First, you should contact a trustworthy local real estate agent. They can help you get your plan together to sell your home for the greatest financial return. But, let’s say you’re not to that place yet. What should you watch out for? Maintenance issues can majorly devalue your property.
What Maintenance Issues Devalue Property?
Deferred maintenance and neglect can wreck the value of your home. Make sure your yard is in shape (not overgrown) and you don’t have peeling paint. Visibly rotting wood is another big concern for potential buyers. Basically, anything that can make it seem like your home is more of a “fixer-upper” can be a problem. You’ll see offers coming in well under your target listing price. Of course, experienced Culver City real estate agents can offer guidance.
If you’re considering selling your home, do a walk through. Pretend it’s a stranger’s home and critically look at every possible concern. That small drip from your water heater? If you’ve been planning to fix it for a few weeks, this is your call to do it. No one wants a small leak reaching the foundation and causing it to crack. The best strategy? Maintain your home proactively. Look for places where damage might occur and make sure it’s secure. Replacing anything broken will be expensive and/or drive down the value of your home. Need a checklist?
What to Maintain to Help Your Property Value
- Check for pests and termite damage
- Look for decaying wood, mold, or a crumbling foundation
- Check on your HVAC system
- Repair leaky plumbing, cracked driveways, and rooftops (missing shingles look sketchy)
- Ensure your wiring is in good condition
What to Do About Property Issues
You took a walk through your home and your inspection discovered issues. Now what? Address them. Especially anything that could fall into red flag territory. If you’re not sure which to prioritize then it’s time to reach out to a top real estate agent.
How Can Renovations Devalue Property?
You spent time and money personalizing your home. It could have been a sizable chunk of cash over several years. Unfortunately, those renovations could become an albatross. The first thing to check is whether you have any unpermitted additions or garage conversions to think about. In the state of California, unpermitted square footage, ADUs, or major remodels can hurt the value of your home. Appraisers may not count the area and buyers may fear future enforcement or insurance issues. The obvious solution here is to get permits for the work if possible.
Another possible way renovations can devalue a property is if they’re overly personalized. One of our employees had an ex who painted the inside of her house bright purple and blue with shiny gray tiles. An outlandish color scheme may work well in certain settings, but it isn’t what makes most people feel at home. There are tons of TikToks about homes for sale with unusual personal decisions. Don’t be one of them. Make sure the colors in your home are neutral and inviting and that nothing stands out as too unusual or out there.
What if the renovations you made to your home were up to code and were aesthetic, could they still devalue your property? Maybe. It comes down to the quality of the workmanship. If it’s low quality or mistakes were made then you can expect that renovation to decrease value instead of increasing it. Buyers are known to look for any and all issues to negotiate prices down. So, make sure nothing is warped, crooked, or uneven.
What Devalues a House the Most when Selling Your Home?
Assuming you’ve already covered maintenance and renovations, there are three other key factors we see bringing down the value of people’s homes. When things are bad, weird odors, and poor curb appeal. Let’s break those down.
When things are bad it devalues a home. Bad, of course, is a subjective term. A good way to make sure your home isn’t in “bad” territory is making sure that your kitchen is modern in aesthetics and appliances. You don’t want to run the risk of seeming tacky or outdated. These are straightforward issues that can reduce the value of your property and make buyers pass on it.
One thing our team always recommends looking into is smells. You can become “noseblind” to the smells around your house. Dirty clothes and animals can leave behind a constant scent that potential buyers will pick up on. You need to make sure that your home doesn’t have any offensive smells. If a house had a poor smell it’ll struggle to sell at a price you want. Savvy buyers will of course know to make lowball offer.
One of the final issues that can devalue a home is poor curb appeal. Have you been maintaining the exterior of your home and property? You need to do consistent landscaping and get rid of dead trees. Of course, you also need to know what not to say when selling a home.
What Can Increase Property Value?
Now that you’ve brought your home up to par, let’s take a look at what homeowners should do before they list their home for sale. Professional cleaners and new paint can go a really long way. Also, if you’re selling a home in the West LA area (especially Culver City) then you should contact Martin Feinberg at 310.729.6573.