If you’re buying a home there are four things that affect the resale value of the home. If you’re selling those four things can greatly affect what that buyer uses to decide to offer or even if they offer at all. So what are they?
First, it’s the old adage “location, location, location” at work. Yes, location matters… a lot. The neighborhood matters. Whether the Realtor showing the home or representing the buyer can say so, people know a “good” neighborhood or a “bad” neighborhood.
Crime stats are easily available, as are neighborhood demographics. As a buyer, you want to know that the home you are buying is in a safe place. As a seller, you want that as well since price depends on it. There isn’t a lot you can do about location, but giving your home an added level of security, if necessary, can help.
Next up, school districts. If you have a home that would be attractive to a family, good schools are very important. If you don’t, they don’t matter. It’s pretty simple. So if your home is in a great school district and your home is a good starter or move up family home, play up the schools! If the public schools aren’t so wonderful, be sure to mention proximity to parochial or private schools with great reputations.
House in a subdivision? Homeowner’s association rules, whether strict or lax, can make or break a sale. If your neighborhood has strict rules that could be good because it keeps the integrity of the neighborhood intact. That means that everything from landscaping to home colors to what you can or can’t park in your driveway are regulated. If the buyer thinks that maintaining home values is worth following restrictive covenants, they will pay the price for it.
Lastly, pool or not? In Florida, a pool is an asset, but it can be a detracting factor for a family with small children. If you have a pool and want to keep that family as an interested buyer, be sure you have all of the pool safety features they would be looking for. Gates, alarms, automatic covers should be in place.