These variables can hurt your home’s resale value.
When calculating the value of your home, there are a lot of factors that come into play. For instance, things like your home’s location, the condition of the real estate market, and comparative home values in the area will all affect what your home is worth. In addition to these obvious factors, there are some other surprising variables that can have a negative impact on your resale value. Here are some of the unexpected things that could affect your home’s worth.
- Clutter
When your home is cluttered and messy, potential buyers will have a hard time looking past the disorganization. This bad impression will hinder your ability to sell your home. In fact, surveys show that homes that are professionally staged and organized actually spend 73% less time on the market than homes that are not. So, for the best chances of selling your home quickly and at the best price, you should thoroughly clean and declutter your home.
- An Empty Home
Ironically, while clutter is a turn off for buyers, so are completely empty homes. Oftentimes, empty rooms can actually appear smaller and can make a home seem barren and sad. To help buyers visualize your home’s potential, you should keep your home furnished and decorated. When a home looks move-in ready, buyers are far more apt to put in an offer for the home’s list price.
- A Converted Garage
While it may have made sense for your family to convert your garage into an additional living space, chances are this will not sit well with buyers. Even if you have all the necessary permits, converting your garage is not a smart resale strategy. Typically, buyers prefer having a place to park over an additional recreational or living space.
These are some of the factors that can negatively affect your home’s resale value. Are you looking for a new home? If so, then you should also be shopping for a new homeowner’s insurance policy. For assistance with all your home coverage needs, contact the experts at VGW Walker Insurance in Texas today.
