Most people assume that the value of their property is directly linked to current market values. To an extent, this is true, but there are a few things that adversely affect how much a property is worth on the open market. If you are thinking of buying a property, read the following list and see if you can spot any bargains.
Not everyone lives in a home so tidy you could eat your lunch off the kitchen floor, but some people are surprisingly happy to live in the middle of a mountain of rubbish. Hoarder homes require a lot of TLC. By the time the hoarder moves out, there is likely to be several years of waste in every room. Clearing a home previously occupied by a hoarder is no easy task. There are also likely to be serious maintenance issues, which will also affect the property’s valuation.
Well-kept pets are a joy, but if you view a property owned by a crazy cat lady or a man who bred pit bulls in the garden, nobody would blame you for walking away. Buyers are put off by smelly pets and will try to knock down the asking price. The reduction is needed to pay for new carpets and flooring, not to mention potentially landscaping the garden, so who can blame them?
Would you want to live in a property where a brutal murder took place? Not everyone is squeamish about a home’s macabre history. In fact, some people will even pay a premium to live in a murder house! But, no matter how capable TX crime scene cleaners are at cleaning up blood spatters and crime scene powder, would you really want to be discovering bloody handprints when you lift a carpet or shackles in the basement?
If you do have the stomach for a murder house and you are not superstitious in the slightest, you may be able to score a bargain by bidding on a home where a serial killer lived. However, many of the most notorious properties are demolished to deter thrill seekers, so don’t get your hopes up.
Most people don’t want to live at number 13 Ocean Drive or 666 Palm Tree Boulevard. Who can blame them? But, did you know that odd-numbered homes are worth slightly more than even-numbered homes? Strange but true!
We don’t all have the same taste in clothes or décor. That is what makes us human. After all, it would be pretty boring if everyone painted their home in the exact same shade of magnolia and fitted identical oak flooring. However, questionable taste can push down the value of a home by several thousand dollars. For a prospective buyer, this is a good thing, as you can score a bargain when the vast majority of people turn their nose up at a home with retro 70s décor and pine cladding.
Other factors that can affect a property’s value include noisy neighbors, embarrassing street or house names, and zero amenities.