Do you really understand what factors affect the resale value of your home? Everyone knows that having a remodeled kitchen or a large backyard will affect the resale value of your home; however, did you know that being closer to a Starbucks correlates with a higher sales price? According to research from Zillow, “Between 1997 and 2014, homes within a quarter-mile of a Starbucks noticed an increase resale value by 96 percent, on average, compared with 65 percent for all U.S. homes”
Having your morning cup of joe close by is one factor that increases the resale value to your home, but there are a number of items that may negatively affect the resale value of your home. You may want to use caution when considering a property with electrical poles on the lot. Many buyers fear electrical poles; be particularly cautious when purchasing a property with transformers on the lot. Some people believe these are linked to certain health risks. Others simply don’t want someone entering their property every time a major storm causes a power outage. I also recommend looking at the title policy closely when purchasing a property. Keep an eye out for any easements noted. These may be for utility companies or a variety of other reasons. Regardles, electric poles, transformers or easements may affect the resale value of your home.
Convenience to local transportation can also affect the resale value of your home. I have heard horror stories of people purchasing a home and later realizing that a daily train made such a racket they could not live comfortably in the house. Also be cautious of purchasing a property on a busy street as street noise has been known to affect resale value. That being said, in some areas, being close to public transportation may actually be positive, thus, increasing the desirability of the property.
These tips are good eye openers. However, they are not all encompassing. If you are considering making a purchase and it is important to you to understand the resale value contact me for an in-depth analysis. You may also want to consider dowloading my free ebook which offers tips and tricks for increasing the resale value of your home.
This post originally appeared on shesellsaustin.com