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19 Types of Home Inspections that Buyers Should Consider

Dusty Rhodes • Jul 31, 2023

Buying a home is a significant investment, and ensuring the house is in the best condition possible is a top concern for any buyer, regardless of whether it’s your first home or investment property. It’s easy to get caught up in the excitement of buying a home, but you’ll want to make sure you include a home inspection in your list of priorities to avoid any potential issues or unforeseen costs as you get further into the homebuying process. 


A general home inspection is almost always recommended for anyone buying a home. However, savvy buyers will do their due diligence by scheduling specialty home inspections, especially if the house is older or has specific features. From the roof all the way down to the foundation, there are several specialized types of home inspections you may want to consider before sealing the deal on your dream home.


Do I need a specialized home inspection?


“When discussing the importance of any type of home inspection with a client, I find the analogy of people seeing a doctor helpful,” says Brian Wendorf of Integrated Home Inspections. “Getting a home inspection is like seeing a trusted general practitioner who will evaluate overall health and recommend seeing a specialist when there is a question or concern about something that may be a latent issue. The things we can’t see can expose the greatest concerns to our underlying health. Like our bodies, a house can be seen as a holistic set of systems and structures. It’s important to get a home inspection to help understand the condition, need, and overall viability of a home’s usefulness to provide a happy and healthy place to call home or a sound investment.”


Depending on the home’s age, location, or condition, you might consider special types of home inspections to investigate potential issues common in homes in your area. General home inspections are great at giving you an idea of the overall state of the house at that point in time, but they do not typically test for things like asbestos or mold. “From crawl spaces to foundations, plumbing to HVAC systems, these inspections provide peace of mind, uncover hidden issues, and ensure you’re making a wise investment in a safe and comfortable living space,” says Luis Roses, owner of MIA Inspections. “Don’t settle for uncertainty; let comprehensive inspections protect your investment and bring you lasting peace of mind.”


When it comes to buying a home, you want to make sure you know all there is to know about the property before signing on the dotted line. In fact, here are 16 different types of home inspections you should consider:


1. Roof inspection


Most general home inspections will catch obvious roof problems, such as dark streaks or stains on your ceiling or loose shingles, with a visual inspection from the ground. However, a roof inspector will conduct a more thorough inspection that may reveal issues that aren’t visible to the untrained eye. This can include checking for leaks, unsecured shingles that could allow water to enter the home, and the condition of the gutters. 


“Your roof is your home’s shield against the elements,” says Preston Smith of Mahogany Premium Home Inspections. “A roof inspection during a home inspection can help you spot problems early and save money on repairs. Peace of mind is priceless.”


2. Chimney inspection


A chimney inspection can alert you of any potential problems in the firebox or flue, buildup, or blockages that you can bring to the homeowners to fix before closing on the home. Like all inspections, the inspector will perform a visual assessment for exterior cracks or damage in the mortar and clear the chimney of any buildup of creosote (a byproduct of burning wood) that can combust if left untreated. This type of home inspection aims to prevent chimney fires and smoke or odors from seeping inside the home when the fireplace is lit during the colder months. 


3. Attic inspection


The roof may look sound and secure from the outside, but there may be signs of structural damage in the attic that can be easily missed with a general inspection. If you’re planning to look for your dream home in Phoenix, AZ to enjoy sunny weather year-round, you can expect to have your air conditioning running day and night, which can easily add to your energy bill. An attic inspection will let you know if there’s sufficient or damaged insulation that needs to be remedied. Moreover, a trained specialist will have the equipment necessary to identify signs of mold or moisture that can compromise the foundation’s integrity.


4. Electrical inspection


Regardless if you’re looking at a new construction or an older home, making sure the wiring is up-to-date and complies with city codes will help you avoid any troubles later on. Safety, comfort, and improved energy-efficiency are a few of the benefits you will gain from having your electrical systems inspected by a professional. Wires can become frayed and damaged from regular wear-and-tear and pose a dangerous fire hazard to your home and family. 


In addition to roof inspections, Peter Kirchgessner of Good Dog Inspections recommends that homeowners get their electrical systems looked at. “There is peace of mind in knowing the condition of the home but even more importantly is finding out what critical components are in need of repair for safety and financial reasons, he says. “A faulty or aging roof can cause water damage that can lead to mold. A dated and dangerous electrical panel or bad wiring can lead to house fires. Both are expensive repairs initially but far less expensive or dangerous if dealt with timely and with confidence before purchase.”


