These Things Reduce the Value of Your Home.
If you’re a homeowner, you’ve no doubt checked your home’s appraised value on Zillow once or twice (or sixty). And while this dollar amount may paint a big picture of your home’s value based on its square footage, number of bedrooms, tax returns, and recent home sales in your area, it cannot explain the relative impact of your design choices and the condition of key elements in and around your home. him. Here are a few things that you may not be aware of that reduce the value of your home.
While laminate countertops may be popular (because they are cheap), they look outdated and are not desirable for most new home buyers. According to the National Association of Home Builders (NAHB), more than half of homebuyers (57%) prefer granite or natural stone countertops, and another 21% prefer quartz or engineered stone. Only 8% were in the laminate countertop market.
Lack of storage space
In the same NAHB report, home storage was listed as one of the top 10 most requested features. Spacious closets, closets, shelving, attic spaces, unfinished basements, and garage storage are what most homebuyers crave.
Little (or no) kitchen pantry
Having built-in pantries is a highly desirable feature, according to 83% of NAHB survey respondents. Thirty-two percent of respondents cited it as essential/must have, while 51% cited it as desirable, making it the most desirable kitchen feature (simply crowding out the sink and eating table next to it).
Wall to wall carpet
There was a time when parquet floors were regularly carpeted from wall to wall because that’s what people wanted. This time is over. While carpet can give a room a “cosy” feel, most modern homebuyers want hardwood floors (or parquet flooring otherwise) for a more sophisticated look. Consider taking the carpet up and polishing the floor underneath, or at the very least have the carpet professionally cleaned to remove odors and stains.
While there are undoubtedly homebuyers who are still looking for an old-school hearth, according to Bob Veal , many of today’s homebuyers are looking for energy-efficient alternatives to traditional drafty wood-burning fireplaces. (Not to mention the grime and all-consuming smell that hangs over your home after the coals are lit.) Vila recommends adding an “energy-saving insert to minimize leaks and drafts and increase the attraction.”
Dark brown kitchen cabinets
While according to the NAHB report “What Home Buyers Really Want ,” home buyers are fairly evenly split between their desire for modern (62%) and traditional cabinetry (58%), and “nearly a third of home buyers (32%) want white cabinets. – not much more than 26% who prefer a medium brown body color. The inequality increases when it comes to dark brown cabinets. Only 13% are interested in them. (And for reference, black is even less interested – only 5%).
Worn or outdated paint work
The quality of the body paint makes a powerful first impression. Peeling, faded or cracked paint must be repaired before a home is listed for sale. The same for unwanted colors, both inside and out. Wall stains, quirky wallpaper, and bold or offbeat colors should be replaced with neutrals like grey, cream or white. For a touch of perceived value , paint your front door one of these valuable colors .
New home buyers want to be attracted by a neat and welcoming appearance (rather than a vision of hard work ahead). Overgrown bushes, blackened concrete, unruly tree branches, an abundance of fallen tree seeds, and dead or dying plants are all huge obstacles and send a visual message that a home hasn’t been looked after properly. Clean up the outside (including all those weeds sticking out of the paving slabs in front of the entrance) and don’t let homebuyers wonder what other home maintenance jobs have been neglected.
When people buy a home, many want to imagine enjoying the good weather and having a good time outdoors while entertaining friends and family. Obviously, having no outdoor space at all will lower the value of your home, but perhaps less obvious is the impact of having no lighting on your outdoor space; 79% of homebuyers desire outdoor lighting , be it security, walkway, string lighting, or lanterns. This touch of visibility at night can add dollars to your bottom line as a salesperson.