|If you’ve been getting ready to sell your home, you’ve probably been wondering what all factors affect the value of your house. Of course, factors like the square footage, the number of bedrooms and bathrooms, the location and the lot size play a significant role in affecting a property’s value. But, is that all? Before you start looking at a free online house valuation, here are 10 surprising factors that can affect the value of your house and how you can avoid it! |
1 Death on the property
As soon as potential buyers find out that there has been a death on the property, 7 out of 10 buyers will back out. While death disclosure is usually not a requirement, it is better to let potential buyers know the cause of this death instead of hiding the truth for them to find out later.
2 Landscapes and trees
If the street you live on has a lot of greenery and beautiful trees on the sidewalk, potential buyers automatically assume that it is a wealthy neighbourhood. Seeing landscaped gardens and wide streets with tall trees while driving to a potential home will increase property value in a buyer’s eyes before they even reach the house!
3 The number of your home
Some buyers believe in numerology as well as Vastu. In that case, the number of your home can play a significant role in affecting the valuation. Some buyers might not be willing to buy a house if it is number 13, while those who believe in astrology might not want a home with the number 8! You might want to get in touch with estate agents in Orpington to find potential buyers who don’t believe in numerology if the number of your home happens to be ‘unlucky’.
4 Name of the street
Surprisingly enough, the street’s name has a lot to do with the valuation of a home! If your home is on a road or lane that ends with the suffix street, it is considered a less expensive area whereas the suffix ends with a boulevard and is regarded as an affluent and costly area. So, the value of your property can increase or decrease in a buyer’s eyes merely depending on the name of the lane you live on.
5 Is it a school zone?
Research has shown that there has been a significant increase in the price of real estate located close to a school zone. Being close to a school zone is one of the biggest highlights for any property! If your home is close to a high-performing school or a world-renowned school, then the value of your property will get a significant boost!
6 Noisy neighbours
No one wants to buy a house next to noisy neighbours. Believe it or not, neighbours can actually play a big role when it comes to decision making time for potential buyers. If you’ve got quiet neighbours with good taste, then you’re pretty lucky. However, if you’ve got loud neighbours with strange things in their garden and patios, then you might have a problem.
7 Interior design matters
Another surprising factor that can affect the value of your home is terrible interior designing! Potential buyers will tend to reject homes that they feel have ‘bad taste’. This could mean anything from loud floral wallpapers to bright yellow bathrooms. That is why it is recommended that you always use neutral and straightforward interior decor when you put your home on the market.
8 The potential to renovate
If buyers see that there is potential to renovate, they will be more than happy to offer. The chance to renovate gives the potential buyers a chance to make this house their new home by adding aspects that they like. If buyers feel that they can make an outdoor patio, create a terrace garden or maybe put a swimming pool in the backyard, they’ll be happy to pay the asking price without hesitation.
The proximity to supermarkets greatly affects the value of your home. Say, if your home is walking distance to a mega supermarket or even a local supermarket, the value of your property goes up. The closer your home is to a supermarket, the more you can raise your asking price based on this key factor! After all, who doesn’t love the convenience of a supermarket that is mere steps away?
10 It’s all about the storage
Storage space such as an attic or a garage can greatly increase the value of your home! Buyers are always looking for more and more storage space, so if you have extra storage space in your home, then that is a big plus. If you’ve got storage space in your apartment, that is an even more significant plus!