For most people, their homes are their biggest investments, so it makes sense why they’ll want to put plenty effort into boosting their home’s value with the right renovations and upgrades. But unfortunately, many homeowners are not aware of several things that can devalue their property. Of course, some factors may be out of your control, like untidy neighbours, bad schools and noise pollution. But some of the things you may consider to be upgrades within your property can also end up devaluing your home. Here are four things that can cause your house to lose value.
- Elaborate landscaping
Sure, surrounding your home with lush landscaping is always a plus, as it spruces up your outdoor space and increases your home’s value. But there’s such a thing as taking your landscaping too far, especially when it attracts extra maintenance expenses. A simple and clean landscape is all you need in most cases. Anything elaborate that requires extra labor to maintain may turn heads away. Expensive outdoor decor will also make your home look wonderful, but it might not necessarily add additional value beyond a simple and clean landscape.
- Interior and exterior eyesores
Peeling interior and exterior walls, visible signs of water damage, broken gates, rusting fixtures, cracked walls, faded paint, large stains, exposed garbage, and any eyesore on your property can reduce its value. Do your best to always improve your home’s appearance by tackling anything that looks like an eyesore.
- Pests and rodents
This point may sound obvious, but it’s worth mentioning. The presence of pests and rodents can quickly devalue your home. No one wants to see unwelcome animals invading their home, especially when these pests carry different types of health risks. Unfortunately, these unwelcome guests are more common in homes than many think, with mosquitoes, rodents, wasps, bed bugs, and cockroaches being the main culprits. Any sign of pest infestation is bad news, as it shows your home is in poor condition. Even worse, these animals present serious health risks and can do structural damage to your home. You might struggle to eliminate pests and rodents on your own, but you can always invite a professional exterminator to get rid of them.
- An expensive pool
Adding a pool to your home is a good way to enhance your outdoor space and create an inviting area to relax and have fun. Unfortunately, an expensive pool can do your home more harm than good in terms of value, especially if you live in a cooler climate where most people prefer to stay indoors. An expensive pool will only become a huge maintenance headache, turning away home shoppers.
- Outstanding repairs
Faulty heating and cooling systems, cracks in the walls, stained ceilings, leaky faucets, busted plumbing, a leaky roof, mold infestation, and pretty much anything that needs serious repair will dent your home’s value, not to mention make living in your home unsafe and less comfortable. If your home needs serious repairs, you have to get them done as soon as possible, as the longer you wait, the less safe your home will become.
