5 Avoidable Factors That Devalue Your Home | Boca Raton Real Estate
Compared to other investment opportunities like the stock market or cryptocurrency, real estate is the most reliable, dependable, and longstanding. Despite the still substantial risks and high upfront cost, the physical backing of a manmade structure provides you with all the collateral you'd need to back your initial and ongoing investment. It's important to know what factors increase or devalue the price of your home. Some seemingly innocuous choices can have longstanding ramifications. These are 5 avoidable things that can devalue your Boca Raton home if you're not careful.
We're sure that much like your dating profile, the home you've listed on the market has more than meets the eye. However, that first glance, that initial impression, is a massive determinant of action or inaction. As Realtors, we put a major emphasis on our headshots, clothing, and general disposition. Much like ourselves, our homes are a reflection of who we are. If we choose to neglect the exterior and detract from the curb appeal, we are only harming ourselves, and forcing otherwise interested parties into a hard pass.
The kitchen is one of the most significant rooms in the house. Equal parts form and function, the kitchen is a practical and aesthetic must. Failing to modernize your kitchen, whether it be to meet more current aesthetic trends or to simply upgrade your equipment, can cause buyers to pause. Remember, you may love that Pepto-pink, hexagonal backsplash, but it might best be left in the 70s. Cheap, outdated appliances are also a massive subtractor of value, as in the eyes of the buyer this could lead to thousands in replacements.
Overly Specific Renovations
That towering, regal fireplace that you spent thousands to install is gorgeous, befitting of your foyer, and a prideful piece of your Boca Raton home. The problem is twofold: you can't move the fireplace and chimney to your next home, and it's consistently hot and humid in Boca Raton. The utility of this major home addition is limited, as is the use of the space and its aesthetic application. This is just one example of a renovation that might be glorious as a homeowner, but cost you as a seller. Remember, home buyers, are looking for a home they see themselves in so that high-priced Boston Red Sox logo mosaic at the bottom of your pool might not work for everyone.
The most obvious habit to avoid (and we're hoping most people left this in the decades' past) is smoking. Smoking indoors, or even nearby on your lanai can waft carcinogenic smoke that sticks to the walls, warps paint, and causes a lingering odor that is extremely expensive to purge. Beyond that, house pets, namely major shedders like large dogs and even some longhair cats can have a longstanding impact on the home. If you're selling a Boca home that is heavy on textiles - curtains, rugs, and carpets, be wary of what you allow to persist in your home as it can and will catch up to you.
In 1982, American Political Scientist James Q. Wilson and his partner, Criminologist George Kelling coined the "broken window theory." This theory serves as a metaphor for degradation within a neighborhood. The theory states that the more broken windows in a given area, especially those long-neglected, will lead to more serious consequences such as major crime and poverty. This theory can be extrapolated to include "Zombie Houses." For any of us who recall the many abandoned, foreclosed homes in 2008, one might understand how these "zombie houses" could force some prospects to pass. The more abandoned buildings in a neighborhood, the more aesthetic neglect, and often the more crime is fostered as a result. While "zombie houses" aren't as much an avoidable conflict as the four stated above, it cannot be said loudly enough that the neighborhood around you might be the single biggest barometer pricing your home.
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