Location, location, location. There isn’t anything else you need to think about when buying a home, right? Oh, how very wrong you are…
Many people venture into the home-buying process with the notion that the home they purchase will be somewhere they live for quite a while, if not forever. However, somewhere down the line, they may realize the home is a little too far from their job or the noise from the nearby airport is a little more than they can handle. So, it’s time to move again.
This is the exact reason why it’s important to not only buy a home that fits you, but also a home that can easily fit someone else. With that in mind, here are some little known traits of homes that you can’t wait to buy, but are also easier to sell if you need to!
As silly as it may sound, living on a street with a chic name can increase the value of a home. According to Zillow.com CEO, Spencer Rascoff, if your home is on a street named “Lake” or “Sunset” it’s likely that it could sell for up to 16% higher than other similar homes. In addition, road names that ended with the word “Street” had the lowest home value in 2014, where roads ending with the word “Way” garnered the highest.
Forget about 666; 777 is the issue that plagues homeowners when it’s time to sell. Whether the home number is 777, or 17772, there is nearly a 2% drop in the typical selling price. On the flip side though, if you find a home that is ONLY numbered with a 7 (ex. 7 West Sunset Way) then you’re looking at an almost 2% increase in the selling price.
Believe it or not, there are still some homes out there that are not within walking distance of a Starbucks. These are the homes that sell for less. Identical homes can appreciate nearly 30% more if they are in close proximity to a Starbucks location.
Many homes that were built in the last 5 years have some type of smart technology. Whether it’s a security system that you can control from your phone or a refrigerator with a tablet built in so you can easily find a new dinner recipe every night, homes that have technology aimed at making life simpler are much more valuable.
Nearly 57% of homebuyers will not settle for a home that doesn’t have a laundry area. Add to the value of your home by investing in a larger space to comfortably house a washer and drying, a table for folding, space to iron and racks to air-dry delicates. This all adds to buyer convenience and more ‘cha-ching’ for the seller!
While the hope is that when you find your dream home, you’ll never have to move again, it’s always good to look at a home as both an emotional and a financial investment. Whether your new home is forever, or doesn’t pan out like you hoped, you’ll win either way!
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