5. HVAC inspection


A strange sound or smell could indicate an underlying issue that could affect your HVAC system, leading to increased heating and cooling costs, or worse, needing to replace it with a whole new system. An HVAC inspection provides a clearer picture of the home’s heating and cooling system, and can even give you recommendations for repairs or energy-efficient upgrades.


6. Mold inspection


Just because you can’t see mold doesn’t mean there isn’t any lurking away in your dream home. In fact, a mold problem could indicate that the home is harboring larger issues such as water damage, leaks, or even flooding. A specialist trained in mold remediation will typically conduct a visual assessment and sample the air and surfaces in the home to determine the type of mold present. This type of home inspection may even use thermal imaging to locate damp or cold spots behind walls where mold tends to thrive. 


7. Pest inspection


Termites and other wood-loving pests can cause irreparable damage to the property that is costly to replace. A general home inspection may show areas of damage that might attract these unwanted guests, but only a trained specialist can definitively identify if there is continuing presence of pests, such as termites, carpenter ants, rodents, spiders, in your home’s exterior and interior, how large the infestation is, and how long the pest has been there. Not only will it save you a headache from dealing with a potential infestation, getting a pest inspection conducted early on will let you know you’re investing in a pest-free home.


8. Lead-based paint inspection


Older homes built before 1978 – and even some after – could contain lead-based paint and are highly recommended to be tested by a trained professional. Even low levels of lead-based paint may cause health issues and can be hazardous if you’re buying a home with young children. A specialist will check for peeling or chipped paint around the house and collect samples to be tested in a lab for the presence of lead. 

9. Plumbing inspection


A plumbing emergency is never convenient. To prevent issues like a sewer backup or a failing water heater from becoming a homeowner’s nightmare, investing in a plumbing inspection before making the down payment can bring underlying issues to light. A professional will either conduct a visual inspection or use a diagnostic camera to verify that fixtures and appliances are installed properly and check for signs of water damage under or behind appliances. 


10. Septic inspection


Like plumbing emergencies, a malfunctioning septic system can spell costly repairs (and unpleasant odors) if not caught before you’re under contract. A trained professional will locate and assess the septic tank, sludge layer, and absorption area to ensure all components are in working order and that the tank is the right size for the home. You definitely wouldn’t want to buy a home with a failed septic system, so consider a septic inspection if you’re buying a home with a septic tank.


11. Radon inspection


If you’re looking for your future home in regions where basements are common, requesting a radon test as part of the home’s overall inspection can help bring you peace of mind. Nearly 1 out of every 5 homes in the United States has elevated radon levels, and the EPA recommends that all houses be tested for radon levels during the point of sale. In most cases, you can request the seller’s previous radon test results as part of the home inspection and use that as a point of comparison. 


“Radon testing is important because it is the second leading cause of lung cancer in the US,” says New South Property Inspections owner Wes Grant. “Home Inspections are important because a house is the largest personal investment anyone normally makes so it’s imperative that you perform as much due diligence as possible to determine the potential repairs needed to maintain the value and condition of your property investment.”


12. Asbestos inspection


If you’re buying a home that was built before 1975, there’s a chance asbestos may be present in one or more of its construction materials. An asbestos inspection should be conducted by a certified asbestos removal company. Keep in mind that while asbestos tests take time, the entire home is inspected to ensure no asbestos-containing materials remain in the home you want to purchase. If the inspector recommends a removal, make sure this is addressed before signing off on the contract.


13. Pool or spa inspection


A pool is a great outdoor amenity, but not inspecting the pool’s structure and equipment systems, such as its pumps, heaters, and filters, could cause many problems down the road. Beyond being leak-free and solid, the pool’s plumbing system needs to be inspected to ensure the water is draining properly, and that the safety covers and hardware are sufficient to secure the pool when not in use.


14. Soil stability inspection


The state of the soil around the property can play an important role in determining if the home’s foundation adequately supports the soil that surrounds it. After all, you don’t want part of the hill your future home is sitting on to slide away during a rainstorm. A soil analysis by a trained professional can help prepare you for the potential issues of hillside living and will test for the probability of erosion, gillies, or mudflows due to the soil shifting. 


