THESE Factors Can Negatively Affect Your Home Value

by Mar 13, 2017

Millenial homebuyers are smart. They know what they are looking for in terms of home value and many are in a position where they can wait to find what they want.

With that in mind, millennials are set to become the majority of the homebuyers on the market. They are going to carefully look for what they want in a house. If you want to be able to sell your house (especially to a millennial), you need to realize how the following things can impact your asking price and overall home value.

Location

This is a factor that you cannot control, but it has a large impact on your home value.

If your home is close to a good school district or within walking distance of great shopping and restaurants your home will be worth more than one that is located right next door to a garbage dump.

Outdated

Having an outdated house doesn’t even mean anymore that it is from the 1970s; at this point it could be designs from the early 2000’s.

Anything that is outdated can be a major turnoff to buyers. The result: their feeling like they will need to do cosmetic updates to the entire house after buying.

Many buyers are looking for a move-in ready home and will not want to take on this task.

Décor that is too “You

Homeowners like to style their houses the way they like, but when it comes time to sell it is important that you remove your personal stamp.

Your favorite color might be orange, but many people don’t want to walk in to your house to find orange paint on the walls.

Taking time to depersonalize your house before listing it can make a big difference to your bottom line.

Odd House Out

If your house is not like any of the others in the neighborhood it could actually hurt your home value. When all the houses in an area are the same that is usually what buyers in the area are looking for.

The other difficulty is that even if you find the right buyer it can be hard to appraise. Appraisals take into consideration the prices in the neighborhood and if your home is unlike any of the others it can skew the home value.

Too Big (or too Small)

It might sound a little like the Goldilocks story, but buyers are looking for a house that is sized just right. If your house is too small it will lower the home value because there is less of a market of buyers.

Meanwhile, if your house is too big there will be less people that are interested in buying it, or who could afford buying it. When your house falls in the middle, the price does too and that makes it appealing to a larger amount of buyers.

Some of the things that affect your home value are in your control to change. Unfortunately, there are also factors that you cannot control. That means it is that much more important to control the things that you can to help increase the value of your house, while bringing you the right buyer faster.

Recent Blog Post

Certified Cash Home Buyer Program

Certified Cash Home Buyer Program

You may be asking yourself what is a Certified Cash Home Buyer? And, really it's Anchored Homes' personal guarantee and company promise that everybody here at the Anchored Homes team is going to treat your situation and your property and the overall transaction with...

The Advantages Of Working With A Cash Home Buyer In Melbourne FL

The Advantages Of Working With A Cash Home Buyer In Melbourne FL

A home sale can be an emotional, time-consuming, and stressful experience. As soon as you put your home up for sale, you’ll need to contact a real estate office, follow the terms of the realtor’s contract, and wait for months to receive the cash. Do you have the...

WE BUY HOUSES FAST FOR CASH

Enter your information below to received your fast cash offer!