Josh Dotoli, founder of Dotoli Group, has seen homeowners inadvertently decrease their property’s value in less than a year before listing it for sale. Neglecting maintenance, over-personalizing the home, ignoring curb appeal, DIY-ing beyond one’s abilities, failing to make energy-efficient improvements, and adding unpermitted structures are all common mistakes that can lower a home’s value. Additionally, setting an unrealistic asking price can deter potential buyers and lead to a prolonged listing period.
By addressing necessary repairs and maintenance issues promptly, homeowners can prevent small problems from escalating into larger, more costly issues. Avoiding highly personalized renovations and design choices that may have limited appeal to potential buyers is also essential. Focusing on improving curb appeal by maintaining the exterior of the home can help create a positive first impression for buyers.
Homeowners should be cautious when undertaking DIY projects beyond their abilities, as poorly executed renovations can decrease a home’s value. It is also important to make energy-efficient improvements to attract environmentally conscious buyers. Additionally, constructing additions or structures without the necessary permits can lead to legal and financial issues, potentially reducing a home’s value.
Setting an unrealistically high asking price can deter potential buyers and result in a prolonged listing period, ultimately decreasing the perceived value of the property. To maintain or increase a home’s value, homeowners should prioritize regular maintenance, consider potential buyers’ preferences, and make informed decisions about renovations and improvements. Consulting with a real estate agent or appraiser can provide valuable guidance on protecting and enhancing a home’s value over time.