15. Foundation inspection


Whether you’re a seasoned or first-time homebuyer, a foundation inspection can easily be overlooked when going through the types of home inspections you should consider. Large cracks in the exterior and interior walls, uneven floors, gaps between walls and the ceiling, or even doors that won’t close properly are potential warning signs that there may be bigger foundational issues that have gone unnoticed. A structural engineer can identify these problems, and you may be able to bring these up to the seller to fix during negotiations – saving you time and money by preventing the conditions from worsening. 


“A foundation inspection is crucial in telling the story of a house,” says Dave Tague of Tague Home & Property Inspections. “An issue with the foundation will affect the structure above it. There will likely be angled cracking above doors and windows, and even the brick veneer on the outside of certain homes. Doors may rub and not close correctly. Supporting structures in the attic may show signs of foundation movement. A complete home inspection is always a good investment, but it all starts with the foundation.”


16. Crawl space inspection


Homes with crawl spaces in areas where there’s high humidity, like Seattle, WA, should be strong contenders for a crawl space inspection. As moisture condensates on surfaces in the crawl space, mold, wood rot, and even termite infestations can occur due to the space becoming increasingly humid. A professional will identify signs of a rotting crawl space and save you from making a costly mistake.


“It’s imperative this space is inspected,” says Richard Gaines of San Diego’s Home Inspector. “Issues such as cracked foundation walls, plumbing leaks, old electrical wiring, mold…health and safety are my main concern and all these issues directly affect the health and safety of the home and its occupants.”


17. Phase inspection


Phase inspections are a crucial aspect of the construction process for new houses. These inspections are conducted at various stages of construction, typically encompassing three key phases: pre-drywall, pre-closing, and final inspections. Phase inspections for new houses are vital to guarantee the quality and safety of the construction, providing homeowners with peace of mind and assurance that their new home meets all necessary requirements.


“Phase inspections are like checkpoints in a construction video game,” says Didya Bianchi of Bianchi Home Inspections. “By getting inspections during each phase, such as foundation, framing, and final inspections, you’ll catch any glitches or construction snafus before they become full-blown disasters.” 


18. Sewer inspection


Sewer inspections play a crucial role in ensuring the functionality and integrity of the sewer system in new homes. These inspections involve a comprehensive assessment of the sewer lines and components to identify any potential issues or defects.

 

“Sewer line maintenance is often overlooked yet can be extremely expensive to repair or replace,” says Amanda Ables of Noble Property Inspections. “A sewer scope is a visual examination into the plumbing and sewer systems to identify any defects or damage. Common problems discovered during a sewer scope can include breakage, leaks, bellying, collapsing and clogs of the sewer lines.”


By conducting sewer inspections before the purchase or occupancy of a new home, potential buyers or homeowners can uncover any hidden sewer issues that may require immediate attention or future maintenance. Early detection of problems through sewer inspections helps prevent costly repairs and ensures a smooth and uninterrupted wastewater disposal system in the new home.


19. WDO inspection


WDO inspections, short for “wood-destroying organism” inspections, are essential evaluations conducted by licensed professionals to assess the presence of pests that can damage wood structures in homes or buildings. These inspections primarily focus on identifying termites, carpenter ants, wood-boring beetles, and other wood-destroying insects that can compromise the structural integrity of a property. During the inspection, the licensed inspector thoroughly examines the interior and exterior of the building, including crawl spaces, basements, attics, and all accessible wooden elements.


Tyler Quintard of Odyssey Home Inspection suggests that homeowners should have WDO inspections and general inspections done by different companies. “WDO inspection is a quantitative inspection, outlining all areas of concern regarding wood rot, activity, and deterioration typically paired with a bid for repairs,” he says. “These inspections should always be performed by two inspectors, and you should always do your due diligence when identifying the right professional for each that has your fiduciary interest in mind.”


Are these different types of home inspections worth the investment?


While they could add up in costs and time, specialized home inspections can give you peace of mind in the long run. “Just like a good lawyer can save you thousands down the road, a thorough home inspection can save you the heartache of unexpected repairs and replacements,” says Kyler Piedra of Kore Home Inspections. “A home inspection helps mitigate your risk and inform your purchase decision.”


“While waiving a home inspection may provide a competitive advantage in a competitive housing market, it can also expose you to significant risks,” adds Stephen Roberts of Boston Light Home Inspections. “Without a professional inspection, you might miss important information about the property, which could lead to unforeseen expenses or potential safety hazards down the line.” These types of home inspections help reveal problems in-depth that a general home inspection might only highlight as a possible issue. You can notify the current owners as soon as possible to get the repairs underway in case you want to continue with the home purchase. Addressing these issues early on in the home buying process is key to saving you money down the road.


