Things to Check To Avoid Devaluation of Your Property

by Anurag Gupta Real Estate Consultant

If you are making up your mind to make an investment in buying a home, let me tell you, it would be a serious deal to crack. Being an investor, you should take the idea of investment too lightly. It is because buying a home is considered as one of the most significant investments which a person would make in his life, putting in all his savings.

Thus, you need to ensure that the one you choose is a good one and worth your investment. We usually check around the random factors like location, price, etc. Amidst all of it, you are very likely forgotten about the fact that the value of the home can drop too. There are several causes that can lead to the fall in the value of Property in India.

Here, in this article, you will come across a number of factors that are very likely to drive down the value of any home or residential property drastically.

Renovation Projects

The DIY renovation project is in trend now. There are several shows and you are very likely to cross path with advices which motivates you to complete these major DIY projects and do something extraordinary. Most of us have this typical idea that adding up temptation leads to an increase in the value of the property. However, you need to understand that these DIY renovation projects can pose a great risk to the value of your property too.

So, it is important to consider the fact that whether the particular project is leading to an increase or decrease in the value of your home. Fall in the value usually happens because the outcome sometimes does not come up as expected, which leads to the reduction of the value. As per professionals, if you are going in for DIY improvements, it is advised to go in for the simple ones where the chances of going wrong are at its minimum, and improvements can be done easily.

Neighbourhood

No wonder if you try implementing bright improvement hacks and features to make your home look perfect in every possible way; if the surrounding conditions are poor, buyers are very likely to repel. The poor neighbouring situation is very likely to demotivate and prevent new buyers to select a particular property in India. So, it is recommended to check through the place, the neighbourhood and invest only in a proper location if you are looking forward to having a proper return from your investment in the near future.

Unpleasant Smell

Not a single person would go in for a property that has a consistent source of some unpleasant smell nearby. So, it is important to deal with the source of such a smell and eliminate it to get a potential buyer. Before calling a buyer to check your property, it is advised to identify the origin, clear off the smell and make your property look and smell all perfect.

Location of the property

The location of the home plays a significant role in determining the growth and fall in the value of the property. The property should not be too close to the railway tracks or in the middle of a street, which is affected due to loud traffic. Most buyers look forward to owning a home that has a calm, serene and peaceful environment. So, if you are looking forward to an earn better profits from your home in the future, make sure you invest in an area that has a good location. Ideal, in terms of distance from the available facilities as well in terms of the surrounding ambiance.