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March
1

6 Things That Could Decrease Property Value - Haring Realty

Your home is as much an investment in your comfort as it is your financial future. Over the years, you'll make changes and alterations to your home that reflect your tastes and interests. However, our REALTORS® have seen time and time again situations where homeowners have gotten a little too comfortable. And, in the process, decreased the curb appeal and market value of their home. As you consider all the changes and alterations you can make, the following are six we strongly advise against.

  1. Skipping Quality Paint
    Saving money on the interior and exterior paint is penny wise but pound foolish. You will save money when you buy it, and you'll save even more money when you paint the walls yourself. However, low-quality paint doesn't last as long as more expensive options. And a professional installer will make sure the coats are even and that the finished paint job both protects your home and creates a durable, long-lasting finish that won't peel, fade, or fall away.

  2. Ignoring Maintenance
    Whether it's a sputtering HVAC system, flickering lights, buckling floor, or cracking foundation, your home requires regular maintenance. Neglecting it can result in extensive damage to your home. This not only raises the cost of repairs but also increases the likelihood that the damage will require extensive and costly renovation to correct.

  3. Neglecting the Yard (or Doing Too Much!)
    Brown spots, dead shrubbery, and overgrown trees make your home look neglected and uncared for. The home may be in pristine condition, but if the landscape doesn't reflect this, it will leave a bad first impression. Likewise, doing too much creates a distracting and often overly personalized landscape. Landscaping should be subtle and reflective of the home itself. If it's overly personalized with statues, koi ponds, pergolas, etc., it can become too much of a hassle to change to meet a prospective buyer's tastes.

  4. Converting the Garage
    Garage conversions have become popular over the past year as people converted garages into home offices, gyms, playrooms, etc. While beneficial in the short-term, the long-term reality is that garage space loss makes the home less appealing to prospective buyers. Thus, if you opt to convert your garage, make sure that it's easy to convert it back to garage space or build a new garage space to replace the old one.

  5. Too Exotic and Kitschy
    Maybe you adore the romance of Italian villas or fell in love with the golden glamour of Kyoto. But, how many people in Ohio share your love of these foreign cultures? The more you customize your home to meet exotic tastes, the more narrow your list of prospective buyers becomes.

  6. Not Choosing Your New Home Carefully
    Many of the things that can lower your home's value are things that are completely out of your control. You can't control what your neighbors do on their own property. However, you can control your choice of home. Choose homes in neighborhoods as far away as possible from negative factors such as highways, train tracks, etc. Proactive purchasing gives you some protection against the things you can't control.

 Curious what Mansfield and Ashland homes for sale look like these days? Contact us, and our real estate team will tell you more about the properties we recommend to our clients. 

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