Ignite FB Tracking PixelCommon Things That Reduces the Value of A House - Erin Fernschild
Common Things That Reduces the Value of A House

by Erin Fernschild 03/31/2019

When trying to sell any property, getting the best deal is what you should try to achieve. However, this is not usually the case every time. There are factors, some within and others outside your control that could reduce the overall face value of your house.It helps to know some of the essential things that might prevent you from getting a good deal on your property.

1. Noisy Neighbors

Noisy neighbors are downright annoying and a turnoff. It is one of the external factors that reduce the value of a property. While there is nothing much you can do about this, it can reduce the overall value of a house by 5 to 10%.

2. Registered Sex Offenders

The presence of sex offenders generally limits the value of a home. That is not surprising as no one wants to stay in areas that have a terrible reputation due to that kind of crimes. Records have it that the presence of a sex offender can limit the overall value of a house by as much as 12%.

3. Horrible Schools

Many home buyers give massive preference to top quality schools before choosing a house. Records have it that home closer to high-quality school do benefit from the proximity. An area with good schools increases the overall face value of the property because it becomes attractive to families with children. The reverse is the case as well. Houses in the same neighborhood as low ranking or bad quality school are not usually valued high.

4. Some Renovations

Although renovations add to the overall value of a house, some upgrades can repel prospective home buyers. An example is a swimming pool in environments with cooler climates is a turn-off. This most times is due to the expensive upkeep. Besides, if you have gone overboard to maintain your lawn or garden, it could repel prospective homeowners. The maintenance obligation that comes with owning a carefully tended lawn can be discouraging to some potential buyers.

5. Unusual Colors

Bear in mind that the first things a buyer notice about your home is the color. If your house color stands out excessively among the house or properties in the neighborhood, it could affect the price negatively. Unpopular colors also apply to the interior. With odd colors inside, many potential buyers would dread living in it. Poor color choices might reduce the overall value of your property as the buyer will need to consider the cost of repainting.

Some of the things that affect the overall value of a home are out of your control. However, you can do all in your capacity to make the ones in your control work in your favor. Speak with a local real estate agent to help you assess your property's value before listing on the market.

About the Author

Author
Erin Fernschild
I believe that when it comes to Real Estate sales and service, you can have it all and that is my professional goal. Erin Fernschild has lived in Stratford, CT since moving from New York City in 2005. First living in the direct waterfront community of Breakwater Key and then moving to Lordship in 2012. Her interests in Real Estate expanded while she was searching for a home that would meet her lifestyle and growing family needs. Commuting to Wall Street in NYC on the train gave her ample time to find the perfect location for all of her requirements, even though she was told by many “you can’t have it all”. Erin attended William Patterson University earning a Bachelor of Science degree in Business Administration and International Marketing. Throughout her career, she has worked for several Investment Banking Firms in NYC including First Boston, Bear Stearns, and Deutsche Bank. In 2016, Erin obtained her real estate license and joined RealtyQuest. Erin’s passion for service and understanding of what it takes to complete any transaction with the least amount of difficulties stems from her role at Deutsche Bank where she co-­founded its Relationship Management team which is accountable for the Bank’s overall commercial relationships. Erin worked face-to-face on a daily basis with large hedge funds, asset managers, and high net worth individuals, listening to their needs, communicating effectively and often acting as a mediator to resolve issues. Her friendly style, tenacity, and technological ability provide her clients with a competitive edge in challenging markets. She is a natural people person who will work tirelessly on her client’s behalf. She truly enjoys assisting others to Buy, Sell and Invest in Real Estate and understands the amount of time, dedication, and thoughtfulness that goes into finding the right property, at the right price, that meets all of her client’s needs.