Additionally, inspections can give you an upper hand when negotiating a sale. “Buying a home is probably the most significant investment you will make,” says Jeff Longaker of Inspect Pro LLC. “Protecting it is critical. A home inspection is an essential step in the home buying process. The inspection can uncover vital information about the house’s condition, so you are making an informed decision. Having a home inspection empowers the buyers to negotiate in certain market conditions.”





Source: Redfin

Dusty Rhodes Properties is the Best Realtor in Myrtle Beach! We do everything in our power to help you find the home of your dreams. With experience, expertise, and passion, we are the perfect partner for you in Myrtle Beach, South Carolina. We love what we do and it shows. With more than 22 years of experience in the field, we know our industry like the back of our hands. There’s no challenge too big or too small, and we dedicate our utmost energy to every project we take on. We search thousands of the active and new listings from Aynor, Carolina Forest, Conway, Garden City Beach, Longs, Loris, Murrells Inlet, Myrtle Beach, North Myrtle Beach, Pawleys Island, and Surfside Beach real estate listings to find the hottest deals just for you!

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Avoid Paying Unnecessary Fees by Lowering Your Closing Costs—Here’s How

By Dusty Rhodes • 06 May, 2024
The hardest part’s over because you’ve found the perfect house. Now you have to go through negotiations to buy the house and determine your closing costs. Closing costs are expenses in the home-buying process that typically equal 2% to 5% of your loan’s value, which can make them very pricy if you’re buying an expensive property. Borrowers might be able to reduce closing costs with the right negotiation tactics. Wondering how to lower closing costs? Here are several tips to try before you sign off on your purchase. What are closing costs? Closing costs are fees that occur when finalizing a real estate transaction on the sale or purchase of a house. Once the property is transferred into your name, these fees are due. Both homebuyers and sellers pay closing costs, but it varies who pays closing costs and how much they pay. A home loan amount, a property’s location, and a home buyer’s credit score are some of the factors determining closing costs. Some state laws also require professional services that increase a transaction’s closing costs. Many closing costs are negotiable among homebuyers, sellers, and mortgage lenders. If you’re buying a property, it’s crucial to research and shop around for home loans before choosing a lender. Can closing costs be negotiated? There is some negotiation possible, and the following includes ways to possibly lower your closing costs. Did you review your loan estimate form? Before you close on your home, your chosen lender will provide you with a contract covering all the details of the agreement. In it, you’ll find information such as your monthly payment amount and interest rate, as well as the percentage owed for closing costs. Remember that things like a low credit score can contribute to a higher interest rate, so try to have more than the minimum credit score. In reviewing these numbers, you might find that your closing costs are higher than what you’re willing to pay. Don’t hesitate to shop around at other banks and lenders, which might offer you a better deal, including lower closing costs. Did you research lender fees? Double-check the lender fees you have to pay to obtain your loan, as you can sometimes save money here, too. Your lender will charge an origination fee. You probably can’t get out of paying this, but your loan agreement could contain other negotiable fees. There’s no harm in asking your lender about these. This is an area in which it would help to have other loan possibilities for reference. If your chosen lender tacks on more fees, show them your options and negotiate a lower rate or move on to a new lender. Do you know what you are paying for? It’s vital to understand closing costs before you go into negotiations. Of course, you have your responsibilities as the buyer—you must pay the application fee, attorney fees, credit report fees, and more. But you should also know what the seller should cover on their end of the deal. For example, they should contribute to the closing costs, especially when the market is working in the buyer’s favor. To that end, the seller should also cover the real estate agent commissions. Can you add the closing costs to your mortgage? You can lower or avoid paying closing costs upfront by folding them into your mortgage. Some lenders will be open to this option, wherein they pay the closing costs for you upfront and then tack that price into your home loan. This will save you cash in the short term, but you will end up paying more for your closing costs over time since your loan repayments will come with added interest. Did you look for financial aid? First-time homebuyers might be able to get a bit of financial relief when they purchase a property. Many grants can help lower the costs of the home-buying process to encourage more people to get into the real estate market. For instance, if you choose a Fannie Mae loan to buy one of their foreclosed properties, you might be eligible for closing costs as low as 3%. There are also loan programs for those who have, for example, poor credit history, a low down payment, or veteran status. Local governments or nonprofit organizations may also provide grants for the home-buying process. These programs mostly favor first-time home buyers, and they help cover your down payment and/or closing costs. Did you research vendors? As soon as you get your loan, skip to the part where it describes the vendors who can help you through the closing process. Sometimes the people selected by your bank will charge more than ones you can find yourself. Do