Things That Decrease The Value Of A Home
When it comes to looking for a pre-existing home the amount and variety can be overwhelming. It is often assumed that a home that is on the market will probably be in tip top condition and ready for a family to move right in. Unfortunately, this isn't consistently the case as you will find homes in all shapes, sizes, and more importantly, conditions. It is not unheard of for homes up for sale which look like they haven't been cleaned in a year or more with dirty floors, dog hair everywhere and garbage on all the counters. While this is a worst-case scenario it is true that not as many home owners present their property in the best light as you may think.
Damaged Flooring
Flooring is the most obvious aspect of a home and it should be presented in the best condition possible. However, you will find worn down carpet with high-traffic dirt paths and other staining. Linoleum in the kitchen and bathrooms that is peeling at the edges or has dings and dents. Hardwood floors which should be warm and inviting but have a worn down surface. In all of these scenarios the solution would be to replace the carpet, rip up the linoleum to install tile and sand the hardwood floor and refinish it.
Aluminum Wiring
Older homes, especially those built in the 40s and 50s, were typically constructed with aluminum wiring. This is known to be a potential fire hazard and it is recommended by electricians and general contractors that pre-existing aluminum wire be ripped out and proper electrical wire using copper be installed. No new home owner wants to move into a property and continually worry about their investment and living space burning down.
Substandard Plumbing
Recent home construction almost always uses plastic piping with plastic fittings as it is proven to be more reliable than traditional copper plumbing especially at the joints. Plastic piping also allows more flexibility and ease of installation during construction or refitting. If an older home as copper piping or steel pipes they could lead to flooding or, at a minimum, significant water damage. During a home inspection the inspector will be on the lookout for signs of water damage or leaking to advise the home buyer of possible issues.
Questionable Paint
Lead paint hasn't been used for decades and won't be much of a consideration for potential home buyers. More of a concern is home owners which have questionable taste when painting various rooms. Choice of paint color is one of the things that will decrease the value of a home significantly. While not a structural or safety issue, it has the most immediate impact especially if colors like lime green or hot pink have been chosen. A potential home buyer will prefer to not have to repaint an entire house inside and out due to tacky paint selection.
Unfinished Landscaping
Landscaping can be a significant expense if the backyard is not currently landscaped or the front yard is in an extreme state of disrepair. Weeds, overgrown bushes and dead spots in the yard are all issues that should be addressed prior to a home being placed on the market. An unfinished backyard, while a significant additional expense, is at least a blank slate that allows a potential buyer to do their own thing. A front yard however not only affects curb appeal but also illustrates a home sellers disposition towards the sale of their home.
Summary
These are just a few of the many things that will decrease the value of a home in addition to items such items as styling, missing roof shingles, stains or cracks on the driveway, decayed fencing and other issues which detract potential buyers. It's actually quite simple to sell a home if a home owner is serious. Try to make a home look as new as possible, clean it from top to bottom and fix and repair everything. It will be incredibly difficult to get top value for a home if it doesn't look better than every other home on the market.
