Typical property valuation is determined by square footage, bedrooms, bathrooms, and lot size. However, there are peculiar elements that can impact the value of your home. Some of these elements are positive and some negative. Before buying your next home, pay attention to these items, they may calculate an added value or take away value in your home.
4 Positives that drive up the value of your property:
- What is in a name- Believe it or not, if your address is 123 Main Street, you have a better valuation situation in your property than if your address was 123 1st People don’t typically like to live on streets with numbers as the main address. They prefer living on streets with XYZ Drive in the title. Also, if your address ends in a boulevard, your property is one of the most desirable addresses to have! Example, 123 Big House Blvd Sparks, NV, is a street name that can drive up big revenues for your property.
- Curb Appeal- According to the National Tree Benefit Calculator, certain trees in certain neighborhoods can drive up your property value. This is a situation where big and old is better. Many property buyers love the idea of finding a home lined with big Oak trees. Before selling your home, owners should speak to a landscaper or visit http://www.treebenefits.com/calculator/ to determine which trees would best drive up their property value. In the Sparks, NV area, Willow Oak is one of the species recommended by Tree Benefits. Planting this tree could add value to your home.
- Architectural Features- Crown moulding is a very popular choice when it comes to decorative features. Ryan Frey, from We Buy Houses, recommends this feature as inexpensive way to add value to your home. Visit a local Home Depot or Lowes and meet with a design specialist to help guide you in purchasing the best molding for your home.
- Location, Location, Location- Living close to Trader Joes, Starbucks, or Whole Foods can lead to a tremendous opportunity that may add value to your home. Not only living next to one of these stores is convenient but also can add some extra cash to your “house” wallet when you go to sell your home. Next time you decide to get a latte, pay attention to the houses in that neighborhood. This might be the area you want to buy your next home.
4 Negatives that drive down the value of your property:
- The Hatfields and the McCoys- There is something to be said about good fences make good neighbors. Before purchasing your next home, go ahead and ask about the neighborhood. Use sites like, crimereports.com or familywatchdog.us, to determine crime rates and sex offenders registered within the area you are looking to buy a home. One big trick to sleeping well at night is to know you are safe in your own home!
- definitely more. Before you put your house on the market, make sure your San Francisco 49er loving husband didn’t throw up his 49er merchandise all over his man cave. Houses need to remain décor “neutral” to attract the most amounts of buyers. So ladies, tell the men in your life to forgo sport loving memorabilia. You never know the next buyer of your house may be a Raiders fan.
- Stigmatized Properties- Would you live in a house that was supposedly haunted? What about if someone died in the home? Nevada is one of the states that doesn’t have a death disclosure requirement. Before buying your next home, don’t be afraid to ask the realtor if the house is haunted, did someone die in the home or did anyone suffer from a highly contagious illness in the home? It is better to find out the answers to these questions before you buy the home. After all, you don’t want the nosey neighbor to tell you after the fact!
- To cool for school- Did you know your local schools affect your property value? After buying that latte from Starbucks, pay attention to the schools in that neighborhood. Write down the names and compare them on sites like greatschools.org, or K12.niche com. Taking your kids to a low ranked school doesn’t provide the best education for them and can drive down the value of your home.
This article was brought to you by We Buy Houses ASAP, Sparks, NV!