si25 FACTORS THAT IMPACT YOUR HOME VALUE
Did you know… your home value is about more than comps and a fresh coat of paint. Get real insight into what important items can impact your home value.
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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!).
1-5: Things You Can’t Change (but can market around)
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.
6-10: Aesthetics
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. 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.
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.
11-15: Positioning
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 has “commuter friendly”!
14. Major airports: if you are near an airport, buyers may be afraid of the noise. Instead, you can bill the house has “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.
16-25: Even MORE
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
21. Pollution
21. Pollution
23. Over improvements
24. Niche improvements
25. Space allocation
Some of this is changeable. All of it can be spun by the right real estate professional. 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? I can help! Contact me and we’ll get your home sold!
Cole & Jamie Boling
Keller Williams One Legacy Partners, LLC,
Real Estate Agents Phone:
785-230-5513
team@thebolinggroup.com
License: SL00227945, KS
thebolinggroup.com/
Keller Williams One Legacy Partners, LLC, Real Estate Agents,
2655 SW Wanamaker Rd, Topeka 66614 Office: 785-230-5340
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