Whether you are looking to keep your home’s value protected or want to put it on the market in the near future, you need to know what impacts your home’s value. Here are seven unexpected things that can have an effect on your home’s value.
1. Your House Number
Does your house number end in 8? That could be a good omen, because in Asian culture the number 8 is considered lucky. Does it have a 13 in it? You may find that you get a slightly lower value because of superstitions surrounding that particular “unlucky” number.
2. Your Trees
Tall, majestic and mature trees make property values go up. People like the look of trees, and savvy home shoppers know that shade helps insulate the home against heat gain in the summer and heat loss in the winter. If you have a good tree in your yard, keep it protected!
3. Your Neighbors
Neighbors that are less than desirable are a nuisance, but when it comes to your home, they can also be a problem on your home’s value. Noisy, messy or sketchy neighbors can pull down your home’s value. Unfortunately, there’s little you can do about the guy next door, but this is something to keep in mind when shopping for a new property.
4. Your Street Name
Did you know that living on a “Street” instead of a “Boulevard” can actually hurt your home’s value. Historically speaking, people view “Street” addresses are more affordable and “Boulevard” addresses as more affluent.
5. “Fan Gear”
Sure, you may love the Cubs to the moon and back. You may have your own individual shrine to Wrigley. But potential homebuyers don’t want to move into a home filled with paraphernalia to your favorite team. No matter how die hard of a fan you are, don’t alienate potential buyers (and hurt your home’s value) by keeping too much of your fan gear on display.
6. The Right Shopping
If the shopping centers near you attract more affluent individuals (like a Whole Foods or a Starbucks), then your home’s price goes up significantly. The proximity needs to be fairly close, within a mile or so, for this to have a significant impact, but if a Starbucks is being built down the road, you are in luck!
7. The Finishing Touch
As you prepare your home for sale, consider adding crown molding. Crown moldings are something that buyers seem to love, and they can be installed quickly to add value to the property.
As you can see, many factors can impact your home’s value. If you are considering putting your home on the market, take a closer look at those you can impact, and make changes to give your home the best chance of selling at a good, fair price.