Your home is a significant wealth-growing asset. You want the value of your home to appreciate over time so you can reap the benefits of homeownership. Yet, many things can lower the value of your home and decrease your ability to grow your wealth.
Problems that can lower the value of your home can be costly and complicated to fix. You can increase the value of your home and get it in great shape if you take the time to discover these problems. Here are a few issues to look for that can hurt the value of your home.
Mold Damage
Mold is bad for your health, makes your home look unsightly, and eats away at the structure of your home. It also does not smell good. Mold damage can take a long time to occur, but you do not want to wait for this to happen. Mold grows where there is moisture. You can find mold anywhere in your home where there is moisture. If you detect mold damage in your home, contact a restoration company for an in-home consultation.
Old Kitchen and Bathrooms
People can date your home based on the look of your kitchen and bathrooms. Most of the time, it is not good when people look at your kitchen and bathrooms and feel like they are going back in time. Even if you have an older home, most people like to see updated features.
Thankfully, a few renovations to your kitchen and bathrooms can increase the value of your home. Replacing old appliances, cabinets, countertops, and fixtures can add thousands of dollars to your home’s value.
Lack of Maintenance
Your home may be standing, but it may not be in good condition. The value of your home can decrease if it is not in good condition. A decaying foundation, a cracked driveway, an old HVAC system, and leaky plumbing are issues that need fixing if you want to maintain the value of your home.
Bad Renovations
Renovations and upgrades do not always increase the value of your home. Poor workmanship, materials, and finishes can damage your home’s value. Issues such as awkward home additions, crooked tiling, and warped flooring will cost you extra money to fix. Get recommendations for a few contractors and choose the best one for the renovations, even if you need to pay a little more for quality workmanship.
Many things can decrease the value of your house, like bad landscaping, plumbing and electricity not up to code, and old roofing. You do not need to do a complete remodel in most cases. Just add a fresh coat of neutral interior and exterior paint, clean up the yard, and replace old appliances to add value to your home.