7 things people do that make their homes less valuable

7 things people do that make their homes less valuable

Bestanews.com– 7 things people do that make their homes less valuable. In 2013, Josh Dotoli started the real estate company Dotoli Group. Since then, the company, which has its headquarters in Fort Lauderdale, Florida, has regularly ranked in the top 1% of sales production across the whole country. Through the completion of more than one hundred acquisitions in a single year and a total of two hundred million dollars in closed transactions in 2022 alone, it has established itself as the most successful brokerage in the counties of Broward, Palm Beach, and Miami-Dade.

Even though Dotoli encourages his clients to add as much value as they can to the properties that he sells in the vital year before listing, he has seen a considerable proportion of them engaged in activities that have the exact opposite effect. This is something that Dotoli has witnessed.

In accordance with Dotoli, “It is the goal of the majority of homeowners to increase the value of their homes; however, there are a number of actions that can have a negative impact, causing the value of your home to decrease in a period of less than one year.” “Here are some ways that you can reduce the value of your home,” the author adds in the conclusion of the document.

Failure to Perform Maintenance

Small problems usually become major problems if given enough time, and one of the least productive ways to spend a year is to let an issue fester. This is because allowing an issue fester is one of the ways that a problem can become more difficult to solve.

According to Dotoli, “the value of your home can quickly decrease if you do not address and address any necessary repairs and maintenance issues.” This involves overlooking concerns such as leaking roofs, broken roofing, plumbing issues, or electrical problems. Some people think that ignoring upkeep will cause bigger, more expensive problems in the long run.

A Home That Is Excessively Personalized

In spite of the fact that you are selling rather than buying, you are head over heels in love with the industrial graffiti mural that is hanging above the couch in the living room and the hot pink avant-garde bathroom decor that you have.

As pointed out by Dotoli, “Highly personalized renovations or design choices, such as one-of-a-kind paint colors, unconventional layouts, or features that are overly niche, can limit the appeal of your home to potential buyers.” It is essential to strike a balance in order to attain a balance between one’s own style and the broad market appeal that one should strive for.

Ignoring the Appeal of the Curb

The first picture people see of your house when they pull up will tell them what they think about the whole thing. Why else would you let your messy landscaping and moldy, dirty hardscaping fall apart so badly? What are you leaving to rot inside the house?

“Ignoring the outside of your house can turn off potential buyers,” said Dotoli. “This includes not taking care of the lawn, letting the landscaping get too wild, or letting the outside get worse.” The first picture of your house may make people not even want to look inside.

DIY-ing More Than You Can Do

Just because something looks easy on HGTV doesn’t mean you can do it. It’s good to save money and play fair when you do jobs yourself, but make sure the end result doesn’t look like a beginner did it.

“Do-it-yourself projects can save you money, but renovations that aren’t done right can make your home less valuable,” Dotoli said. “Doing a bad job or cutting corners can cause problems that will cost a lot to fix later.”

Lack of energy-saving improvements

Most people who are buying something now care a lot about features that save energy, are good for the environment, and lower power bills. What people don’t do in a year, not what they do, is what makes their homes less valuable in this case.

“In today’s market, where people care about the environment, homes that aren’t energy-efficient may not be as appealing to buyers,” said Dotoli. “If you don’t replace your windows, insulation, or heating and cooling systems, it could lower the value of your home.”

Adding Structures Not Allowed

Any changes that are against the law will be quickly seen by a good agent. This should send huge legal, financial, and safety alerts to the people they buy from.

Dotoli stated, “Building additions or structures without the right permits can get you into legal and financial trouble.” “Work that isn’t allowed can lower the value of your home and make it harder to sell.”

Setting a price that is too high

And finally, sellers sometimes make the mistake of being too sure of how much their home is worth right before they put it on the market at the end of the year. Setting too high of goals can make your item stay on the market longer than it should. Set goals that are just right.

Dotoli added, “Asking an unreasonable high price for your home can turn off potential buyers and cause it to sit on the market for a long time, lowering its perceived value in the end.” People can make their homes worth less in less than a year if they don’t make simple repairs or set prices that are too low. They don’t have to, though.

Dotoli added, “If you want to keep or raise the value of your home, it’s important to prioritize regular maintenance, think about what potential buyers want, and make smart choices about renovations and improvements.” “A real estate agent or appraiser can give you good advice on how to keep your home’s value high and raise it over time.”

Leave a Comment