Admin

What Lowers Property Value

By
Real Estate Agent with Realty One Group # S.0190863

What lowers property value? Besides a plunging market, you can make mistakes that hurt your property's value. Here we will take a look at some of those common mistakes.

You're a homeowner now. You can kiss bland uniformity goodbye once you hand your keys to your now-former landlord. The world is your canvas. At least, the part you now must pay a mortgage on. You're the artist. You'll shape it to delight the senses.What Lowers Property Value

You may have big dreams for that new home, but cool your jets. This is a time for careful thought, not for quick, modern design notes on cocktail napkins. You can make changes to update your new home. But, some may lower its value. This is no small thing.

If you thought that ugly light fixture was a turn-off, read on. Potential buyers will find some things very unappealing.

There’s Good, There’s Bad and There’s Ugly

Every homeowner will leave a mark on the homes they own, this is an inevitable fact of life. The only question you need to ask yourself is if your mark will be a good one. Will you be the homeowner who planted a gorgeous maple tree that became a beloved climbing tree? Or, are you the one who glued neon green shag carpet to the hardwood floors?

We made a short list of some easy, dramatic ways to destroy your home's value. We hope you can avoid these when you sell. Now, this is an important point to note: if you’re in your forever home, go hog wild. If you don’t need to sell that puppy ever, feel free to do whatever thrills you. Your wild choices could block options like refinances and reverse mortgages later.

Having made those disclosures, let’s talk about home value-destroying projects!

4 Things That Can Lower Your Home’s Resell Value

Now that you own a house, people will be giving you all sorts of weird advice. You’re going to have to learn to tune it out, because generally, random people don’t know. Most people own two or three homes in their lives. So, they lack much experience with market values and upgrades that make a house really pop.

Realtors, contractors, and other home pros know what's in and what's a timeless, classic fix. These are the people to ask when you really need a second set of eyes.

Related: Selling Your Las Vegas Home

But, before you even get that far, let’s count down some of the worst ideas for your new home.

What Lowers Property Value - #4 Really Personalizing the Place

Look, we know you’re eager to make your house your own. But step away from the lime green wallpaper and the orange tiles. Just for a minute. Think this through. Some buyers can see past over-personalization. However, others simply cannot. Realtors once advised sellers to paint everything beige. It creates a blank palette for buyers to start from.

If you want to use quirky wallpaper, choose something that’s easy to remove when you go to sell. Choose a mostly neutral tile. Scatter the orange ones like confetti. In short, tone it down a bit. However, feel free to paint to your heart’s desire — just plan to repaint before you put the house on the market.

A buyer's first impression of your home shapes their thoughts as they walk through. They’re simultaneously calculating two things in their heads: “How much can I afford to pay for this house?” and “How much will I have to pay to fix this place?” Each intolerable thing they encounter, like that orange tile, adds to the repair budget. As it grows, the price they’re willing to pay shrinks.

Oh, you left the flamingo wallpaper in your bedroom? The repair budget is getting pretty heavy. And these are just the visible things. They haven't yet started the inspection period. The point here is: do you, but do it in a way that can be reversed before anyone shows the house.

What Lowers Property Value - #3 Converting the Garage to Anything Else

There’s a difference between using your garage as a gym and making it a gym permanently. When it’s a permanent gym, you can’t push some stuff out of the way and pull the car in real quick to get it out of the rain. In fact, you probably don’t even have a garage door anymore!

Many have made this hasty decision. They've turned their garages into master suites, gyms, playrooms, and offices. They did not consider the long-term effects. After spending thousands on the project, they find it hard to resell their homes.

No matter how well the conversion was, the buyer thinks, "Where will I stash my lawnmower?" Even if the yard is tiny, it's a valid question.

Buyers have expectations when (READ MORE HERE)

Posted by

For more information, EMAIL ME      
And see my latest information at:  

CLICK HERE to see what your home is worth
CLICK HERE to search for Las Vegas area homes

Show All Comments Sort:
Sham Reddy CRS
Howard Hanna RE Services, Dayton, OH - Dayton, OH
CRS

Thanks for sharing Rocky!!! We miss you on AR zoom calls my friend!!!

Every homeowner will leave a mark on the homes they own, this is an inevitable fact of life. The only question you need to ask yourself is if your mark will be a good one.

Jan 22, 2025 04:17 AM
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good morning Rocky. Sometimes common sense needs a wake-up call when it come to some off the wall ideas for decorating. Enjoy your day.

Jan 22, 2025 04:18 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

choice of paint colors I have seen effect a home value. Great information. Thanks for sharing and enjoy your week!

Bill Salvatore, Realtor- Arizona Elite Properties

Jan 22, 2025 04:48 AM
George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Rocky along the same lines as converting the garage to a bedroom, living room, etc, is taking down a wall and going from a 3-bedroom house to a 2-bedroom house.

Jan 22, 2025 09:27 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Rocky -- recent buyers need to read this. Major renovations/changes that a seller is not willing to address can hurt a sale. The color of paint can be remedied BEFORE listing the home. However replacing a wall is not as easy or cost-effective. 

Jan 22, 2025 11:28 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good evening Rocky,

Excellent post on what can lower Property values. Buyers purchasing a home need to take these things into consideration.

Jan 22, 2025 07:24 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker
Great information, thanks for sharing.  I hope you have a great day.
Jan 23, 2025 02:47 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Your clients should rely upon your advice heavily so that they won't lose value in their property without knowing it, haha.

Jan 23, 2025 04:52 AM