Bensman Risk Management, Inc.


Insurable Interests

Bensman Risk Management, Inc.
2333 Waukegan Road Suite 275
Bannockburn, IL 60015
847-572-0800 Phone
847-572-0502 Fax

Insurable Interests may offer general financial, insurance, tax and business ideas. However, due to the ever-changing tax laws as well as the complexity of the financial industry, you should seek professional advice before implementing any of the ideas contained in this newsletter. The Bensman Group, Bensman Associates Ltd., Bensman Risk Management, Inc. or Schemata, L.L.C. assumes no liability whatsoever in connection with the use of this newsletter.

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Securities offered through Kestra Investment Services, LLC (Kestra IS), Member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC (Kestra AS). Kestra IS and Kestra AS are not affiliated with The Bensman Group, Bensman Associates Ltd., Bensman Risk Management, Inc. or Schemata, L.L.C.

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Insurable Interests

Vol. 14, Issue 9May 2019

FINANCIAL INTERESTS

Things That Hurt Your Home Value

Your house is one of your biggest investments, so you don’t want to unknowingly do something that can lower its value. MSN.com suggests 15 common mistakes that can make your home sell for less, or not sell at all.

Getting upgrades done without the appropriate permit. Many appraisers and home inspectors ask for these permits. If you don’t have them you might not sell your home or, if you do, you might be vulnerable to future lawsuits.

Making too many upgrades. Homes in the same neighborhood generally sell within a fairly limited price range. Too many upgrades could make your house harder to sell because buyers don’t expect it to increase much in value once they buy it.

Too much customization. If you cover your walls with decals of your favorite team, potential buyers will worry about the cost of repainting.

Sloppy DIY work. Do-it-yourself projects can save money. But if they look like DIY instead of like a professional job, they can hurt your home’s value.

Making your garage into living space. An extra room is good, but most buyers would rather have the garage.

Adding a swimming pool. If you live somewhere where it is summer most of the time, a pool can be a bonus. Otherwise, though, buyers often see the cost of maintenance and the danger to young kids.

Personal collections. You might be very proud of your collection of Hummel figurines or baseball gloves. But put them away before you put your home on the market. Potential buyers might not share your passion.

Changing a bedroom into an office. Reducing the number of bedrooms decreases a home’s value. If you want to show how a bedroom can be used as an office, put in office furniture rather than building in shelving and a desk.

Strange paint colors. It’s fine if you want a pink bedroom and a purple living room. But repaint in neutral colors before you sell.

Venting the bathroom fan into the attic. Home inspectors are likely to check for this ventilation shortcut, which can lead to a buildup of moisture inside and then to mold or rot. Make sure that bathroom fans are vented to the outdoors.

Not cleaning the gutters. Ignoring this seasonal chore for a long time can cause blocked gutters, which in turn can cause water damage to the walls and foundation.

Built-in electronics. This reduces the flexibility of the spaces in your home. Also, as technology advances, the built-in electronics become outdated and decrease the home’s value.

Pet odors. You might not notice them, but potential buyers will. Ask a friend to tell you honestly if they notice any pet smells. If they do, invest in a deep cleaning to get rid of lingering odors.

Complicated landscaping. Buyers generally approve of landscaping. But if yours is especially complex, they might be put off by the amount of maintenance that it requires.

Unfriendly neighbors. If you don’t get along with your neighbors, they can make things difficult for you when you put your house on the market. Try to patch up any disputes with neighbors so they are not tempted to sabotage your sale.

This article was created by Osmosis Digital Marketing for use with permission by The Bensman Group.

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