Are you planning to buy a home that can be sold later? If yes, then you must know that owning a home with multiple amenities is not a wise choice. Now, you must be wondering why a home with many features should not be bought? So, here in this blog post, we are letting you know how an expensive property can bring down the selling value of a property. In short know the reasons why a residential property can diminish the Return on Investment. Scroll down the blog post and read more:
- Tech-friendly Home Fittings
This is the first thing that will bring down the property value as the prospect looking for a residential property consider the locality before making a final decision. In fact, the new property owner has to decide whether the tech-friendly fittings are required or not. For example, video-door facility, modern kitchen appliances, bathing equipment and more are not the requirement of every homeowner. So, flaunting a tech-enabled home can cost you a wise deal as this is not something that can convince a buyer to own your property.
- Swimming Pool, Club House
The addition of these amenities to a property looks good till the time you live there. But, the features are nothing but a disadvantage for you as a seller. The primary reason for this is interest. For example, having a swimming pool and clubhouse can a style statement for you but for a home buyer these amenities are more of an expense. Obviously, the maintenance of these amenities is not easy and would ask for a handsome amount. Hence, this is not the cup of tea for everyone. So, think twice before owning a home with expensive amenities as it can backfire at the time of sale.
Many people love to have a carpet of fresh grass in the lawns along with a variety of seasonal flora. In fact, the placing of a fountain, designer lamps and classy seating arrangements are the things of interest. But, be cautious as a home buyer might turn down a deal due to the attached expensive amenities to a property.
- Designer Wardrobe/ Cabinets
These are the essential amenities of a home but if you plan to take these features to the next level then think again. Every person has its own style to set up a home and thus keep things simple inspite of adding expensive amenities to the property is a clever decision.
The major way to attract homebuyers is to own property in a prime location and to keep the asset nice and clean.