For most home buyers, the future home value is not at the top of their priority list. Home value, essentially home equity, should be a key player in the home buying decision. In fact, most home buyers would be surprised at some of the common features that can actually decrease the value of the home.
Most homes in Florida do have swimming pools or access to a community pool. While swimming pools are a desired feature in Tampa, especially with the summer heat, a pool can be seen as a nuisance. In ground pools mean constant maintenance and other associated costs which can drive away buyers. Considering Florida is one of the most popular states in the U.S. for retirees, you can imagine how a pool would not be a preferred feature.
Safety is another pool related concern. Many families with young children don’t like the idea and potential hazard a pool can create.
This feature is important for both the home seller and buyer. If a home does not have a garage it could be worth the investment to have one added to the home. Most home-buyers not only enjoy having a garage but also need one. A garage serves as protection for a car, extra storage, a workshop, and sometimes all the above at the same time! While turning a garage into a living space may seem like an attractive idea it could make the house much harder to sell.
Expanding a room
You may think expanding a room would only increase a home’s value but that is not always the case. If you get rid of an essential room like a bedroom or bathroom to do so, you may only be decreasing the value of the home. For most home buyers, especially first-time home buyers, bedrooms and bathrooms are essential. Getting rid of an essential room to increase another room’s size may seem like a good idea at the time but could hurt you in the long run.
Your home is a place of self-expression – and rightfully so. However, sometimes your style may not appeal to a home buyer. While many changes are simple aesthetics, visuals play a huge role in selling a house. This could mean painting a wall, packing away some decor, or taking down wallpaper. Don’t be afraid to make these changes if it means potentially selling your home faster.
Landscaping are among one of the top three investments that bring the biggest return. In fact, according to HomeGain, an investment of a few hundred dollars on landscaping can bring a return of four times that. If this is the case, you can imagine that not taking care of the surroundings can significantly decrease a home’s value.
When you hire Divinity Inspections we make sure to detail, both in our report and directly to the home buyer or seller, what could potentially decrease or increase the homes’ value.