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4 Factors That Can Negatively Affect the Value of Your Home

 

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If you plan to put your home on the market, it goes without saying that you want the maximum amount of money possible when it comes to reselling it. However, before you do that, you need to be aware of the factors that can negatively impact the property value of your home. From bad plumbing to mold, there are several features that can decrease the overall value of your home that you may not be aware of.

1. Negative Events

If your home has issues such as mold, sustained damage from a fire, or if it was the site of a violent crime it could make the property harder to sell.

2. Surrounding Environment

Even if your home and yard is in pristine condition, the surrounding environment can have a negative impact on the value of your house. For instance, if your neighbor’s property is surrounded by a fence which corals barking dogs, or if their property has trash, motor homes, boats, disabled cars or other unsightly vehicles and debris at the front portion of their lawns, this can decrease the value of your home.

3. Age and Condition

It’s a well-known fact that a property’s age can affect its overall value. However, what few people are aware of is the fact that the age of your appliances can affect the property value as well. In fact, outdated baths, kitchens, or even driveway/patio cement that is cracked can devalue your home. It’s also worth noting that if a property has a HVAC system that is old or a roof that is in bad condition its value will be significantly decreased when it is placed on the market. This is one of the many reasons why people are advised to conduct renovations before they place their home on the market.

4. Bad Plumbing

No one wants to purchase a home and worry whether their personal property will eventually sustain water damage as a result of a faulty plumbing system. If your home shows signs that it has sustained water damage in the past, or if there’s a sign that your property’s plumbing infrastructure demonstrates signs of wear and tear such as leaking faucets, it can significantly decrease the property value of your house.

If you believe that you have a problematic plumbing system or if you think your pipes need to be replaced, one of the things you can do is to go to a search engine and type in the phrase: “Plumber Near Me“. By typing in this simple search phrase you’ll get a list of plumbers who are within close proximity of you, which will contain the name of the company, their address, their phone number as well as information surrounding how far away they are from your home.

This is just a fraction of things that can negatively impact your property’s value. There are also several other things which can affect it, which include the seasons, external/internal appearance, amenities and even the economy.