3 Things That Can Decrease the Value of Homes When Selling in Ghana
- People want the value of their properties to be appreciating over time so that they can make money if they want to sell them
- That may not always be the case because there are some factors beyond the control of the property owner that may make them lose money on their house
- For property investors looking to buy and resell houses, looking out for conditions that can decrease the value of homes is non-negotiable
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Everyone wants to make a profit in their business. In the same way, property owners and investors want their properties to increase in value. This may not always be the case however and the sad thing is, they may not have control over some of them.
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In this article, YEN.com.gh talks about some of these things to look out for which can seriously undervalue one's home.
Houses in Bad Neighbourhoods
Houses in bad neighbourhoods do not sell and if they do, they are sold for cheap compared to similar houses in good areas. Neighbourhoods prone to disasters like flooding are no-go areas and communities that have high crime rates are usually avoided by people.
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At best, people may rent houses in such areas but very few will be willing to buy homes there to live on a permanent basis.
Troublesome and Noisy Neighbours
People do not want to come home after a long day's work to come and deal with stress from neighbours. People usually avoid houses with quarrelling, troublesome or noisy neighbours. If they ever buy houses close to such neighbours, they will live to regret the decision.
Many tenants do not renew their rents in apartments with bad neighbours.
Bad Maintenance works
Not maintaining a property well greatly devalues a home. Issues such as leaky roofs, bad plumbing and electrical works normally put people off from considering a house for purchase. It is important that all house issues are dealt with promptly.
Also, there must be regular cleaning and painting of the house to keep it evergreen.
Frequently Asked Questions That First-Time Home Buyers Must Ask Before Buying a Property
In an earlier article, YEN.com.gh wrote about questions to ask when buying a house. Buying a property involves a lot of money so it is important to ask the right questions before paying a penny. This will save buyers from a lot of regrets after acquiring a bad home
Source: YEN.com.gh
