What Things Significantly Decrease the Value of Your Home?
As a homeowner, certain upgrades and basic maintenance around your property are critical for overall value. Keeping the home clean and functional are just the starting points when it comes to maintaining a valuable property. While it is important to understand the factors that increase the value of your home, it is also important to understand the factors that decrease the value of your home. Take a look at these top things that Orlando Florida attorneys suggest are the most critical when it comes to property value.
1. Unhealthy Neighborhood Conditions
A top reason for home-value decline is an unhealthy neighborhood. Oil refineries, factories, airports and other facilities give off fumes and create noise for nearby homes. Most properties cannot gain much value when they are in close proximity to these landmarks.
If a particular company is moving into your neighborhood that might bring about some of the unhealthy conditions contemplated above, contacting Orlando real estate attorneys is a smart place to start. You can discuss your concerns with the lawyers at Nishad Khan, P.L., which may help with preserving your neighborhood’s conditions.
2. Improper Maintenance or Upgrades
Taking on any major project around the home might be a DIY dream but consider professional help for these tasks. Incomplete or unpermitted projects, such as a home modifications or additions, will decrease your property’s value. In this circumstance, any potential buyer may discover that there is additional work that may be necessary to bring the property up to code. This could be construed as a burden to the buyer, which may cause the buyer to either bid low or skip an offer entirely.
Neglecting the property is also a value concern. Keeping up with basic maintenance will improve the value of your property over time.
3. Problematic Neighbors
Every neighborhood is unique, and this fact extends to the neighbors. Most neighborhoods with responsible and quiet residents will have higher values than others. Neighbors who are loud with their voices, vehicles or music will likely lower your property values. If you have problematic neighbors, exploring your options with Orlando real estate lawyers might be a solution. You have rights as a property owner. Learning how those rights can benefit your home’s value is of utmost importance when you plan on moving soon.
4. Wall-to-Wall Carpet
The days of wall-to-wall carpeting being a desired feature in homes are gone. Most buyers see carpet as a frustrating item to remove and replace. Many times, the carpeting holds stains and odors that cannot be disguised. In order to avoid these issues, consider increasing the value of your home by adding laminate, vinyl or hardwood to the floors. Laminate, vinyl and hardwood floors look neat and clean, which may lead to higher bids on your home when selling time arrives.
5. Messy Curb Appeal
Your home’s value will drop when it has poor curb appeal. Take a look at the property’s exterior from the sidewalk or the road. Peeling paint, declining rooftops, termite-infested wood or a messy yard are all factors that will lower a property’s value. Leaving appliances on the lawn or placing a couch on the front patio are just a few examples of how a messy appearance may deter potential buyers.
6. Unusual Interior Accents
You may be thrilled to hang unusual wallpaper or paint the walls in a deep-purple hue, but before making any modifications consider the home’s value first. If you plan on selling the home in the near future, these unique accents may turn off potential buyers. In fact, the home might sell for significantly less in some cases. It is suggested that a future seller decorate the property with an eye for neutral colors and accents. The home’s value might gain in strength as a result.
For any concerns about your home’s value, contact an Orlando real estate lawyer, such as Nishad Khan P.L. The lawyers at Nishad Khan, P.L. can help you with pinpointing issues and solving them with the law on your side. Your home’s value deserves to increase over time with a law expert by your side.