Selling a house is more than just staging the home and uploading it to the local real estate site. There’s an art to pricing your house, so you get as much money as possible while attracting potential buyers. The trick is to know what things bring down their value and avoid them at all costs. It sounds easy, but it isn’t. That’s why we have outlined some common things that bring down the value of a house so that you can be prepared if ever you come across one in future house hunting expeditions. If you are looking to offload your house, you can sell your Canon City house to I Buy Pueblo Houses.
If your home’s exterior is in bad shape, it will be hard to sell it — or even find a buyer. So make sure to keep up on repairs and maintenance, especially if you’re planning on selling in the near future.
A good rule of thumb is to start from the roof and work your way down. Ensure the roof is in good condition, the gutters are clean, and the paint is fresh and free of chips and cracks. If you have any landscaping or trees near the house, make sure they’re well-maintained as well.
Increasing mortgage rates
As rates go up, so does the price of a house. Conversely, as rates go down, so does the price of a house. That’s because as interest rates rise, buyers have to pay more money to borrow money. And since most people finance their home purchase with a mortgage, a high mortgage interest rate can easily bring down the value of a house – even if everything else about it remains the same.
Outdated Fixtures and Appliances
One of the quickest and most visible ways to bring down the value of a house is by having outdated fixtures and appliances. Potential buyers will see this as a sign of neglect and won’t be interested in purchasing the property. Replacing your old appliances and fixtures with newer, more modern versions is a great way to increase the value of your home.
Lack of Curb Appeal
If your driveway is cracked, the fence is falling, or the lawn is full of weeds, potential buyers will be turned off before they’ve even set foot in your home. You can do a few things to improve your curb appeal on a budget. Start by fixing small issues like a broken window or door, repainting the front door, or planting flowers in the garden. You can also make bigger changes, like installing a new porch or driveway or replacing the roof.
One of the main factors that bring down the value of a house is its inconvenient location. If it’s located in a remote area or a place that’s not easily accessible, that can lower its value significantly. Another thing that can impact a house’s value is its proximity to certain establishments or features. For example, a house near a busy road or an airport can also make it less desirable to buyers. It’s important to keep these things in mind when you’re putting your house on the market, as they can greatly impact how much you’ll get for it.
Neighborhood foreclosures and short sales
When there are too many of these happening in the area, it can be a sign that the neighborhood is unstable and may not be a good place to invest in. Additionally, if a house has been on the market for an extended period of time, it’s usually a sign that there is something wrong with it that potential buyers can see. This may be anything from bad roofs to pests or even outdated looks.
No one wants to live in a cluttered home. It makes the space feel smaller and more cramped, and it can also be a major turnoff for potential buyers.
One of the simplest (and most affordable) ways to make your house look and feel bigger is to declutter. Get rid of any excess furniture, knickknacks, or seasonal decor. If it’s been collecting dust for months (or even years), it’s time to let it go.
If you’re having difficulty getting started, try focusing on one area at a time. Tackle one room at a time or start with larger items like furniture and appliances. And if all else fails, there’s always professional help. A decluttering service can be really helpful in getting your home whipped into shape in no time.
No one wants to buy a home that’s going to lose value immediately they step in the door. By avoiding these common mistakes, you can ensure that your house is in tip-top shape and ready to sell at a moment’s notice.