When you want to sell your property, you hope that everyone will see its value, just as you do. You might believe that all you need is some home fragrance to make your home smell fresh and lovely and a bit of tidying up. However, you should know that certain things can hurt your property’s value, or at minimum, not help to show its full value to prospective Buyers. While you might not even be aware of them, they can have a significant impact on the price of your property. To get the best deal when the time for sale comes, make sure you are familiar with the things that can bring down your home's price tag, and work to minimize them in your home.
Unpleasant smells can hurt your property value
Offensive smells leave a lasting impression and can decrease the value of your property. It might be the pet odor, mold, or cigarette smoke. Keep in mind that strong home fragrances might mask the odor, but they might also signal that something is wrong with the home. The safest way is to remove the source of the smell and thoroughly clean your house. Dusting and vacuuming regularly will help, as well as wiping down and disinfecting the bathroom and kitchen. You can consider hiring professional cleaning services to take care of your home before you decide to open your door to potential buyers.
Renovations not executed properly
Many homeowners decide to do significant renovations for the purpose of increasing property value. They might choose to build a deck or remodel a kitchen, but it might not have the desired effect. The first reason for this is that they're not really skilled enough to undertake a major DIY remodeling project. Another reason is that the repairs are, although executed properly, maybe too personalized or unappealing.
The way to avoid this is to hire professionals to undertake this kind of project. But before that, check out what real estate agents recommend. After you find a trustworthy advisor, you might realize that some of your ideas wouldn't really increase the value of your NYC property, as you initially thought.
Contact a real estate agent and ask for their opinion. They can offer you a lot of help during the process of selling your property. With their knowledge of the NYC market, they can provide invaluable information on what is currently hot on the market. If you take the agents' advice, you have a better chance of getting a higher price for your property.
Excessive clutter
Excessive clutter can hurt property value, and every home has accumulated unnecessary items
throughout the years. While you stop noticing them after a while, a potential buyer might get the
impression that your home is cluttered.
Decluttering is not hard; it just takes some of your time. A professional decorator or organizer
can take care of this, and as a result, you will add value to your home. You can donate, sell, or
throw away any unnecessary items.
Kitsch design
The minimalist design is perhaps, the best way to go. Avoid personalized decoration and quirky wallpapers. You want the buyers to be able to picture themselves living there, which might be challenging if your style is present in every room. An excellent way to deal with all those sentimental and personal mementos would be to rent a temporary storage unit and place them there until you have sold your home.
Poor maintenance of the exterior
Remember that the exterior is the first thing on your home that potential buyers see. If the paint is peeling, cracked, or faded, the buyers will not get a good impression. It's also a bad idea to paint your home in bold colors; stick with neutral and more popular colors, such as white, gray, cream, or beige.
An unattractive yard
It makes sense that an unattractive yard is one of the things that can hurt your property value. While a yard that's in bad condition might repel buyers, landscaping can prevent this. However, keep in mind that trees that are too close to the house can negatively affect your property's price as well, as they might present a potential danger in the buyers' eyes.
Take care of the things you can
Prices of property fluctuate as a result of many different factors, and it's essential to know the things that can devalue it. Some of these things will be absolutely out of control, like the neighborhood, interest rates, market conditions, and the economy. However, some of the factors are absolutely in your control, so there's no reason not to take care of them.
We Can Help You Bring Your Home to Market with Our Exclusive Compass Concierge Service
Compass Concierge will assist you with the execution of a tailored plan for updating and staging your home for prospective buyers. We will front the costs associated with home-selling improvements and collect a fee for the services rendered at the time of the property’s closing. House preparation services include staging, painting, deep cleaning, landscaping, and decluttering.
How It Works
Our team will develop a tailored project plan with suggested home improvements and updates to prepare your home for the market.
You will contract directly with home improvement service providers.
Compass Concierge will pay the associated cost for home improvement work performed subject to your agreements with home service providers.
At the closing of the property, Compass Concierge will collect a fee that covers the cost of the work performed.
This is just scratching the surface of what this exclusive service can offer our clients. Additionally, while Compass Concierge helps Sellers, there are also ways that this program can help Buyers as well.
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