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- Opendoor, a real estate technology company, looked at the factors that most detracted from a home's value in 20 cities across the US.
- It found that while things like having carpeting and an outdated kitchen could decrease your home's values, location factors you can't have control may be the most costly.
- Living in an industrial area could drop your home's value by nearly $10,000 on average, and having a sloped backyard could drop your home's value by an average of about $7,000.
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If you're getting ready to sell your home, you probably have already put a lot of thought into things like its curb appeal, fresh paint, and small repairs. Maybe you've bought new appliances, or even had major home repairs or remodels done that you've been putting off. But, there are some things that you simply can't change that could be bringing your home's value down.
Real estate technology company Opendoor's real estate trends expert Beatrice de Jong tells Business Insider that while you should do the things you can to add to your home's value, other things - like where your home is located and the lot its on- are more about setting realistic pricing expectations.
A study by Opendoor looked at purchase offers made on homes between June 2018 and June 2019 in 20 US metro areas. They averaged the amount each issue with a home brought the offers down. Things like replacing cheap countertops, swapping carpet for another flooring type, and changing out cabinet doors made the list of issues that decreased a home's value the most, on average.
But, some things you can't change are the most costly detractors, like having commercial neighbors, a sloped backyard, or less-than-tidy neighbors - which could bring down offers by $5,000 or more.
Whether they can be fixed or not, Opendoor found that these 12 things are the most likely to take away from your home's value.