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Did You Think About This Before You Bought Your Home?

October 1, 2009

Because the people looking at your home now, are.

home-for-sale-signEvery buyer is different. Something that might deter one buyer from making an offer on your home may actually be the thing that encourages another. Here are some things that you probably cannot change about your home but may hurt its market price.  If this is your home then try an accentuate the positive.
1. Are you near a major street? Is it in front of your home or in back? People with young children may be concerned about this. Adding a fence in your back yard may help, but top notch interior design might be the best thing to help distract the buyer from the negatives of a busy road.

2. Is your home on a pond/lake? This is often a double edged sword. The views can be wonderful, but again, parents with little children are often scared away.

3. Are you near a railroad track or airport? While some people love to watch the trains and airplanes as they pass by, the threat of excessive noise at strange hours will deter many buyers. Not much you can do about this other than hope the right buyer comes along.

4. Does the neighborhood have a home owners’ association? Some people love them, and others hate them. They can be restrictive and sometimes expensive, but they will make sure your neighbor takes care of his lawn or does not build an amazingly ugly addition off his garage.

5. What is the condition of the neighborhood? Often when there is no home owners’ association, the neighborhood can become a bit disheveled. Does the neighbor have a broken down car in the front yard or a privacy fence that is falling down? Many features of the neighborhood that are outside or your control as a seller are very important to the buyer.

6. What are the schools like? If the schools are award winning and receive good word of mouth, then you have a better opportunity to sell your home. If you live in a bad school district, you are going to have to hope for empty nesters, singles, or rich families who will use private schools.

7. Will the bathrooms and closets be adequate in the future? The trouble with older homes is they are designed differently than modern homes. The construction may be better, but usually the closets are too small and there are not enough bathrooms. While a closet may be easy enough to add, a bathroom is an expensive venture. If your home is lacking in these or other features, you’ll need the perfect buyer who is knowledgeable about the home’s amenities. You just have to be patient to find the right buyer.

While no hurdle is too high that you can’t overcome it, you need to be realistic about your home’s potential shortcomings.  Ultimately, it will all come down to price.  When these challenges are present, sometimes the only change you can reasonably make is to the price.

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