There are many obvious factors that come into play when pricing a home. However, let’s discuss two hidden factors that impact home values.
Two Hidden Factors That Impact Home Values
1. Backyard exposure to neighbors
Let’s face it – we all like our privacy and apparently that desire comes at a price. Research has shown that people not only like a backyard with a nice view, but that they also like a backyard that is not easily part of other people’s view.
Essentially, how easily is it for neighbors see into a backyard or home. The less exposure the better!
2. Length of Frontage
Everyone has heard the term “curb appeal,” but how many of you ever thought the actual amount of curb would increase the appeal?
Apparently when a home’s lot has more street frontage in feet than it’s neighboring home it gets valued higher.
Who knew, right?
The things in the back of our mind
These reason I call these two items “hidden” is they are not things we generally think of. In fact I feel like these are items that are kind of driven by our subconscious, things people want/value without even really realizing it.
But, hey – if it gives me an edge or advantage in understanding the potential value of a property than I will certainly put it to work!
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Be sure to use the property calculator so you can run the numbers and buy right!