Do You Want To Sell Your Home? Know The Factors That Devalue Your House

Your House

There are certain factors that can devalue your house, but before knowing them, it is important to know that these elements are completely related to real estate equity, since they are used to calculate the commercial price of said home. 

It is necessary that, before wanting to sell your home, you know what the main enemies of real estate equity are when defining the value of your home.   

What Factors Devalue Your Home?

  • Not giving regular maintenance
  • Lack of communication routes and public transport
  • Installation of mobile shops and gas stations
  • Outbreaks of violence and insecurity in the area
  • Construction of new real estate developments

Not Giving Regular Maintenance

All homes suffer from wear and tear due to the daily use they are given, especially in certain areas such as the kitchen or bathrooms, so it is essential that maintenance is carried out in these areas regularly. 

However, there are cases in which this does not occur and it is when the owners face more serious problems due to the deterioration of the house, for example, leaks in the roof, leaks in the walls, damage to the structure of the property, among others. 

These situations surprisingly affect the value of a house and therefore devalue its final price. 

We recommend that you make all the necessary improvements and repairs to put your home up for sale. 

In this way, future buyers will not be able to claim for hidden defects in the property and you will not be economically affected during the sale. 

That is, you have to cover the extra damages for not having carried out preventive maintenance. 

Lack Of Communication Routes And Public Transport

Another factor that devalues your house is the lack of access to main avenues and streets, as well as the fact that there are almost no means of public transportation. 

This is a problem since many buyers look for their homes to be strategically located, whether they are located near work or close to their children’s schools.

Due to this, if the property you want to sell is far from educational centers, hospitals, markets, shopping centers or does not have much availability of services, it is most likely that the capital gain will be lower and this is due to the fact that it is located in a colony or fractionation of low competitiveness.  

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Installation Of Mobile Shops And Gas Stations

Although you consider that living near street shops and gas stations can be a great advantage for your future buyers, the reality is that it is not. 

The main reason is that, at times, the street stalls generate bad odors, garbage and saturation of the main streets, so reaching the home can be difficult, and may even be in danger of being damaged or stolen.

On the other hand, living near a gas station represents a potential loss risk, considering the worst case scenario. 

It is also important to consider if there are changes in the attractions of the area where the property is located, since these elements affect the value of your home. 

For example, if shopping malls or a nearby supermarket close, if there is not so much educational offer, etc. 

Outbreaks of Violence and Insecurity in the Area

Home buyers are always looking to invest in a good neighborhood. In other words, the outbreaks of violence and insecurity are almost nil or if it is a private subdivision that there is 24/7 security.  

In this way, if the insecurity persists for a quarter or more, the equity of the property could be reduced and therefore affect the value of a house. 

On the other hand, if the situation improves, the property would take from 8 months to a year to recover its original value.   

Construction Of New Real Estate Developments

Another element that could affect the value of a house is if new housing developments are being built in the neighborhood or subdivision where your home is located. 

The construction of a new building will not affect the equity of your home, however, it does reduce the possibility that your property stands out among the others. 

Therefore, we advise you to integrate your property with new amenities, for example, building a multipurpose area on the roof or backyard, or throwing down walls to expand the rooms. 

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