Everyone understands that cosmetic changes and material improvements can add value to a home. But there are some other issues that could immediately discourage buyers from offering on your home. Read on to learn what they are (and what to do about them!).
Things You Can't Change (But You Can Market Around)
Street name: live on “Wimpy Way”? Street names may stick out to potential buyers and be a detractor. You can’t change it. However, you can (a) make light of it or (b) downplay it in your marketing.
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.
Power plants or landfills: close to utilities? These can lower your property value. While you can't hide all aspects of your homes location, you can build up all the positives that offset some of the negatives.
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. A good real estate agent can also assist in bringing the publics' attention to the exception that depressed properties are, rather than the norm.
Neighborhood: school systems, neighborhood reputation and other dynamics will invariably impact how potential buyers feel about your home. These are unavoidable, but your home still has value! Consider all the following to separate your property from the others.
Aesthetics (Sometimes Less Is More)
Bright colors inside: a common piece of advice offered by REALTORS® is “neutralize your décor” before selling.
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.
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.
Dirty driveway and sidewalk: dirt and residue on a sidewalk and driveway can make your home look unkempt, dingy or older than it is. A little pressure washing can go a long way
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.
Proper Positioning
Major roads: if you are near highly trafficked roads, it can be a drawback for some buyers. Talk up new and well insulated windows or other ways the home is shielded from the noise and busyness. Tall landscaping might be the key to side-stepping this concern as well.
Nearby neighbors: if you have a lot of renters in your neighborhood, it might be less appealing to future buyers. Unless of course your property is in a popular rental community, as much of Hilton Head Island is.
Major airports: if you are near an airport, buyers may be afraid of the noise. Instead, you can bill the home as “commuter friendly”!
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 pieces of land. And the neighbors are very quiet. For the right buyer, this can be a benefit.
Even More Factors
Think we’ve covered it? Think again. Here are some additional factors that could impact your home value:
High Crime Areas
Energy inefficiency
Flood plain (This is always a concern in a coastal community. Fortunately, the Lowcountry has been trending toward more favorable flood plains over the past several years)
Over improvements (careful not to turn your remodel into an eyesore)
Niche improvements (Usually a plus, unless too unusual)
Space allocation (Smart use of space is always a plus, but don't be afraid to leave open spaces as well)
When you are ready to make the smart decision to get top dollar for your property, please contact me. Together we will discuss and determine the best strategy to accomplish your real estate goals.
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