What affects property values?
Some of the features that increase property values are obvious-like a remodelled bathroom, a modern kitchen, or a sought-after neighbourhood. But here are a few features and circumstances you have not have realised can affect property values.
- The neighbours: Not every neighbourhood or community has a Home Owners Association that can keep the neighbours from going overboard with decorations or neglecting to care for their home. Homes adjacent to crazy neighbours can potentially be undervalued.
- Trendy groceries and coffee: Recent statistics suggest that if your home is a short walk from popular grocery stores or trendy coffee shops, it can actually appreciate faster than the national average.
- Mature trees: A big beautiful tree in the front yard is enviable, and it’s not something that can be easily added to any home. Homes with mature trees tend to get a little boost in value.
- Parking: This isn’t too much of an issue if you live in the suburbs or in a rural area, but residents in dense cities can have real problems with parking, and homeowners might need to rent a spot just to guarantee a place to park each night. That’s why having guaranteed parking in urban areas will raise property values.
- The front entrance: First impressions matter to buyers-many will cross a home off their list within 10 seconds of stepping through the front door. An appealing front door, a friendly entryway, and a functioning doorbell are all necessities for getting top dollar.