Often the homebuyers get so moved by the interiors of a home that they forget about all the outside factors that affect the value of your home. Buying a house is the biggest investment that you do in your lifetime. To save that investment and to add value to it in the coming years you have to consider everything that can cause the property value to decrease. We have tried to compile a rundown of all those factors that can decrease the value of your home, and you must take them into account as to preserve you property’s value. So, without further ado let’s dive into our main topic.
Illegal Alterations to the Plan
Never make an illegal alteration to your home, I repeat never make an illegal alteration to your home. As we know, houses are built and constructed according to an approved map and floor plan by competent authority. They are responsible for any illegal constructions that happen in any area. The office retains the right to jeopardize any construction project currently being carried out. Actually, they keep record of everything including soil tests, and strength etc. and they know how well a certain design can perform in a locality, without posing any danger to the occupants or the neighborhood. That’s the reason this office discourages any overburdening done on someone’s own behalf. If you illegally alter your house that is not in accordance with the approved map or floor plan, may be you get away with it but the new buyer, when compares it with the plan, will definitely refuse to buy your house. That’s why it is always recommended to construct according to the plan. There are certain other things that can make your house look beautiful, and are not harming to anyone at the same time. You can make these changes like color scheme, interiors, or fitting rather than constructing illegally.
Proximity With the Railway Lines
Another thing that badly affects the value of your house is that it has a close proximity with the railway lines. Although the railway culture has much reduced now, and a shift from conventional rails to electric ones has much reduced its noise pollution, still there are some areas where trains do pass by. No one likes to stay close to the railway lines due to the noise and air pollution that is emitted by the trains. That’s why stay away from railway lines and try not to buy houses near to railway lines.
Close Proximity With the Airport
Airports, specifically the busy ones face a great hassle of aircrafts flying off and landing. In addition to only the pollution hazards, like railways, airport vicinity also poses great safety threats to the people. We have seen such incidents reported in the past where the aircraft crashed into neighboring societies killing many humans and destroying property worth billions. No one wants to stay in an area where they can’t get peace of mind anytime in the day. That’s why we recommend staying away from airports too.
A Noisy Neighborhood
A noisy neighborhood, for whatever reason, is never appreciated by anyone. Be it fighting neighbors, youngsters playing loud music, crying babies, or whooshing cars on highway, nothing is appreciated while considering a place to reside into. If you buy a house in such an area, by only getting fascinated by its outlook, you are surely not going to get any good price at the time of reselling it. Rather, the house will decrease its value and you will have to lose quite a lot of money while selling the house.
If a neighborhood you are residing at is famous for its crime rate, or criminal activity that are performed there, my friend you should definitely avoid making any purchase nearby. This will not only put you on a greater threat of falling prey to any criminal activity, but also it will reduce the prospects of selling your house in good price after you have lived in it. Such areas can easily be judged by visiting the nearest police station and getting information about the criminal record that’s been made there.
We have seen that the properties do reduce their value and so can your house. In order to save yourself from falling prey to it you have to conduct an in-depth research before making any purchase, and also you can hire an estate agent who can help you in knowing whether your property will reduce its value and how much. You can also ask our experts before making any purchase in the real estate market, just leave your query in the comment section, and one of our representatives will soon contact you and will be highly happy to assist you in any regard. However, keep this rundown in mind before making any purchase to avoid taking any decision that is going to decrease the value of your home.