Your Las Vegas home is more than a roof over your head. It has been there for life’s special moments and has hopefully grown your wealth through equity over time. Unfortunately, not all properties in Las Vegas turn out to be a long-term investment. Some areas have seen depreciation and others haven’t fully recovered from the 2008 housing crash.
If your home is depreciating, here are six possible reasons why. You may be able to address some of them, but for those you can’t, it’s worth seeing if you can sell your house for cash in Las Vegas.
1. Deferred Maintenance
Dated and damaged structures lower your property value. When was the last time you checked your home’s structure or made repairs and improvements? If it has been a while, you can expect your home to sell for less than your neighbor’s. Here are some things to look for:
- Old HVAC system
- Termite damage
- Wood rot
- Frayed electrical wires
- Leaky plumbing
- Cracked driveways and pathways
2. Improvements Not Built to Code
If you made improvements without a permit, you can lose money in the long run. Here’s why. Home additions built without a permit are illegal and won’t count as square footage in your appraisal. You can get a retroactive permit but be prepared to make changes to bring things up to code.
3. Outdated Kitchens and Baths
Kitchens and bathrooms sell homes, but having old, outdated rooms will bring down your property value. Fortunately, you can make affordable updates that will breathe new life into these rooms such as by painting cabinets, upgrading hardware and fixtures and replacing bathroom vanities.
4. Poor Landscaping
Just because Las Vegas is the desert doesn’t mean you shouldn’t have anything green in your yard! Home buyers always pay attention to curb appeal. In fact, many drive past homes before scheduling a showing. At a minimum, trim plants, keep your lawn green, plant flowers or a cactus garden, clean exterior lights, repair your driveway, etc.
5. Damaged Roofing
Installing a new roof raises your property value significantly. Not only does it offer curb appeal and protection, but also it saves the new homeowners from having to take on this project themselves. If you replace your roof, also consider new gutters and siding at this time.
6. External Factors
Sometimes, it’s the things going on around you that bring down your property value – not the home itself. If you are dealing with any of these things, you can expect to have a harder time selling your Las Vegas home:
- Registered sex offenders nearby
- Increased noise pollution
- Neglected homes on the block
- Nearby garbage dumps, power plants, hospitals, etc.
- Poorly ranked schools
Sell Your Fixer Upper to Us! We Buy All Houses in Las Vegas!
If you feel that your home requires too much work and attention to make it sellable, consider selling it to a cash buyer. We Buy Any Vegas House is a team of cash home buyers that invest in real estate. It doesn’t matter what condition your home is in or where it’s located – we buy all homes! Contact us today to get a free cash offer on your fixer upper in Las Vegas.