November 6th, 2020
Not everything that contributes to your home value falls underneath your roof. Plenty of external factors, such as neighbors and nearby amenities, can also increase (or decrease) your home value. If you’re thinking of selling your house, check out this list of 5 surprising things that increase your house’s worth!
Smart home technology
65% of home buyers are willing to pay $1,500 or more for smart home technology, according to a survey by VentureBeat. This technology can be affordable to install yourself (although it can also open your home up to privacy risks), making it a great ROI opportunity before you sell.
Smart home security systems and smart home climate controls are the two smart home features surveyors were most excited about, followed by smart lighting and smart safety.
Did you know that living near green spaces can increase your property value by up to 20%? If you’ve been looking to take on a new project or hobby, consider starting a community garden in your neighborhood. This will help foster a sense of community and make your home more appealing to prospective buyers!
In addition to gardens, other green spaces that increase your home value include parks, playgrounds, and golf courses.
Nearby street art
Here’s another one of the 5 Surprising Things That Increase Your House’s Worth. Living in a colorful, creative neighborhood can improve your home selling chances. A U.K. study found that 43% of people prefer living in a neighborhood with beautiful murals more than a neighborhood with a local coffee shop. An additional study found that 70% of Americans felt that art improved their local community.
Art has many other additional benefits beyond selling: it can also create a sense of belonging and make residents feel closer to their neighbors.
Proximity to Starbucks
Living close to a popular retailer such as Starbucks can greatly increase your property value. This is a combination of convenience and popular retailers opening in up-and-coming neighborhoods. Zillow observed that houses within .25 miles of Starbucks saw a 96% increase in property value from 1997-2013. Other chains that pay big include Whole Foods, Trader Joe’s, and Walmart. And don’t forget, it doesn’t have to be a big chain, often, small neighborhood “village feel” shops like what is found in Lunada Bay are better and make for one of the 5 Surprising Things That Increase Your House’s Worth
Your neighbor’s lawn
If you have a junky neighbor next door, it could cost you. Your neighbor’s lawn and curb appeal could reduce your home value by up to 10% if it’s not up to par. Consider offering to help your neighbor work on a home improvement project together, such as fixing a gate or doing lawn work. You can also contact your HOA.
Other factors beyond your control, such as ghosts, nearby billboards, and local noise pollution can also devalue your home or property value.
To learn about even more things that increase your house’s worth, check out this visual from The Zebra below!
Karlyn McKell is a writer who specializes in the real estate and insurance spaces. She believes the best ingredients for success are passion and purpose.
I want to make sure you’re using at least one of these two utilities; it’s important because …
- they are cutting edge in each of their categories and
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- rather the importance in the results of the “big data” tech that informs you how many REAL buyers are actually searching NOW for a home matching your home’s characteristics! No other broker can do this for you and pay PLENTY to bring this service to my clients!
Find out how many real buyers want your home now