What affects the value of your home?

Usually, when people ask this question they are thinking about what will devalue their property. There are several aspects that can reduce home sale price. One of the most important is location. If you live close to the airport or your home backs on highway or train tracks, it will affect your home value negatively. If a cell phone or hydro line tower can be seen nearby your house, it is also not a good news. Interesting thing about neighbourhoods is that they are like people. They go through a life cycle. If it is going downhill, the value of your home will decrease as well.

The closer your home is to the amenities, shopping, public transit or highways, the more confident you will feel yourself during a home sale. How walkable is your location? If very walkable, it will be another reason to ask a higher price for your home.

Next important constituent is the quality of neighbourhood schools. It is amazing how school rating can drive up or down the price of our home. People with children of school age is one of the biggest group among homebuyers. As a realtor I try to educate my buyer clients – the better school the wealthier neighbourhood.  

Everything mentioned above is something that is out of our control to minimize devaluation of a home. Though there are more things within our influence that help increase the value of a house and its salability. Thing #1 is a curb appeal. The stronger curb appeal is, the more buyers will want to see your home inside.

During showing buyers will pay attention how well maintained your home is, how cluttered/uncluttered it is. It is recommended not to use odd colours. Has your home been fixed and prepared for a new owner? If you are not handy, use professional service. Shoddy work will turn off most of home-buyers.

Is there a pool on the property? Or high maintenance pond? It will make harder to sell your home. It will affect negatively a sale price of your home.

Do you own a pet? It can also reduce a value of your home. Want to know how, go here.

If you are thinking to move in or move out, give us a call, we will insure a smooth transition. Let our experience work for you.