Recent home sales in your neighborhood are a good predictor of the price your home might fetch, but your neighbors — good and bad — are also likely to play a major role. Here are four examples of how the neighbors and the area surrounding your neighborhood may help or hurt your home’s value.
Neatness counts. When prospective buyers drive through your neighborhood and see well-maintained homes with freshly cut, clutter-free yards, it creates a favorable impression. On the other hand, peeling paint, leaning fences, yard clutter and overgrown landscapes are unattractive and can affect your sales prospects.
A friendly, sociable neighborhood. If you live in a neighborhood where people know each other, have a neighborhood Facebook page and hold social gatherings, let prospective buyers know. Mention it in your home’s flyer and online ads.
Nearby features and attractions. If you have parks, play areas, schools and access to local transportation near your home, be sure to highlight those features in flyers and advertisements. Present them as selling features. Conversely, if your home is near a landfill, a noisy business district or train tracks, be prepared to talk to your real estate agent about making concessions or offering creative solutions such as planting tall shrubs or trees as sound barriers.
Homeowners Associations. If you live in a neighborhood governed by a homeowners’ group, use it as a selling feature. Many buyers view the existence of an association as an insurance policy against deteriorating homes and unkempt yards.