Hidden Gems: Finding Additional Value in a Home

By
Real Estate Agent Associate Broker

Whether you are buying or selling a home having the ability to identify hidden value is an important skill to obtain. Having the right real estate professional representing you is your key to success. The ability to determine the value of property is the cornerstone of the real estate business.

Buyer’s agents as a matter of business assist their clients by making sure their clients do not pay more for a home than they should. A listing agent's goal is to assist their sellers obtain the highest and best sales price that the market will allow. As an agent when you view property you are looking at it from several different angles. One of those angles is the potential that a property holds.

 

So what are some of features which can relate into hidden value in a property?

  1. Unfinished Bonus Rooms/Basements or Undocumented Finished Rooms/Basements – Unfinished space that can be finished adds extra square footage and value as well as function. Sometimes, there may be bonus rooms or basements that have been finished, but not indicated in the listing or tax records.
  2. Warranties – Transferable warranties that are left behind by a previous owner can be a gold mine, nothing like saving on repair costs and having piece of mind.
  3. Included Appliances – Obtaining these items as a part of your purchase can make moving into a new home more cost effective with less cash out of your pocket.
  4. Dock Rights – Got a boat or other water toys, having dock rights included in your purchase can save you on dock rental and storage fees.
  5. Outbuildings – Additional structures on the property that serve or could serve a valid function such guest quarters, gym or storage facility.
  6. Memberships to country clubs, golf courses, lakes, etc. – Sometimes sellers, offer a paid membership to the local country club as an incentive to a buyer.
  7. Property Surveys – Knowing your property’s exact boundaries and features is priceless. Especially if there plans to add an element such as a fence to your property.
  8. Rental Space – Any component that can draw income such as an in-law suite or fishing and hunting rights.
  9. Timber – Are those trees located on the property timber trees? If so, depending on the species, size and quality of the trees you could command premium compensation.

These are just a few of the possible hidden gems you can find hidden in a home. You just have to have an open mind and the right real estate agent representing you of course!Visit my web site for insight on how I assist buyers and sellers in the Atlanta metropolitan area  real estate market at www.MetroATLRealEstate.com.

 

 

 

Posted by

Stacey Williams, Associate Broker

Ken Harris and Associates Realty

(678)523-1621 - Direct

(770)998-9859 - Office

www.MetroATLRealEstate.com

Stacey@MetroATLRealEstate.com

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Winston Heverly 06/14/2014 02:27 PM
Topic:
Home Buying
Groups:
Active Rain Newbies
Real Estate SEO
Atlanta Homes For Sale
Tags:
buyers
atlanta
georgia
advice
real estate
sellers

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Rainmaker
60,400
Stacey Williams
Alpharetta, GA
Experienced Metro Atlanta Real Estate Agent
Aly - Thanks for reading and commenting. Yes, gems can be found everywhere. You just have to be willing to look and know how to look. Carolyn - Yes, proximity to public transaction and shopping is definitely a hidden gem. Kimo - Hopefully, the seller's agent is assisting the buyer's agent uncover the hidden value. Terry - I agree, bringing on a new listing can be intense even for the most organized individual. This is why we must be be co-operating agents to have successful transactions with happy clients. Michael - You are absolutely right. That's why it is important to be able to recognize the gems and point them out through your marketing.
Mar 13, 2014 04:23 AM #24
Rainmaker
1,431,210
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

Smart agents know where to look for hidden value.  Smart agents also know how to maximize those assets to get extra money for sellers

Mar 13, 2014 05:46 AM #25
Rainmaker
1,060,712
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

Selecting a Realtor to represent you in a real estate transaction is of tremendous value whether you are a buyer or seller.  Many buyers are unaware that the listing agent represents only the seller.

Mar 13, 2014 06:40 AM #26
Rainmaker
60,400
Stacey Williams
Alpharetta, GA
Experienced Metro Atlanta Real Estate Agent
Gordon - There is nothing like having a good real estate agent representing you. Sharon- Thanks for reading and commenting.
Mar 13, 2014 11:09 AM #27
Rainmaker
1,675,376
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Stacey, Without a Real Estate Agent, buying a homes can lead to nothing but trouble.

