In looking for the value of a home, location, crime and recent neighborhood sales contribute to value. While all these things are indeed important, there are other factors to keep in mind as you see the home(s).
Contributing Factors To The Value Of A Home
1) Frontage
Does the home parallel the street or does it go deep into the lot? Frontage is the amount of the home that faces the street. Generally speaking the more of a home that faces the street, the more attractive it will be to buyers. Thus, when the time comes to selling the home, the more of it faces the street, the more you will get buyers (and offers).
2) View
A 360 degree hilltop view undoubtedly adds to the value of a home, yet even a home at sea level has a view factor. Look for how much of the view can be seen from the backyard without something getting in the way. The greater the sweep of the view, the better.
3) Exposure
Related to the view is how the home is situated relative to its immediate neighbors. If the neighboring homes can easily see into the backyard, this will significantly detract from the desirability and value of a home. Being on a rise or having foliage or other barriers to exposure is a plus.
4) Privacy
All things being equal, how close the neighboring homes are to the home in question will also determine its value. Few people care to open their window to reach out and borrow a cup of sugar from the neighbor. However, there are exceptions to everything. People wanting a short walk to the beach will put up with hearing “Bless you” from a neighbor when they sneeze.
5) Topography
Homes built on flat land will often be preferable, though even homes with a [gently] sloping backyard can be attractive. Homes where the slope is downward from the home are preferable to homes at the base of a slope.
All of these factors go into the home’s appraisal so keep them in mind as you look at homes. If you need help with any aspect of your search from financing/budgeting to finding and securing the home, call/text me any time at 760 622 5087. I can show you how to afford and get more home.
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