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10 Shocking Mistakes Killing Your Home’s Resale Value

As with life, there are some things in our control and others not.  When it comes to resale value, some things you can improve on and control but others are not.  Not only is this important to know when selling and how to strategically market your home but also, just as important to know as a buyer.  I always tell my buyers to buy with resale in mind.  You the buyer may become a seller at some point again in the future, therefore, it’s very relevant to know.  So what are some mistakes owners often overlook or not accomplish that affects their resale value?  Here is my list!

  1. Deferred Maintenance: Ok, this one might not be as shocking as others, but not fixing issues around the house like leaky faucets, missing siding, water spots, broken door handles, etc, can kill your resale value.  It tells the buyer you have not kept up with maintenance and they worry more could be wrong with the house.
  2. Poor Exterior Paint/Curb Appeal:  I’ve spoken a lot on my blogs about the importance of curb appeal.  Same applies here…make sure your yard is in tip top shape and take a good look at your exterior paint.  Peeling exterior paint is a sure fire way to put a bad taste in a buyer’s mouth.
  3. Unpleasant Neighbors: This is one people often forget about because it is mostly out of their control.  If you have a neighbor that has a junky yard, lots of cars parked outside, has loud parties, is on the sex offender list, and in general is not keeping up on maintenance on their own house, it can be a huge turn off for a buyer.  Again, not much you can do about it, however, if you have any type of relationship with them, you could use the excuse that you’re getting ready to list and that your real estate agent suggested that you ask neighbors to also clean up their yards.  Blame it on us!
  4. Proximity to Certain Things/Unsightly Structures: There are some things that buyers just don’t want to be close to.  Things like power lines, cemeteries, a bad school district,  power plants, cellphone towers, etc.  These are great things to look out for as you are buying a property as you cannot change these.  If you are selling something that is close to unsightly structures, it is important to know the market and price it well and consider making sure your home has some type of wow factor that a buyer can’t walk away from.
  5. Too Much Personalization in Home:  Sellers often forget that not everyone likes the bright purple wall paper in your bathroom or your extensive collection of cat decor.  Buyers like things neutral…why?  Because this helps them imagine themselves in the home with their items in it.  Buyers will also walk away remembering the unique item in the house and not what the house had to offer them.  Keep it neutral!!
  6. Non-usable Garage:  If you have turned your garage into a man cave, a gym, or something else that is not intended for parked cars, it can kill your resale.  Buyers will just be thinking how they’ll have no place to park and the money it’s going to take to turn it back into an actual garage.
  7. Too Much Carpet:  Most people prefer non-carpet flooring throughout most of the house.  The reason for this is because it is much easier to wash and keep clean.  It also reduces that amount of allergens inside the house which is quite a problem here in the Midwest.  Carpets tend to trap smells too so if you’ve ever smoked in your house or have pets, it might not be a bad idea to consider getting rid of the carpet if in bad shape.  At the very least, have it professionally cleaned.
  8. Cracks in Driveway and in Garage: If you have a large crack or many smaller cracks in your driveway or garage, buyers may assume there is some type of major issue going on.  Most likely, it is not that big of a deal but a buyer adds in not only the actual cost of replacement but also an inconvenience fee, whether they realize that or not.  Consider sealing those cracks or contacting a professional about how much it would be to repair.
  9. A Pool: Believe it or not, many people do NOT want a pool.  Having one can sometimes eliminate your listing for a buyer.  Again, this is one you can’t really control but making sure it’s in working order and not overpricing your property just because it has one is crucial.
  10. Street Traffic and Noise:  Being on a busy street, dealing with traffic everyday and the noise is a big turnoff for buyers.  Much is out of the control of the seller but a seller could consider some updates to the yard that include adding privacy, whether that be fencing or plants, and upgraded windows to cancel sound.  

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