Monthly Archives: December 2016

Moving Out? Know What Could Impact Your Home Resale Value

Home Resale ValueThe New Year brings with it a clean slate, a clear calendar page, and 365 days filled with opportunity. While some people are starting a new personal improvement or health regimen, others are excited about the memories they’ll be making in a new home. If you’re one who is looking to sell your home in 2017, here are some important things to know that might decrease the value of your home. Some of these you can’t change, but others are easy fixes that can keep your home resale value – and your hopes – up.

Major Key Points For Your Home Resale Value

Curb Appeal:

The first step you should take when you plan to list is to clean up your yard. Remove any trash, non-operational vehicles, dead plants, and be sure to secure your foundation. Planting a few flowering bushes and a fresh coat of paint on porch rails, shutters, and light fixtures can make a huge difference.

Interior Appeal:

A move-in ready home is one in which the buyer won’t have to make many changes to remove your personal taste. An individual or family is more likely to purchase a home if they can easily visualize themselves living there. Consider updating your kitchen or bath, repairing any holes in the walls, and painting in a neutral color to appeal to masses. And although they can be difficult to remove, work on eliminating any lingering odors caused by pets or years of accumulated indoor smoking. These can be big deterrents for potential buyers.

Type of Neighborhood:

It’s only natural to avoid homes with loud or inconsiderate neighbors. The same goes for dogs that are uncontrolled or bark constantly, as well as disruptive areas located on busy roadways. Families with young children may even note if there are registered sex offenders in the area. There is very little a person can do to change any of these unfortunate living scenarios, but by personally knowing these factors you’ll be less blindsided if they affect your home resale value.

Surrounding Foreclosures:

In areas where the market is overflowing with excess stock and houses in foreclosure or short sale status, property value has a tendency to plummet. The main reason for this is that buyers understandably grow suspicious of neighborhoods with a high number of surrounding foreclosures. The best way to keep interest in your house alive is to point out how many repairs and renovations have been done to make your property move-in ready, saving them time, stress, and extra investments.

Serious Repairs:

Whether your driveway is cracked or your siding is damaged, investing the small bit of time or money now to get it fixed can yield a higher return when selling your home. Plumbing repairs can especially cause conflict, so schedule a thorough inspection to address any problematic piping or leaks. Prospective buyers will shy away from a purchase that requires extra attention.

School District:

A major deal-breaker for parents or parents-to-be before deciding on a home purchase is the nearby school district. Schools with low rankings are detractors, so check out how your district rates on Great Schools before you list. A highly reviewed area can be a huge selling point to those with growing families.

Nearby Needs:

Individual buyers have very specific ideas of where they want to live. Your proximity or distance from shopping, dining, entertainment, and medical care can impact desirability. Some buyers may prefer the peace and quiet that comes with a secluded house, however, the majority of them seek convenience over isolation.

The Season in Which You Sell:

Most people sell and buy homes from late spring to early August, with May through September being the peak. Not only are families typically free from house-hunting during the school year, but they’re able to avoid trudging through inclement weather; as all New Englanders are very familiar with. To get the most, list your home in the spring.

Again, some of these circumstances can’t be completely avoided, but being aware of them will spare you any surprises about your home resale value. If you do decide to list your home in 2017, keep theses fixable instructions in mind for a greater return and better start for the next place you decide to call ‘home’.

Whenever you move to a new location, you want to always secure the homestead with the best possible insurance coverage. Receive your Massachusetts homeowner’s insurance quote from Northeast Insurance!