your due diligence to ensure you have the least expensive vendors possible. You can ask your lender for other potential vendors they might not have listed on the loan. This research could save you hundreds of dollars in closing costs. How to lower closing costs When figuring out how to lower closing costs, it’s most important to understand where you can save money. Even though each real estate deal is different, there are typical closing costs that homebuyers can expect. Application fee: Before applying for a mortgage, ask your lender if they charge an application fee. If so, make sure you understand what it covers. Application fees are sometimes negotiable, but you might need leverage in your negotiations. That’s why it’s essential to shop around and know what other lenders charge for an application fee. Appraisal: In most deals, you’ll need to pay an appraisal company to assess the property’s fair market value. Sometimes though, you won’t have to pay this fee, so be sure to discuss with your lender. Association dues: If you’re buying a property in a homeowners or condo association, you may have to pay your annual association dues at closing. The buyer and seller can split this cost, and you may owe only a prorated amount of the association’s annual dues if you buy a property partway through the year. Attorney fees: Some states require lawyers to review a real estate transaction’s closing documents. If so, both the buyer and seller have their own legal representation. Courier fee: Your lender may use a courier to deliver documents required to close a deal. Doing so can expedite finalizing the transaction, but you may pay for this courier fee as a result. Credit report fee: Your mortgage lender will run a tri-merge credit report. The reports are your credit scores and history from the three major credit bureaus. Depending on the lender, you may not get charged for this, but you’ll have to ask. Discount points: These “points” represent money you pay your lender at closing to receive a lower mortgage rate. One discount point equals 1% of your home loan amount in exchange for dropping your interest rate by 25 percent. For example, if you pay your lender $1,000 on a $100,000 mortgage loan, your 4% interest rate drops to 3.75%. It’s important to have a conversation with your lender about what your options are with these points, especially since points are not required. Using points makes sense on paper but paying more upfront may not work for everyone. For those who don’t plan to live in their home long-term or are likely to refinance, this isn’t the best option. Escrow deposit and fee: Many lenders require you to have an escrow account for your expected property taxes and homeowner’s insurance premium. Your lender makes your insurance and tax payments for you using the money you deposit into your escrow account. If you’re required to set up an escrow account, a title company, escrow company, or a lawyer will manage the process. They’ll charge a fee for doing so. Often, home buyers and sellers agree to split this cost. You can ask about these costs upfront to make sure they fit within your budget. (Pro tip: It’s always a good tip to confirm with your city or county that your taxes have actually been paid!) Flood hazard determination fee: The U.S. government requires a flood risk assessment for all real estate transactions. A third party handles the evaluation, and they’ll charge you a fee for their service. You’ll have to pay for flood insurance if they determine your property is in a flood zone. Be sure to keep this possible expense in mind when choosing a property. Homeowner’s insurance: Homeowner’s insurance is usually not required by law, yet most lenders require it. It is a good idea to have it in case of damage to the property, and you’ll usually pay your first year’s insurance premium at closing. Mortgage broker fee: You can hire a mortgage broker to help you find mortgage loans. If you do, they’ll charge you a commission based on the percentage of your loan amount. This is usually between 0.5% and 2.75% of the property’s purchase price. To save money, you could look for loans yourself. Origination fee: Most lenders charge a loan origination fee when processing your home loan application, which is usually 1% of your loan amount. Not all lenders charge an origination fee, however, so, again, it’s essential to research different mortgage lenders. Upfront: You pay the entire cost of your PMI at closing. Split: You pay part of your PMI costs upfront, and your lender folds the balance into your monthly mortgage payment. Monthly: You pay nothing on your PMI at closing, and your lender adds your entire PMI balance to your monthly mortgage payment. Lender-paid: Your mortgage lender covers your PMI costs in exchange for raising your interest rate; this method can save you money at closing but cost you more over time. Recording fees: Local governments require a copy of your title before it will recognize you as the property’s legal owner. Your title company usually handles this transaction, and they’ll charge you a fee for that service. However, that’s not always the case, so be sure to ask. Title search fee: Before you can purchase a property, someone must verify its ownership. A title company handles this process, ensuring no one else can claim the property after you purchase it. The company charges a fee for this service, and it often comes hand-in-hand with title insurance, which protects the buyer from future claims against the property. This fee varies by location and property; it ranges from $200 to $1,000. You can save money by searching for a title company within your budget. Overall, to save money, you should compare lenders and their fees to make sure you’re getting the best possible deal. You’ll see these fees on a document called a closing disclosure. These are the different costs to consider when buying a home. Source: BiggerPockets Blog

