, why the kitchen? What makes this part of the home so valuable?
The answer is simple. The kitchen is called the heart of the home for a reason: it’s the place where you cook delicious meals and provide nourishment to your friends and your family. Life is lived in the kitchen!
So, if your kitchen is cramped, unclean, and outdated, it could have some serious implications on your property value.
Pro-Tip: Sometimes, all you need to do to update your kitchen is to paint the cabinets a brighter color and remove excess clutter. When it comes to kitchens, clean and tidy is always a good direction to go!
5. Lack of Landscaping
Ouch, a yard full of weeds and unmaintained plants will really hurt your home value. Just picture this in your mind. Would you rather live in a home that has a gorgeous green lawn… or one with crabgrass and sticker burrs?
Here’s something we can all agree on: curb appeal is everything. As the saying goes, first impressions matter – and they do for your home as well.
As far as curb appeal goes, make sure your mailbox isn’t rotting, rusted, or crooked. Then, keep your driveway clean and ensure your garage isn’t dented or falling apart. Now, about that lawn…
Can’t Keep Up with the Lawn? Try This.
Not all of us are equipped with a green hand. If you want to have a showstopper landscape with minimal effort, consider planting flowers that are hearty and propagate themselves. These include:
These flowers are not only gorgeous but they will withstand many types of weather! Throw some mulch or river stones on top and your front yard will look glamorous in no time.
Pro-Tip: Try to avoid spiky plants like cactuses and agave when decorating your front yard. Spiky plants naturally give off “Danger! Don’t walk here!” vibes and can subconsciously make your home seem less inviting. Therefore, don’t plant large quantities of these species along the walkway to your front door.
6. Damaged Roof
Would you want to buy a home that has a damaged roof? One that has missing or cracked shingles, tons of mildew, and is leaking water into the house?
Of course not!
The roof is the crown of your home. If your home has a broken crown, its value will also break.
We’re not suggesting that you replace your entire roof – unless, of course, it is REALLY damaged and causing issues inside of your home. Instead, hire a roof cleaner to pressure wash the surface of your roof to remove any mold, dirt, and grime. Then, replace any broken shingles to help your roof look good as new!
7. Unpleasant Noise Pollution
Last but not least, one factor that decreases property value that is often overlooked is noise pollution. Homes that are located on busy roads or by train tracks are often worth less.
However, there is good news! If your home is built near a source of noise, consider investing in noise-canceling barriers. These may include:
- Plant a shrub wall: Put live or artificial shrubs around your home to buffer the noise around you. These shrubs will need to be pretty high to mask the sound, but they usually work pretty well!
- Seal your windows: Make sure your windows are sealed so they don’t let in excess noise.
- Install carpet or rugs: Carpet has the secret power to absorb sound waves – who knew!
Although you might not be able to completely eliminate all of the loud sounds around you, these small tricks will definitely help.
Get More Real Estate Insights with Pillar Homes
As you can see, there are several factors that can make or break your property value. Hopefully, with these tips, you can increase the value of your home and avoid falling victim to property flaws!
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