Top Things That Decrease the Value of Your NJ Real Estate
7 things to avoid decreasing your NJ Real Estate value
Every homeowner looking to sell wants to boost the value of their home in order to make their home stand out above the rest and sell their NJ Real Estate property for the most amount of money. Although there is much information to be found regarding home improvement and slowly moving up the property ladder, the other side, referred to as over-improving, is frequently neglected. The following is a list of things that can have a damaging effect on the price you ultimately sell your NJ Real Estate for:
1. Undesirable location
The Golden Rule of NJ Real Estate is location, location, location. If your home has a unique layout not suitable for the general public or is in a bad location such as on or near a busy street or bordering a liquor store, you're not going to get the same price as homes with a good layout and in a good location. For example, if the last four homes sold at $300,000 but you feel they are not comparable to your home because it is updated, but they were located on a quiet street and you are on a busy street, your home is most likely worth about the same.
2. Environmental hazards
One of the main factors that can have serious detrimental effects on the value of your NJ Real Estate is environmental hazards that are harmful such as: asbestos, lead, radon, hazardous waste, mold and ground water contamination.
3. Poor maintenance
Outdated items such as appliances and paint are things that can impact the price you will ultimately get for your home. Also, roofs are expensive to replace but is considered an essential part of the home and must be in good condition. If your hardwood floors are scratched and dull from years of neglect or your walls are stained from years of smoking, buyers will consider this when and if making an offer on the home. In addition, it is important that the foundation does not contain any major cracks or crevices as this can be a significant issue during a home inspection.
4. Having a pool
Having an in-ground pool impacts the chance of selling your home fast as the market of potential buyers is limited because some people view swimming pools as an expensive form of maintenance with high liability. In the end, having a swimming pool may not necessarily yield more money in the sale.
5. Unfinished or unprofessional home improvements
When buyers come to see your home for the most part, they want to ultimately be able to move right in and not have to perform improvements that you may have neglected or have had done unprofessionally. These things will be considered as added costs for the prospective purchaser. This is especially true with the first-time buyer market as they are probably stretched thin financially to begin with. It can benefit you greatly in the long-run to get these things done as soon as possible before you market the home for sale.
6. Having no garage
In the average single family home, a two-car garage is a highly sought-after feature many buyers look for. Having a garage that is too small or even not having one at all, will affect the value of your home and the price that it will ultimately sell for.
7. Overly personal or outdated decor
To you, having a purple or blue painted room could look nice, but many people will be turned off by this. Unique decor should be kept to a minimum as this can limit your buying pool. Homes with neutral furnishing sell quicker as they appeal to the majority of people. Also, outdated items such as kitchen appliances that are broken or in shabby condition will steer people away and prolong the sale of your home.