11 Home Improvement Projects That Don't Add Value

By Dusty Rhodes • 01 Apr, 2024
Some improvements have limited appeal to home buyers, and may even affect your sale price when you go to sell. One of the best things about owning a home is the ability to change things up, whether it’s knocking down a kitchen wall to open up space or filling your backyard with your favorite fruit trees. That freedom also offers unlimited opportunities to make mistakes, at least when it comes to spending money on home improvements that don't add the value you’d hoped for. Of course not all home improvements are made with an eye toward adding value. Your home is your castle to enjoy as you please. If, however, you’re planning to sell soon , it might be a good idea to consider whether the improvement projects you’re considering will pencil out when you’re ready to move on. Don’t expect a dollar-for-dollar return Modest home improvements that tend to make the home cleaner, safer and more functional are good bets for sellers, according to Zillow® research. However, big-ticket items, such as pools, major kitchen and bath remodels and extensive landscaping undertaken for the sole reason of adding value might not bring the return you hoped for. According to the Remodeling 2023 Cost vs. Value Report , which estimated the return on investment on some common home improvement projects, only four improvements boosted value on resale: electric heating and air conditioning conversion, garage door replacement, manufactured stone veneer and replacing a steel entry door.* What’s more, Zillow research into home features that help homes sell for more — or less — than expected shows that buyer preferences change over time. So a trendy home update made today for the sole purpose of adding value can seem dated — or even detract from the value — in five or 10 years. With that in mind, here are 11 home improvements that might not pay off when you sell your home. 1. Turning your kitchen into a white wonderland According to Zillow research into the paint color preferences of home buyers, a white kitchen can hurt a home’s sales price by more than $600. Instead, today’s buyers tend to prefer dark gray tones such as charcoal and graphite. If you don’t care about the trends at the time of resale or if you plan to repaint prior to selling, you might consider how you want to feel in any given room and paint accordingly. Or you can just go wild. 2. Adding a walk-in closet Zillow’s 2024 research into home listings shows that walk-in closets can hurt a home’s value by 0.7%, a relatively small amount but an indication that it might not be worth the cost to add a space where you can see all your clothes. If you’re tempted to turn a small bedroom into a closet, think twice before doing so. Home shoppers usually search for homes based on the number of bedrooms, and a homes’ value is derived in part from the number of bedrooms it has. Bottom line: a bedroom is going to be more valuable to most buyers than a walk-in closet. 3. Adding a deck A wood deck costs about $17,051, but this home improvement does not add value overall — it only adds $8,553 at the time of sale, a return of about half what you’ll spend, according to the Cost vs. Value report. The cost is even higher for composite materials, and the return even lower: just under 40%. This is one of those features, though, that might transcend costs considerations. If you love a good deck for entertaining, it could be worth it to build it for your own enjoyment, without worrying about whether you’ll get a full return on your investment down the road. And if the deck improves the view from the property, it could make the home more attractive to buyers while allowing you to enjoy a better view in the meantime. Also, home buyers’ enthusiasm for outdoor features remains high, so anything that enriches home life outdoors could be a win. 4. Turning your garage into a bedroom While bedrooms are certainly important, you might not want to sacrifice a garage to create one. Listings that mention garages are associated with a slight sales premium: 0.3%, according to Zillow’s 2024 analysis of listings data. Parking is often tight in urban areas, and with the high price of cars, homes that allow for safe parking could have an edge over homes without a garage that can also serve as a handy storage space. An exception could be if you converted the space into an Accessory Dwelling Unit , also known as an ADU, casita or mother-in-law unit. Zillow research shows that growing numbers of buyers want the ability to rent out all or some of their home . Additional Zillow research suggests that private spaces are growing in demand, and sellers are mentioning “privacy” or “private spaces” in their listings more frequently than in the past. If your home is short on private spaces, it could make sense to convert the garage. If you’re trying to gauge whether a garage is a must-have for most buyers in your local market, consult a local real estate agent . As for that extra usable space that was a must-have during the peak of the COVID pandemic, when people who could work from home did so, it’s possible the return to office work will see a slowdown in listings that mention private space. 