Mar 14, 2014 12:38 PM #28
Rainmaker
60,400
Stacey Williams
Alpharetta, GA
Experienced Metro Atlanta Real Estate Agent

Larry - I certainly agree with you.

Mar 15, 2014 12:00 AM #29
Rainmaker
1,286,871
Jon Kolsky
Kolsky Realty & Management - Long Beach, CA
Licensed California Real Estate Broker

Stacey~ this post is a hidden gem and I love it *SUGGESTED*

Mar 15, 2014 01:05 AM #30
Rainmaker
978,522
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Great list of added benefits that aren't always apparent to a buyer.  Being the best agent and working to uncover those hidden assets is a gift to your clients.  Kudos!

Mar 15, 2014 02:34 AM #31
Rainmaker
60,400
Stacey Williams
Alpharetta, GA
Experienced Metro Atlanta Real Estate Agent

Jon - Thank you!

Jan -Thanks for reading and commenting.

Mar 15, 2014 03:48 AM #32
Ambassador
1,850,096
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Oh yeah, I'm hitting the button on this one too Stacey. This is a great post. D

Mar 15, 2014 04:01 AM #33
Rainmaker
514,713
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

Sometimes it is a small feature that will really sell the buyer, esp if they are indescisive and choosing between several properties. The hidden gems you mentioned are also of value!

Mar 15, 2014 07:32 AM #34
Rainmaker
60,400
Stacey Williams
Alpharetta, GA
Experienced Metro Atlanta Real Estate Agent

Mary - Sometimes it is the smallest feature or possibility that secures a purchaser. Thanks for reading and commenting.

Mar 15, 2014 07:34 AM #35
Rainmaker
2,777,520
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Stacey - Thank for the great list of tips on finding hidden gems additional value in a home.

Mar 16, 2014 03:29 AM #36
Rainmaker
60,400
Stacey Williams
Alpharetta, GA
Experienced Metro Atlanta Real Estate Agent

JOhn - Thanks for reading and commenting!

Mar 16, 2014 04:22 AM #37
Rainmaker
3,813,100
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Stacy,

I'm coming over from Jerry Newman's post this morning featuring you! Welcome to ActiveRain..this is an exceptional post with great tips on finding hidden gems that give additional value in a home. See you around in the rain!

Mar 18, 2014 09:23 PM #38
Rainmaker
60,400
Stacey Williams
Alpharetta, GA
Experienced Metro Atlanta Real Estate Agent

Dorie - Thank you for visiting my blog and reading a post. I appreciate it.

 

Mar 19, 2014 03:34 AM #39
Rainer
148,584
Manuela Baginski
Coastal Properties Group/Christie's International Real Estate - Tierra Verde, FL
bilingual Real Estate Professional in Tampa Bay

What a super post!  As sellers we need to see all their gems.  And as realtors our job to point them out!  I enjoyed your chart in the middle ...  effective visual!  Thanks!

Mar 19, 2014 11:15 PM #40
Rainmaker
60,400
Stacey Williams
Alpharetta, GA
Experienced Metro Atlanta Real Estate Agent

Manuela - Thanks for the compliments. The chart is by WordArt, a free alternative to pictures in a blog. Thanks for reading and commenting.

Mar 20, 2014 01:03 AM #41
Ambassador
4,210,849
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Great post Stacey, always important to go beyond what the next agent would do and really research the attributes of a property.

Jun 14, 2014 03:19 PM #42
Rainmaker
60,400
Stacey Williams
Alpharetta, GA
Experienced Metro Atlanta Real Estate Agent

Bob - You don't identify what you have before you will not be able to help a seller get the highest and best or your buyer may not why a property is priced the way that it is or miss a goldmine.

Jun 14, 2014 11:41 PM #43
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Stacey Williams

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Contact Me With Your Real Estate Needs! Call 678-523-1621 TODAY!
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