Surprise! There’s a chance that you have more knowledge in the field of real estate that you thought. For instance, you may know that the square footage, the amount of bedrooms and bathrooms as well as the size of the lot and the area determine the value of your home for a 4,000-square-foot five-bedroom, five-bath beachfront home that is for purchase within Miami, FL, is likely to be much more valuable than a 2,000 square-foot 2 bed, 2 bath home located on a quarter-acre property 20 miles to the inland. However, these obvious aspects don’t necessarily help you determine your home’s valuation. Other, less obvious factors may be considered and may be features you’d not have thought about. These are the eight most often ignored aspects that either way, for better or worse, could affect the value of your house. 8 Surprising Factors That Can Affect Your Home Value:
1. The street’s name
The majority of people prefer the street they reside on to be identified by a name rather than a code. It’s the same across the nation (with the exception from New York, NY in addition to Atlanta, GA in which there is no distinction in the two cities, as well as Denver, CO in which numbers are preferred). Based on a study conducted from Trulia, “street” is the cheapest address suffix in terms of cost per square foot. Likewise “boulevard” is the most expensive.
2. Your home number
Have you ever heard the concept of home numerology? This is the process of assigning a one-digit number to your residence by the address. Let’s say that your residence is at 1219 Main St. Add 1 + 2 + 1 + 9 to arrive at 13. Then add 1 + 3. Your home would then be number 4: ideal for security and investment, however not the best for excitement and adventure. Although this kind of house numerology can be dismissed as a myth people who believe in this idea may miss out on houses that are worth considering due to their numbers calculation. But, regardless of whether you’re a fan of numerology, house numbers are important. For instance, if your home’s address has 13 (a generally unlucky number) it is possible to value your home a little lower than your neighbor who is number 12.
3. The neighbors are shady
It is the closer you are near your neighbors the more crucial it is for your preferences, habits and personality to be in line with the neighbors. “In a condo, the last thing a potential buyer wants is to purchase a unit where the neighbors above are noisy or inconsiderate,” says Thomas Miller, who is a specialist on Washington, DC, real property. Homeowners who own a single-family home can be grateful to their neighbors who are meticulous and have impeccable taste in order to raise the value of their properties. However there is a flip side real: “I know a homeowner who had great difficulty selling their home because their next-door neighbors constructed a giant memorial dedicated to Michael Jackson on the front lawn,” Miller says. Miller. If you ever would like to voice your displeasure regarding your homeowners association imagine that picture.
4. Mature trees
The environmentalists and tree huggers come together! It’s a common custom for developers to trim the majority (or almost all of) the trees in a lot for the purpose of building houses. However, mature trees usually increase the value of a property. Still don’t believe it? Go through the National Tree Benefit Calculator to discover the complete advantages of planting certain kinds of trees. If you have space, go to your local nursery in order to discuss the best options for trees for your property.
5. Crown moldings
If you’ve taken the time to pick the perfect peaceful and neutral paint colour scheme that is likely to be the most popular choice for people, you’re doing your an injustice if you don’t consider one crucial element that is crown moldings. “People love crown moldings,” says Alexander Boriskin, the New York, NY, agent. “Of course, everyone loves high ceilings too,” Boriskin says. Even though you don’t have any control regarding how high your ceilings are however, you are able to add crown moldings even with low ceilings. Be sure to match them in harmony with the size of the room and make sure you don’t go too far into the zone of trend.
6. Yankees paraphernalia
Yankees fans, take a break. We’re not picking just you. Even though this tale of New Jersey real estate agent Kevin Lawton happens to pertain to his New York baseball team, it could be a reference to any team you want to here. “Everything in the home was Yankees,” Lawton claims. “[The sellers] even had carpeting in the family room that had baseballs on it.” The conclusion? There were many people who were dissatisfied and especially Red Sox fans. If you don’t wish to displease buyers it might be a good idea to put the fan equipment in your house while it’s being sold.
7. Starbucks
And Trader Joe’s and Whole Foods. If you’re near one of those businesses close by generally less than a mile away, so the value of your home. “Homes near Trader Joe’s have increased in value by an average of 40% since purchased,” says Chris Leavitt who is a South Florida and New York, NY, agent and former participant on the hit TV show Million Dollar Listing Miami. “Nearby Starbucks and Whole Foods Markets also enjoyed double-digit gains on home value.”
8. A death in the property
In certain states, like California Sellers are required to reveal the fact that there was a death in the home this can be a deal-breaker for certain buyers. California Agent Tracey Hampson previously showed a home in which a fatal overdose of a drug occurred inside the master room. “On average, once the buyers found out there had been a death on the property, two out of five buyers that were interested suddenly said, ‘Thanks, but no thanks.'”
There’s even a word for the home that someone has passed away in that was It’s a place that’s stigmatized. “It refers to a home that has been the site of a murder, suicide, or paranormal activity or haunting,” states Michigan agents Kelly Jo Choate. Even in the event that your state doesn’t have an obligation to disclose death If someone inquires for information, you should answer. It’s the proper choice to make.
