Factors That Decreases Property Value

In our current economy it is difficult to sell a home individually or on the “real estate market”. No one would want to put their “property for sale” and make the selling of their home or “property” any more difficult by doing things unintentionally that would decrease their property value and also decrease their chances even of selling their property. Property owners who want or need to sell their property want to do all they can in to make their property’s value increase. One big thing that will decrease your property value and may prevent you from selling is the neighborhood. If there are many “house for sale” signs or foreclosure signs in yards this will bring your property value down, as these homes no doubt will lack the ownership care enhancing neighboring homes. Where there are empty homes there many times is found squatters and vandalism of the empty homes. If there are too many homes in the neighborhood that you are considering that have signs saying “apartment for sale” or “apartment for rent“, beware that rentals in itself will drive down your future home’s value. A noisy neighborhood is another big factor, such as is it near an airport where planes are flying over the homes at all hours? Is there a local fire department, police department, a hospital, or a long term care facility near by? Is the home located on a very busy street or noisy highway?

Other things that may decrease property value are:

. High crime rate in the neighborhood
. Sex offenders in close proximity to your home
. How many homes in the neighborhood are in disrepair
. Are there empty businesses near the home
. How near is the home to public services as this will increase value
. Bright and gaudy paint on walls
. Gaudy wallpaper or badly applies wallpaper
. Broken or peeling floor tiles, or badly stained rugs
. Cracked walls with bad replastering of cracks
. Outdated lighting fixtures
. Outdated wiring and plumbing
. Clutter on the outside property, and neglected lawn, garden and or flower beds
. Clutter inside the home or a dirty home
. Offensive home odors, such as pet or smoke odors
. A dirty and unkempt home
. Installing cheap storm windows
. No or little insulation or insulation plugs on outside walls that have not been covered
. Poor roof repair
. High property taxes
. Leaky basements, cracked foundations, presence of black mold
. Badly settled foundation

There is no better way to invest one’s money then in the real estate market. But, one must be very careful and look at all the things that can drive put property on a downward spiral, causing the investor to lose much of their investment, such as cheap and tacky home improvements.