Safeguarding Your Equity: 7 Factors that Can Lower Property Value
By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Numerous factors can cause property values to fluctuate, so it's critical for homeowners to be aware of those that could lower their home's value. While some of these factors—like interest rates, the state of the economy, and market conditions—are beyond your control, others are largely under your control. A home's property value can be adversely affected by certain projects, or lack thereof, ranging from ugly renovations to careless home maintenance. Knowing what depresses property value will help you safeguard your house and maximize your return on investment when the time comes to sell. 1) Not Using Professionals for Home ProjectsIn addition to making their space more comfortable and enjoyable, many homeowners undertake home improvement projects in an effort to increase the value ...
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