As a homeowner, you do not want to do anything that is going to lower the value of your home. Unfortunately, many people do it all the time. Read on to learn about some of the most common ways you could be reducing the value of your home without even realizing it. If you have questions or want help selling your home, contact Berkshire Hathaway HomeServices at (310) 373-0021 for help. ‘
Not Maintaining Your Home
The old saying, “If it ain’t broken, don’t fix it,” does not apply when it comes to keeping up the value of your home. If you skip regular maintenance and find that you are out of code, your HVAC system is damaged, you have termite damage, weed rot, a cracked driveway, leaky plumbing, or a decaying foundation, this could all significantly lower the value of your home.
Investing in Home Improvements That Are Not Up to Code
If you upgrade your home, it is essential that you get the proper permits and follow all applicable building codes. If you choose not to do it, you could end up losing money in the long run. Why? Because if you add an addition without a legal permit, then that addition will not count as added square footage in your appraisal. A savvy buyer who knows that work was done without a permit will have a strong place from which to negotiate.
Remember too that if something goes wrong, such as a pipe bursting or an electrical fire starts, and it was caused even in part by a code violation, your homeowners’ insurance will not cover it. In fact, illegal construction can void your entire homeowner’s insurance policy.
Leaving Your Kitchen or Bathroom Outdated
Buyers don’t mind “vintage” in many places, but that is rarely true of kitchens or bathrooms. If your home is more than two decades old and it has original cabinets, countertops, and fixture styles, then it is time for an upgrade.
Many sellers think it doesn’t make much of a difference, but you could have an entire home that is tastefully updated with a single room that stands out like a sore thumb. That sore thumb is going to be what the potential buyers go home talking about.
Learn the Best Tips for Selling Your Home
If you are planning to sell your home, we recommend contacting Berkshire Hathaway HomeServices at (310) 373-0021 as soon as possible. We can help you determine if any issues are significantly reducing the interest in or value of your home and help you make a choice to move forward. Call us now and learn more.