Published Date 5/2/2023
Different strokes, right? Before you commit to a full-time relationship with a house that interests you, however, it might be a good time to think not so much about your feelings, but about the reactions others might have to this home-to-be in case you have to sell.
Pshaw, you say? Why would it matter? As long as you love it, others would love it too! That’s where you’re wrong. Some of your favorite features might actually keep someone (or a number of someones) from buying it when it comes time to sell. Design and architectural details like pools and multiple stories are features that tend to split homeowners evenly, with half considering them a no-go and the other half completely obsessed.
Realtor.com’s Jaime Wiebe says while these features won’t necessarily be the main factors determining whether or not you sign on the dotted line, it’s best to know exactly what you’re getting into.
The first is having a school next door. What? Families with kids would adore having them walk a mere block or two to school every day. But buyers without school-age children won’t see it that way. The traffic and kids wandering everywhere through their streets is not their idea of a peaceful neighborhood twice a day nine months a year. “With schools come endless lines of cars and yellow buses—as well as a tempered speed limit that might make getting to work each morning a monumental pain,” says Wiebe. “Oh, and all that joyful, exuberant noise from the playground? Not so joyful when you’re working or relaxing at home.”
Just because some of us love to look out our windows and see the world going by: restaurants, bars within walking distance, a favorite vintage shop just three doors down, and easy access to major thoroughfares doesn’t mean someday buyers want to live directly adjacent to a busy street.
“Homes that are on busy streets command less value than interior homes,” says one Realtor Wiebe interviewed. There are many more not intrigued by the activity than those who go looking for it near the house they buy. But if you go into your purchase knowing the risk, you’re far less likely to be surprised 10 or 20 years down the line.
Single levels, split levels, two levels. Homes come in lots of configurations. While there is something inherently romantic about a multi-story home (grand staircases leading into the foyer, curling up in a bay window reading nook overlooking your gardens from the second story), when it comes time to sell, your two-story home might offer its own unique challenges—especially if it doesn’t have the primary bedroom on the first floor. Some buyers won’t even look at a home unless it has a bedroom on the first floor, even if it’s not the primary one.
While the staircase alone might be a problem for older buyers, even those with kids prefer one room on the ground floor for guests, in-laws, or a home office.
Pools are mainstays in some parts of the country, so if you live in a city where an in-ground pool is a must-have this would not apply. As always, however, the rules vary by location. If you live in a mild or cold climate, a swimming pool won’t aid in selling your home and in fact may detract from it. Maintenance represents work and worries and liability to those who don’t go looking for it. And during the months it remains covered, it’s not a great view in addition to taking up a huge chunk of otherwise usable space in your yard. The bottom line, says Wiebe, is that if you want a pool, great. But don’t expect it to add value when it comes time to sell. Accept that the only return on this feature could be fun, not money.
So. You fell in love with the place because someone went hog wild with a remodel. After all, who wouldn’t want a double oven, high-end granite countertops or an elaborately landscaped yard? But those high-end amenities might be overkill when it comes time to sell, since it is not a common theme in the neighborhood. Over-improvement can have its own consequences to that. For one, if these features are really high-end, you run the risk of pricing yourself out of the market.
An acre of land all your own? You must have hit the motherlode, right? But the backyard size can be a huge divider. “You might love your giant backyard with room for a garden, playhouse, and seating area, but some buyers might not want to deal with the upkeep. Just as many people want a modestly-sized, very private, or small yard as those who want their kids and dogs to roam the range. But a postage stamp yard has its downsides, too. If your yard is tiny and without any kind of barrier that offers seclusion, it can make your home difficult to sell.
Realtor, TBWS
All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.
NMLS: 38412
Northpointe Bank
8660 College Parkway, Suite 150, Fort Myers FL
Company NMLS: 447490
Cell: 239-470-6310
Email: cheidt@heidtfinancialllc.com
NMLS: 38412
Cell: 239-470-6310
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