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Things that Affect Home Values

Things that Affect Home Values

You may have looked up what the estimate of your home’s value is online. This is purely a number based on what other homes in the neighborhood are selling for. There are some obvious factors that you need to know to calculate your home’s value. These include: how many bedrooms, how much square footage and how much land the home resides on. There are some not so obvious factors that are included in calculating the value of a home. Here’s some things that could affect a home’s value:

The Neighbors

If you live close to any neighbors, they will play a factor in how much you can get for your home. If your next door neighbor has strange taste in paint color or has built an eccentric shrine in his front yard, potential buyers may be turned off. You can’t pick your family. However, if you’re moving you do have a say as to what kind of neighbors you’ll surround yourself with. Be prepared for this to affect your home value if this is the case.

Trees

Did you know that trees increase the value of your property? When properties are being built, trees are often cleared away. If you have trees around your property that have grown, you’ll find that you can get a bit more for your home. Want to add value to your home? Get planting!

Crown Moldings Are King

People love crown molding. You can put in crown molding as an easy way to add value to your home and be more attractive to buyers. While buyers look for high ceilings, crown molding can certainly be a deal breaker.

Your Hobbies Are A Buyer’s Hobby

If you have anything in your home that buyers love, they’re more likely to want to buy the home. If you’re a huge football fan, and a buyer comes along with matching interest, you could add some more attention to your home. The reason is that buyers can easily see themselves there due to the shared interest. But, this also has a reverse effect. Not everyone is a football fan. If you want to appeal to a larger pool of buyers, (which you probably do) you may want to get the extensive hobby paraphernalia out of your home before it’s shown.

A Crime On The Property

If there was a death on the property or a significant crime, people will be turned off. This will significantly affect the value of your property. You’ll most likely have to reveal the death or the crime in the buyer’s disclosure as well based on legal requirements.

What’s Nearby?

Whatever is nearby could have a significant effect on your home’s value. Whichever kind of grocery store or restaurants are nearby can really help the value of your home. People love their daily coffee! If there’s a unique coffee shop down the street, or a popular grocery chain, you could be looking at potential gains on the value of your home.

To get a real grasp of the value of your home in the current real estate market you will need a CMA Report (Current Market Analysis). As a service to our network,Terra Firma Realty offers these reports free of charge with no commitment to sell. Keeping track of your property value is an important part of home ownership, and we are here to help! In this report we analyze recent comparable sales, and take into account the specifics of your property to give you a current value range. If you are interested in getting a CMA for your home, email us at team@terrafirmarealtyma.com or call 781-489-8859. All we’ll need from you is verification of the specs of your home, and an email address where we can send you the report!

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