12 Dumb Ways You Are Ruining Your Home Value

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A report by St. Louis Fed data shows that the median U.S. home price has surged more than a third since early 2019, from $313,000 to $418,000. Location, size, and condition can all affect how much a home is worth. For instance, properties in urban or highly sought-after areas fetch higher values due to demand.

Regular maintenance and key improvements, including investments in kitchens or bathrooms, can generate a high ROI, potentially boosting your home’s value by 20% or more over time. Unfortunately, careless practices and oversights can inadvertently reduce your home’s value. Avoid these 12 pitfalls.

Neglecting Home Maintenance

12 Dumb Ways You Are Ruining Your Home Value — Image Credit:Atomicdragon136/Wikimedia Commons

The National Association of Realtors found that 87% of homes with significant foundation/structural issues report poor maintenance as the root cause. Even something as mundane as failing to do routine maintenance can result in disaster, ranging from lost energy efficiency and rising utility bills to potentially catastrophic problems like plumbing leaks, water damage, or even electrical fires.

For instance, if a pipe leak goes untreated, mold can certainly grow, which the EPA reports as having possible negative impacts on indoor air quality and our health. Plus, water damage can depreciate your house value by as much as 10%. Establish a maintenance schedule to cover things like gutter cleaning, leak inspection, HVAC filter replacement, and home safety systems checks.

Using Bold or Trendy Colors

Please don’t paint your living room neon green. Zillow data supports this theory, with homes that have nontraditional or just plain bright yellow paint selling for almost $3,400 less than their neutral counterparts. “In general, neutral shades of white, beige, taupe, and gray result in a faster sale,” says realtor Skyler Frazier.

According to a survey by Opendoor, the most popular colors for an exterior were gray (30%) and beige (26%). You can add some personality without permanently marking your house. Try flexible things like colorful throw cushions, art pieces, or fun rugs to give your space some zeal.

Ignoring Energy Efficiency

According to a consumer survey by Zoopla, 7 out of 10 people who are buying or looking to buy a newly built home rate energy efficiency as a very high priority in their purchase. Freddie Mac’s analysis concluded that homes with high energy-efficiency ratings sold for an average of 2.7 % more than those without.

Just by better insulating or installing energy-saving devices, you could be ahead of the game when it comes time to sell. Easy changes include switching to LED lighting or using programmable thermostats. You can then go big with Energy Star-rated appliances (proven to save 20-30% energy over regular homes) and extra insulation.

Letting Clutter Accumulate

Clutter can be a silent saboteur. It can give the impression that the house is disorganized and poorly maintained, which might put potential buyers off. According to Ikea’s research, cluttered homes cause stress and reduce happiness overall. This is a priority for anyone aiming to maintain a harmonious and valuable living space.

Learn to uphold the “less is more” mantra and be minimalistic if possible. Decluttering will keep things in check. Make it a regular (say monthly) thing to avoid a relapse. You can also form and function with clever storage solutions like shelving, organizers, and dual-purpose cabinets.

DIY Gone Wrong

They had you at “renovating a drab bathroom into a sleek, modern oasis” as you scroll through your favorite home-focused blog at 2 a.m. The projects always seem manageable (easy even). Yet, as many as one in three DIYers frequently end up with regrets after attempting some upgrades.

If you are not a professional, always ask for help or stick to smaller projects (such as painting a room or building shelves). Professionals should be called in for more intricate creations such as plumbing, electrical, or serious structural projects. According to RenoFi, professional renovations garner up to 20% return on investment, which ultimately saves you from expensive redos.

Not Investing in Curb Appeal

You never get a second chance to make a first impression. 94% of real estate professionals also say you should improve the curb appeal before listing. Why? They can also increase the selling price of homes by up to 7%.

Start with small, impactful actions: mow the lawn, kill the weeds in the garden beds, trim the hedges, add seasonal colour with flowers, and paint your front door. According to the folks at HGTV, a beautiful landscape with colorful plants (or garden) can get you more than 100% of that investment back.

Drastically Altering the Property Without Permits

Permits ensure that local codes are followed and your safety (and everyone else’s) is maintained. According to the National Association of Realtors (NAR), homebuyers typically shy away from buying homes that have unpermitted work. Structural, plumbing, electrical, or mechanical work are the rules of thumb for projects that require a building permit.

Remember, ALWAYS call your local building authorities before you start swinging! They know which projects require permits. The best part is, if you are unsure, a licensed professional can be your ace in the hole.

Not Updating Fixtures

A home with brass vintage knobs, tube lighting, and outdated faucets gives “yesterday vibes.” Buyers today want fresh homes that appear new and satisfy the design standards of the moment. A 2020 article in Home Design Magazine states that homes with updated fixtures sell faster (sometimes even closer to the listing price) than those with dated fixtures.

Replace those old, energy-guzzling lights with some LEDs. For updated touches, consider replacing plain faucets and knobs with something in brushed nickel (or maybe even matte black). New pendant lights or chic vanity lighting can do wonders.

Not Conducting Professional Inspections

Regular maintenance will take care of some problems, but a professional inspection can do a more thorough job. A survey by Porch discovered that 86% of buyers ordered a home inspection in their latest real estate transaction, and 14% of these inspections found at least one major issue in a property destined for sale.

These issues range from faulty wiring to plumbing mishaps. Any of these issues could end up causing a hefty repair bill later on. Buyers might demand a substantial price cut without a proper inspection report or even reject your property. The American Society of Home Inspectors advises that your property be inspected once a year.

Ignoring Local Market Trends

A Zillow analysis finds that homes with electric vehicle charging stations and drought-resistant landscaping can sell more than nine days faster than similar homes without the amenities.

Connect with local agents, visit open houses, and read the housing market reports to stay up-to-date on what’s trendy. The U.S. CU.S.S. Bureau also often reports changes in housing trends and what is currently popular with buyers. Plus, with apps like Redfin and Zillow, current trends and future forecasting are available directly at your smartphone’s “fingertips.”

Living with Pet Damage

Considering that 67% of Americans have a pet, the ubiquity of pet damage should be no surprise. Pet-friendly households often reveal signs such as scratched hardwood floors and stained carpets. Invest in quality pet-friendly fabrics that can tolerate the wear and tear of a household with pets.

Opt for scratch-proof flooring or stain-resistant fabrics. Professional carpet and furniture cleaning can easily remove smells and stains. Adding things like custom pet gates or having a designated pet area will keep destruction down, per HomeAdvisor.

Overloading with Technology

Studies from the Consumer Electronics Association show that only 10% of home buyers think smart home tech is a necessity. Another 33% would look for a home without smart tech and then retrofit it later. Coldwell Banker says 48% of homebuyers are most attracted to smart home technology centered around safety.

Incorporate technology that simplifies daily lives to innovations that do not scare off would-be buyers. Case in point: smart thermostats and energy-efficient lighting. Ensure everything is up-to-date, properly maintained, and doesn’t fall into disrepair by the time buyers look at it.

Disclaimer – This list is solely the author’s opinion based on research and publicly available information.