Call Us Now At

215-281-3473

Preventing Your Home From Losing Value in a Fragile Market in Philly

When you first buy your home, you are filled with excitement as this is going to be the largest investment you will make in life. Having a home that is just what you want is something many strive for and hope to achieve at some point in life. However, once the rose-tinted glasses are taken off, a home becomes a very different beast that you start to see as a number of payments and bills that need to be taken care of to retain its value.

As the housing market continues to change and fluctuate every day, it is your job as a homeowner to ensure you are doing everything in your power to keep your house looking and running it’s best for future value retention. We want to help you get the most out of your home by looking at what a valuable home is and what you can do to ensure your home is on top of every Philadelphia home buyer’s wish list.

Determining a Home’s Value

Figuring out what a home is really worth is something real estate agents and homeowners alike have been trying to figure out for years. Putting a dollar amount on a house is something that is very difficult because there are just so many factors that need to be considered to realistically try and find out just what a house is worth on the market.

When trying to determine what a house is worth, many people will first take a look at the location of a home to get an idea of how much that area adds to a house. From homes in Montgomery Country to areas like Radnor, the prices of these homes can look very different just based on location alone. Once the location value is added, you can start to look at the house itself to find measurable things like size, age, and room count. When you add together all the numerical factors of a house alongside the intangibles like location value and overall looks, that is how a general house value is determined.

What Can Damage a Home’s Value?

Just as a home can have value added with location and size, value can just as easily be taken away from a house that has been neglected and not taken care of. One of the things that damages a home’s value the most is simply neglecting to take care of it. Not getting the house painted to neglecting to get Philadelphia disaster restoration after an accident occurs can all lead to a house losing immense value.

You need to ensure that whatever your home looks like that it has been kept in good shape for its lifetime. Going to sell a home requires a house that is in its best shape on the inside and out, so let’s take a look at a few essential factors to keep in mind when trying to keep a house valuable in the eyes of the market.   

Ways to Ensure your Home Retains or Grows its value

Get Regular Inspections

While many people think you only need to get inspections if you think something is wrong, this is very far from reality. Just like you get your car serviced after a certain number of miles to look for potential issues, you should be doing the same with your home so that you can make sure there aren’t any underlying issues that could buildup and cause serious problems later on.

To save yourself from notorious issues like flooding and needing water damage restoration Philadelphia, making sure things like the seams around your house are in working order is essential. If you want to prevent a fire from happening that you would not otherwise be prepared for, make sure you are getting your heating and dryer vents inspected regularly to make sure there is not a fire just waiting to ignite and ruin your house.

Keep things Updated

A rustic home is certainly a nice style that people look to buy, but rustic is not the same as old and outdated. The second someone walks in the door of a house they are instantly creating a value that they place on the property that they feel they would be willing to spend based on a first impression. This is why having modern amenities like a nice kitchen and modern electronics give the impression that the entire house will look equally nice in other areas.

Another thing you want to also keep updated is the smaller things that you would rarely think need replacing, this includes everything from fire alarms to seals around the house that protect the interior from flooding in the event of heavy rain.

Make it look nice

Walking or driving past a house is what is going to get people hooked or uninterested in seconds. People will make up their mind on a house just by looking at the exterior and making their value judgement. The exterior of a house has a lot more area that needs to be made look nice, but that is all the more reason to invest in making it look great. A fresh coat of paint to simply cutting the grass can be all that it takes to make an old house look new again.

Record Everything

Last but not least, keep a record of everything. While at the time it may just feel like hoarding paper, having a record of when you got that roof tile fixed and had a new fridge installed are crucial to a new buyers’ confidence. As a bonus, having records of every service, maintenance, and purchase will give the impression of responsibility and care to potential buyers.

Final Thoughts

When protecting your most valuable asset, you want to spare no expense in making your home as valuable as possible. While you can certainly do your part to make it valuable, reaching out to experts will always help you retain a great value for your home.