5. Installing an in-ground swimming pool This one is a mixed bag. Whether the pool becomes an asset or a liability depends on a number of things, including the pool’s size, age, condition, location on the property and housing market. The main drawback is the cost, and the fact that other projects would be a greater return for the same money. An in-ground pool can set you back about $23,370, according to the home services website Thumbtack, which calculated the national average cost of installing a pool over the last four years. Add in fencing and landscaping, and you’re looking at an investment of nearly $30,000, according to Thumbtack. If you’re a pool person, that is money well-spent. If you’re not, you’re not likely to recoup the cost of building one. A Zillow analysis of 2023 home sales found that homes with saltwater pools sell nearly three days faster and sell for about $5,238 more than comparable homes without one. But depending on the climate, prospective buyers might not want to spend the time and money and vigilance it takes to keep a pool clean and safe. This could translate into fewer views and offers when you go to sell. 6. DIY — done badly We love DIY , and there are plenty of projects you can do yourself to improve your surroundings. But there’s also a reason skilled tradespeople command high prices. Their expertise helps ensure beautiful outcomes that a new buyer isn’t going to have to spend money to redo. When you’re DIYing something for the first time – tiling a bathroom, for example, or installing a hardwood floor – there’s a learning curve that you should account for. If you have a hankering for a feature, and want to see what you can pull off with your own labors, make sure you have the skill to tackle it. Spending big money on materials isn’t going to feel too good if the outcome is poor. 7. Creating a luxury bathroom Bathroom remodels are some of the most expensive improvements you can undertake. Even a simple bathroom remodel can set you back more than $20,000, and won’t necessarily pay for itself when you go to sell. But the more luxury bells and whistles you add, the lower your return on investment. For example, the cost report estimates a $24,000 mid range bathroom remodel would provide about a 67% return on investment, but an upscale one would return only about 37% of the $77,000 such a remodel could cost. 8. Wall-to-wall carpeting Carpet has a lot of upsides, especially when it comes to warmth, and there are a ton of new styles and textures to spice up any space. But carpeting isn’t as popular as some other flooring options. For-sale listings that mentioned new carpet sold for slightly less (0.4% less) than comparable homes without it. Buyers, however, are willing to pay a small premium (1.2%) for luxury vinyl flooring. So if you’re thinking of floor coverings, and you like the feel of carpet on your feet, consider whether you’ll get the same enjoyment from an area rug. 9. Bamboo flooring Bamboo is a relatively inexpensive and more sustainable form of flooring, but it, too, has fallen in popularity. Listings that mentioned bamboo floors sold for 0.8% less than comparable homes. 10. Laminate countertops Changing up countertops can transform a kitchen or bath, but one material never seems to make it to the list of trendy or popular materials, and that’s laminate. Although there are some attractive options that mimic natural and made-made stone for a fraction of the price, homes sold in 2023 that mentioned laminate sold for 1.1% less than comparable homes. 11. High end fixtures If you’ve got the money and derive pleasure from eye-catching fixtures, go for it. But it’s unlikely someone is going to buy your home because they’ve fallen in love with your $3,000 chrome faucet or light fixture. Consider choosing cost-efficient, attractive, well-made fixtures for updates instead. Home maintenance has a big impact on home values A well-maintained home can sell for about 10% more than a similar home in average condition, according to Thumbtack research . So while improvements can add value to your home, regular maintenance will keep your home in better condition so that there are fewer improvements to tackle when you do decide to sell. Some things to keep an eye on: cleaning gutters, resealing grout in the kitchen and bath and having heating and air conditioning systems serviced regularly. Source: Zillow

