3 Things that Can Reduce the Value of Your House When Selling
When it comes to selling your home, you are naturally looking for the best deal, to pocket as much money as possible. All your efforts are directed towards working on your home to make it sell for the best price.
You might also be wondering what factors devalues a house. What are the things that can reduce the value of your home and how would you avoid it?
With that in mind, here are ten things that can reduce the value of your home so you can avoid them when it comes to selling your home.
If you are looking for the best deals to sell house in Philadelphia, you can always connect with us.
1. A Messy Exterior
Kerb appeal is the most important thing in a quick home sale. If your house does not look good from the outside, buyers will not want to check in and go through the door. According to research, home hunters need about 10 minutes to determine if they want to own it by looking at its outer area. Interestingly, many people want to pay less, at least 20% of the asking price if the home looks unattractive from the outside. So, it is best to repair your yard to get the most out of it. This can include adding fresh paint, adding a potted plant or hanging basket, mowing the lawn, washing all the windows, etc.
2. Low Energy Efficiency Rating
Energy costs have been rising for consumers since the introduction of energy efficiency certification. A poor energy efficiency can discourage buyers who want to buy your property. Thus, potential buyers may decide to spend a few less dollars on it.
According to research, there is a link between a stronger energy efficiency rating and a higher house price. The higher the rating, the value of the property can increase by up to 14%. You can improve your property’s energy efficiency rating by installing insulation in your property, adding demolition jackets to plumbing, replacing lamps with energy-saving lamps, upgrading to a more energy-efficient boiler.
3. Over Personalization
Contrary to many people’s beliefs, there are many home improvements that can reduce the value of your home without your knowledge. There is something called renovating your property and making the wrong type of “repair” that can damage your home and can turn away customers. So, before you make any changes to your property, it is better to know what increases the value of your property and what decreases it.
If you want to renovate, make sure it remains simple and not be too big or personal, as these can be great discounts for potential buyers. For example, one of the changes that can be difficult could be turning a double room into a single room.
These are the factors responsible for devaluing your home in Philadelphia. Avoid these mistakes and you are sure to get the best deal in selling your house. If you want to get the best deals to sell house in Philadelphia, you can always connect with us.