Americans invest a large amount of money into their homes. Home repairs, maintenance, insurance and mortgage payments can easily cost 35 percent or more of a homeowner’s income. Most homeowners count on being able to recoup their investment when it comes time to sell their home. A home’s value to buyers depends on many factors. Here are some things that often impact the value of homes.
Many homeowners want landscaping that is low-maintenance. No one wants to spend their entire weekend carefully tending the lawn. Landscape your lawn using native grasses and plants. Choose plants that are drought tolerant as these require less maintenance and water. This is especially important in areas that have water-use restrictions, such as California and Nevada. Plant low maintenance flowers, shrubs and groundcovers. These increase curb appeal, yet will not require lots of care.
If your neighbor’s front yard looks like it could be featured in an episode of “Hoarders”, then it will likely affect the value of your home. When appraisers assess your home, they take into account the condition and appearance of surrounding homes. A run-down house next door can have a huge impact on your home’s value. So, what can you do in this situation? Start by having a friendly talk with your neighbor. Tell them that you are planning to sell and that they will benefit by cleaning up since if your home is sold for a good price, the value of their home will likely go up, as well.
Neighborhood crime rates are readily available on the internet. Most buyers check this information out before purchasing a home. Even though your neighborhood might not have a lot of violent crime, minor acts of property crime can affect home values. If crime is on the rise in your neighborhood, even if it is minor, make sure that you report it every time. It is helpful to install secure locks on the windows and doors. A home security system will increase the value of your home, as well. In addition, joining or starting a neighborhood crime watch can prove to keep crimes rates low in your neighborhood.
A home’s value is affected by many factors, many of them external. If you are considering selling your home, consider the above tips to help increase your property value.