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And the two lists below are mostly non-overlapping.https://www.aol.com/article/finance/2017/01/27/9-things-that-crush-the-value-of-your-home/21701935/
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http://www.businessinsider.com/factors-lower-home-value-2016-11
–Dee
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This is a great list of things to AVOID when buying a house too.
Even if you can get the house 1/2 price or with great terms… if you can’t sell it or rent it, the house will end up costing you month. You should PASS!
I’d add at least one thing to the list –
Crime Statistics for the area. You can research this online. Avoid areas with high crime statistics. Patti discovered this when doing a HBS in the Phoenix area. It was hard to get people to the house, let alone find a buyer. And the few buyers who did come along had poor credit and/or no money.
Some houses are just functionally obsolete. These can be fixed but it will take a lot of $$
What else would you add to the list?
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Undivided interests (aka fractionalized interests) in a property.This article explains very well what a mess that can be:
http://www.andersentax.com/newsletter/2011/august/undivided_interests.php
When two or more owners disagree on such issues as
1. What to repair or what to upgrade.
2. To what uses can a property be put to.
3. Whether to sell or not.
not only is the property crippled, but the potential is there for infighting among the owners who see no way to solve their problem.
–Dee
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Here’s a wild story about a guy’s house in Maryland that has been smacked by a car after jumping a curb FIVE times since 1971 (area traffic signs top out at 30 mph):http://www.fox5dc.com/news/232983911-story
Do you suppose that might ding the house resale value a bit? Or maybe in his state that’s not a legally disclosable issue? I don’t know the law there.
–Dee
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