Most homebuyers fall in love with the glamour of the home’s elevation first. Potential owners picture their family, business associates, even their boss pulling up to the home and being impressed. The homebuyers think of their kid’s prom pictures and Easter egg hunts snapshots in front of the home.
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Most homebuyers fall in love with the glamour of the home’s elevation first. Potential owners picture their family, business associates, even their boss pulling up to the home and being impressed. The homebuyers think of their kid’s prom pictures and Easter egg hunts snapshots in front of the home.
A home’s elevation is important and does add to the value of a home. But what if I told you that the back of the home may be more important?
What is behind your home can add or subtract value. Let’s analyze landmarks that can greatly increase and sometimes decrease a home’s value.
Landmarks that can generally increase your home’s value include:
Landmarks that can generally decrease your home’s value include:
Other factors can be classified as wildcards. These include:
Every lot has its pluses and minuses based on what’s behind it and of course there are exceptions. Some people hate waterfront/golf course lots because people can see in your back yard. Some people like backing to a commercial lot. Still, as stated earlier, these are generalizations.
Most people will have a good old-fashioned fence and a real neighbor. I recommend meeting them in advance of closing. Most importantly, before you close, consider what is behind you.
The prom pics in the front yard are nice, but few things raise or decrease value more that what’s behind you.
Timothy Sojka is the broker of the See TIM Sell Team at Keller Williams. His team has sold over 2,000 homes. Tim is also the author of the Amazon #1 political thrillers Payback Jack, Politikill and the upcoming addiction thriller, 39.