What Hurts Property Value? 7 Things to Address Now

By Dusty Rhodes • 25 Mar, 2024
Property values fluctuate as a result of many factors, and as a homeowner, it’s important to be aware of factors that can drive home value down. Some of these factors are out of your control, such as market conditions, interest rates, and the economy, while others are very much in your control. From unappealing renovations to neglecting maintenance on your home, some projects, or lack thereof, can negatively impact your property value. It’s best to be aware of what hurts property value so you can protect your home and get the most ROI when it comes time to sell. 1) DIY projects gone wrong Many homeowners take on home improvement projects to not only make their space more livable and enjoyable but to also add value to their greatest investment. Whether it be a bathroom addition, adding a deck, or purchasing a fixer-upper with the promise of profit for flipping it – most people start a project with the idea that it will increase the value of the home. As exciting as the projects may be, they can sometimes turn out not as expected and hurt your property value. Are you wanting to build a deck, extend the kitchen, or remodel the bathroom? Even if you’re an expert at smaller DIY projects, it’s better to leave the bigger remodels and renovations to a professional. If not executed properly, they can hurt your property value. 2) Lack of curb appeal First impressions make a difference when selling a home. So, your curb appeal should entice prospective buyers and help your home sell faster. If you’ve noticed the exterior paint is chipping off or your trees and shrubs have seen better days, chances are potential buyers will notice too. Luckily, you can achieve great curb appeal with some minor adjustments. Update the exterior paint. The color of your home is oftentimes one of the first things a buyer will notice. Faded, chipped, and flaking paint can dramatically decrease your curb appeal and hurt your property value. Update the exterior lighting. If the pathway leading to your front door is dimly lit or your fixtures are outdated, now is the time to update the exterior lighting. Exterior lighting helps your home feel more inviting and complements your landscaping. From post lights, LED lights, solar lights, and wall mounts, the options are endless. Switch out your old fence. Worn fences are an eye-sore and can take the attention away from your home and hurt your property value. Replacing your fence for a new one can give your yard the boost it needs by enhancing the greenery, and showing prospective buyers that you care. Fencing comes in a variety of different options such as wood, vinyl, aluminum, wrought iron, and composite. Consult with professionals to determine what material is best for you. Landscaping. When selling your home, it’s best to go with an easy-to-care-for and clean landscape design to appeal to buyers, and increase the property value of your house. Simply edging the beds, mulching the garden, and pruning the trees and hedges can transform any landscape. Wash the windows and the siding. It doesn’t take long for your house and windows to form a layer of dust, dirt, fingerprints, or even algae. This can leave your house looking dingy and gray and hurting your property value. Replace your front door. It’s no surprise that front doors quickly begin to look worn and tired with daily use and harsh weather. Replacing your front door is a quick and cost-effective way to add curb appeal or add a pop of color to your home. 3) Unsightly interior wall paint Just like exterior house paint, streaky, chipped, or low-quality paint could discourage potential homebuyers and hurt your property value. A fresh coat of neutral paint on the cabinets, walls, and trim can make all the difference. Busy and bright wallpaper, tiles, or flooring can also divert the attention of the buyers away from your home. The best rule of thumb is to always choose neutral options for permanent items. Then incorporate color with your décor and furnishings. 4) Lack of upkeep It’s important and necessary to keep your home in great condition and regularly perform general home maintenance chores. Letting your home fall into disarray and neglecting it will hurt your property value and could have consequences on your list price. Buyers will want to negotiate repairs to avoid any major expenses following the sale. This is why most buyers require an inspection contingency in their contract. If something breaks, be sure to fix it. And if you don’t know how to fix it, hire someone who does. This will prevent any issues from getting out of hand. It’s often more expensive to remedy any problems the longer you wait. Keep an eye out for any problems with your roof, foundation, HVAC system, gutters, and if a rodent or pest infestation emerges. If you develop any of these issues it’s important to hire a professional immediately. 5) Carpet everywhere Your carpet will be in great condition during the first few years of owning your home, but will quickly begin to show signs of use, start retaining odors, and can be difficult to keep clean. Not only will buyers be wary of wall to wall carpeting because it can be expensive to replace, but it can also collect indoor allergens . If possible, it’s best to stray away from carpet and opt for hardwood, laminate, or tile flooring. 6) Excessive clutter Every home manages to accumulate belongings throughout the years, and you usually don’t realize just how much clutter you’ve collected until you’re about to list your home. Just as dirt and grime build-up, so can clutter. If your room is overcrowded with stuff, it’s a good idea to clear some of your belongings out. Donate items you no longer need or want, and find hidden, permanent homes for the items you use just once in a while. Decluttering is an inexpensive way to add value. 7) Unpleasant smells Not only do offensive smells leave a bad and lasting impression, but they can also hurt your property value. Whether the lingering odor is cigarette smoke, pet odor, or mold, it’s best to identify the root of the smell and eliminate it. Avoid masking the smell with a strong perfume or fragrance. To avoid unpleasant smells altogether, it’s best to keep your home clean. Routine cleaning includes vacuuming and dusting regularly, wiping down countertops and surfaces, and cleaning the bathroom and kitchen. Source: Redfin Blog
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