25 Factors That Impact Your Home Value
Most people understand that cosmetic changes can add value to a home.
But there are some other issues that are going to immediately discourage
buyers from bidding on your home. Read on to learn what they are (and
what to do about them!).
1. Street name: live on “Wimpy Way”? Street names may stick out to
potential buyers and be a detractor. You can’t change it. You can (a) make
light of it or (b) downplay it in your marketing.
2. A neighbor’s home: live next to a hoarder? You may not be able to
conceal that fact, but you can direct attention elsewhere by pointing out
“nearby” amenities or positives about the neighborhood.
3. Power plants or landfills: close to utilities? These can lower your
property value. However, you can again focus on amenities “in the other
direction” or nearby that offset that deterrent.
4. Nearby foreclosures: comps are a big deal. If there are numerous,
visible foreclosures and eyesores near your home, you’ll have to go the
extra mile to amp up your own curb appeal and show off in comparison.
5. Bad schools: if the school system is poor or has a bad reputation, it can
be a stigma for families. You may choose to market your home to elderly
people or busy professionals who may not have children.
6. Bright colors inside: a common piece of advice offered by realtors is
“neutralize your decor” before selling.
7. Bright colors outside: you may love your hot pink shutters and door,
but your outdoor paint is also a point of consideration for curb appeal
and home value.
8. Excessive landscaping: if you are a horticulturist, you may love the
proliferation of spidery plants and unique vines. The maintenance this
implies for homeowners could be a turnoff.
9. Dirty driveway and sidewalk: dirt and residue on a sidewalk and
driveway can make your home look dingy or older than it is. A little
pressure washing can go a long way.
10. Dirty roof: same goes with a roof. It may look older than it is if it’s
caked with gunk and grime. Get it professionally cleaned and you’ll get
fewer questions about how old it is.
11. The lot: corner lots may sell for more and where you are on a lot can
be used to promote a higher value. Some people love the phrase,
“eastern facing windows” in a home description.
12. Major roads: if you are near highly trafficked roads, it can be a
drawback for some buyers. Talk up new windows or other ways the home
is shielded from the noise and busyness.
13. Nearby neighbors: if you have a lot of renters in your neighborhood,
it may be less appealing to future buyers.
14. Major airports: if you are near an airport, buyers may be afraid of the
noise. Instead, you can bill the house as “commuter friendly”!
15. Near a cemetery: some people are superstitious or just don’t want to
live near a cemetery. The good news is, cemeteries are often beautifully
kept piece of land. For the right buyer, this can be a benefit
Think we’ve covered it? Think again. Here are some additional factors that
could impact your home value:
16. Energy inefficiency
17. Broadband access
18. Invasive plant or animal species
19. Unpleasant home history
20. High crime
22. Flood plain
23. Over improvements
24. Niche improvements
25. Space allocation
Remember, no matter how many of these boxes your home
ticked, the right buyer is out there somewhere!
Ready to make strategic decisions to get top dollar for your home?
We can help! Contact us and we’ll get your home sold!
Team Success Listing LLC
email@example.com / 810-338-0628