It’s a general notion that the more luxurious a house, the higher price you’ll be able to fetch for it. However, in reality, this high-end customization may actually reduce the value of the house drastically. Ensure that the elements in your house are neutral in nature for a higher evaluation.
Did you think that the value of your property, or to be more specific, your house, only depends upon the area, number of bed and baths, and its location? While all these factors undoubtedly play a crucial role, they are not the only factors! When it comes to buying and selling, be it of any nature, most buyers think economically. While your house may seem ideal for fetching the perfect price from buyers, the buyers, on the other hand, are thinking on the lines of the additional costs they have to incur in terms of maintenance and renovation. Not only this, the evaluation and pricing also goes beyond the condition of the house, it is related to the ‘neighboring conditions’, as well.
Remember that when your real estate agent will get a prospective buyer to examine your house, he will not look, but scan the property. Anything from cheap fixtures to showcasing your satellite dish to remodeling your second garage to a gym, may cost you a lot of money. The following section discusses 10 among the many things that can reduce your house’s market value.