Whether you are selling your existing home for quick cash or are shopping for a new house, there are many things other than square footage and landscaping that affect home values. If you are selling, then there isn't much you can do about these factors, other than understanding that they exist and plan accordingly. However, if you are a home buyer, you can use these factors to your advantage to negotiate a better sales price.
Below is a list of four odd factors that can affect the sales price of a home:
Factor #1: The Street Name and Numerical Address of Your Property
While you may have never given it a second thought, some people are very particular about things like your house number and street name. For example, many Christians would feel strange about an address that contained the numbers 666 in succession, because some see this as a representation of the devil. At the same time, many Asian buyers often appreciate homes that have the numbers 2 and 8 in them because they are seen as lucky numbers in their culture.
In addition to your home's number, some buyers are also particular about street names. For some, living on Easy Street or Lucky Street are prime locations, while others will balk at living on Bomber Drive or on a street with a name that no one can easily spell or pronounce.
Factor #2: Overgrown Landscaping and Large Trees
Some home buyers do not appreciate homes that have large trees or overgrown landscaping. Overgrown landscaping often makes a home look dated, rather than established. Large trees on a property signal future bills to have them trimmed and possible property damage lurking after seasonal storms.
If you are a seller, you should trim trees and vegetation to help alleviate these issues for potential buyers. If you are a home buyer, then you can use these issues as a bargaining point to get a better price.
Factor #3: The State of a Neighbors Home and Yard
Even though a neighbor's property has nothing to do with your own, a neighboring home that has been clearly neglected or has overgrown landscaping will also deter buyers and warrants a lower sales price if you are buying.
Factor #4: The Local Shopping Options and Restaurant Offerings
Finally, while you don't have any control over this issue, the lack of local shopping options or restaurants can also affect the sales price of a home. If you are selling your home, then you can assuage some buyer issues by leaving behind a list of your favorite shopping locations and the time it takes you to get to each. If you are buying a home, you can use its lack of shopping and social venues to your advantage while negotiating. For more information, talk to a professional like Home Remedies LLC.