Published On: Fri, Oct 17th, 2014

House Market: Killer Problems That Can Devalue Your Home

The recent economic growth in the US has meant that the housing market has a newfound strength. After a period of low housing pricing, home owners can now ask much higher prices for their homes. That means that many people are now choosing to capitalize on the current market. Now is the best time to sell your home because you could make a huge profit if you do so. Last year, high-interest rates meant that the housing market crashed. Now it appears that the market is regaining strength in the US. So, what can homeowners do to ensure that they get top-end prices for their property? Here are some of the main issues that can bring property prices down.

house for saleNeighborhood crime statistics

It won’t surprise you to learn that crime statistics play a huge role in housing prices. Many people across the US have found that the potential sale price of their home decreases as crime rises in their city. You can’t control the crime rates in your city. Many homeowners find the news of rising crime rates in their area infuriating. The best thing you can do when the crime rate rises is get out as soon as possible. That means that homeowners should try and sell their property as soon as the area begins to suffer.

Corrosion and damage

Corrosion or water damage can have a serious impact on your home. There is a huge problem with corrosion in US homes. Erratic weather means that people often find that water damages their home. Recently, leaking fire systems damaged a series of homes in the US. These damages may seem minor, but once the water rots the foundations of the home, there is no way to recover the property. Homeowners should consider investing in a corrosion management system before the worst should happen.

Owning pets

55% of American families now own pets. The problem with households that have pets is that the animals often damage the interior of the house. That means that the value of the house decreases in a significant way when you own a pet. Few Americans realize what having a pet means for their property. That means that many people are losing potential profits when they get a pet for their home. Some realtors won’t deal with households where there are pets. The problem is much more severe than people first realize.

Decor and interior design

When people design their home, they often forget that they might need to sell the property at some point. When people make permanent changes to the interior of their property, they could be losing some of the potential value. That means that when people embark on huge home improvement projects, they may not be improving their home at all. That means that when people change authentic pieces such as fireplaces and original walls, they lose value. People should talk to a realtor before they make any changes to their home that could impact the valuation of the property.

Breakages in the home

In the same respect, people who have broken items in their home can expect a lower valuation for their property. A recent poll found that one thing that puts buyers off properties is breakages in the home. While the US property market is now stable, you could still lose money if you don’t solve these issues. It is vital that you repair any damage within your home. Doing so will mean that you can ask a higher sale price for your home. That means that you can make a larger profit on the sale of your home.