When you are selling your home, the price you set is based on more than square footage and whether you have original hardwood floors or laminate. You may think your home is ideal, but there are a few strange factors that can drive the value down, some you can help, while others you have no control over. Listing your home? Consider how these five factors might affect your final asking price.
The Company You (Don’t) Keep
Noisy, quarrelsome neighbors aren’t just frustrating to live near, they can drive the value of your property down. Constant bickering over property lines, loud music, an unkempt lawn, annoying pets or how close your house is in proximity to a registered sex offender are all factors that can affect the valuation of your home. While you can’t change their behavior, the least you can do before putting your home on the market is to try and mend the proverbial fence so the neighbors place nice when potential buyers are in the area.
Your kitchen may be a little dated, and while a remodel will generally add value to your home, it’s easy to overshoot the sweet spot. When you want to renovate, a good rule of thumb is to go for basic instead of broke. Too much personalization and you run the risk of the potential new owner not seeing the value and either offer a lower bid or take a pass altogether. If you feel like you it needs an upgrade, think sink, counter tops and cabinets.
The same can be said for the bathroom. Opt for understated, mainstream and tasteful features that can easily be changed if the new owners want to upgrade their own space in their own way.
Getting Too Creative
A dramatic feature wall might suit your personal style but bold, bright colors – both inside and out – can turn a potential buyer off. When the time comes, a fresh coat of pain in a neutral color may not tack on a couple extra zeros to your asking price but it will make the space more enticing.
Olfactory Offensive Pets
While it’s true that many people love cats and dogs, no one wants to live with the constant reminder of a former owners four legged companions. Damage to carpets, walls, and floors, or strong animal smells will surely scare off buyers, especially those who suffer from pet related allergies. You may want to let Fluffy and Fido live somewhere else while your property is for sale, at least for the showings, and definitely hire a professional cleaner to help perform a deep clean, and repair or replace any visible damage.
Location, Location, Location
Buy now we all know the most important thing in a perfect home is its location – but this can work either for or against you. Proximity to transportation, amenities, education and other services are high on everyone’s list of “wants”, but airports, busy roads and highways, pubs open late, power lines, or other environmental eyesores can keep the offers from rolling in.