01/13/2023
Understanding the factors that can risk devaluing your home and taking them into consideration can put you head and shoulders above the competition. Here are 5 external factors that affect home valueโ
1๏ธโฃ๐ง Prominent Infrastructure
Close proximity to power lines, commuter rails, highways, and other infrastructure could devalue your home significantly as a result of personal preference or safety and noise concerns.
2๏ธโฃ๐ One Word: Location
Many buyers are looking for a home near amenities, such as grocery stores, banks, restaurants and entertainment. Being close to good schools is also attractive to young families.
3๏ธโฃ โ Neighbourhood Eyesores
Weโve all seen them. That one house that sticks out like a sore thumb on a tree-lined street of pristine homes: the overgrown grass, old boats, kids toys strewn all over the yard. Not only are these things hard on the eyes, they also have a negative impact on the value of your house.
4๏ธโฃ๐ช Neighbourhood Crime
Now, unless youโre going to put on a cape or join the Neighbourhood Watch, you have absolutely no effect on the crime rate in your community. The crime rate, however, does have a significant effect on your homeโs value.
5๏ธโฃ ๐ฆ Splish Splash
Some home buyers may dismiss a home that comes with a pool. The extra expenses and home maintenance that come along with owning one may be less attractive to buyers currently in the market.
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๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ ๐๐จ๐๐๐ฒ!
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๐ israelshapiro.com
