Every 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 affect its market price. If this is your home then try and find ways to accentuate the positive.
1. 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. Pond or Lake? This is often a double-edged sword. The views can be wonderful, but again, parents with little children are often scared away.
3. 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. Homeowners’ 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, doesn’t store his boat in the driveway, or doesn’t build an amazingly ugly addition off his garage.
5. 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. Schools? 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 emptynesters, singles, or families that prefer private schools.
7. Adequate Bathrooms and Closets? The challenge with older homes is they are designed differently than modern homes. In many cases 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 a buyer who is familiar with older homes and appreciates their benefits. This buyer does exist, but you may have to patient.
While no location hurdle is too high that it can’t overcome, you need to be realistic about your home’s potential shortcomings. When these challenges are present, your most powerful tool is price. With the guidance of a professional, correctly pricing your home will always lead to a successful sale.