What Affects Property Values

Updating your home is part of the home ownership process for most people. For some, it's making the home specific to their likes and taste. For others, they may be thinking of remodeling because they are thinking of selling. If you are thinking of selling, it's a good idea to make updates to your home so it doesn't look dated. When I am out showing homes, a dated looking home is often the reason a buyer will tell me they are not interested.

Whether you're remodeling for your own use or because you're putting your home on the market, it is a smart move to make sure that change will improve your property value. Some of the features that increase property values are obvious-like a remodeled bathroom, a modern kitchen, or a sought-after neighborhood. You also don't want to make an over improvement to the property because it may discourage buyers and make your property difficult to appraise.

Here are a few features and circumstances you may not have realized can affect property values.

• The neighbors: Not every neighborhood or community has an HOA that can keep the neighbors from going overboard with decorations or neglecting to care for their home. Homes adjacent to crazy neighbors can potentially be undervalued.
• Trendy groceries and coffee: Recent statistics suggest that if your home is a short walk from popular grocery stores like Whole Foods or coffee chains like Starbucks, it can actually appreciate faster than the national average.
• Mature trees: A big beautiful tree in the front yard is enviable, and it's not something that can be easily added to any home. Homes with mature trees tend to get a little boost in value.
• Parking: This isn't too much of an issue if you live in the suburbs or in a rural area, but residents in dense cities can have real problems with parking, and homeowners might need to rent a spot just to guarantee a place to park each night. That's why having guaranteed parking in urban areas will raise property values.
• The front entrance: First impressions matter to buyers-many will cross a home off their list within 10 seconds of stepping through the front door. An appealing front door, a friendly entryway, and a functioning doorbell are all necessities for getting top dollar.

So you may be asking yourself "What improvements can I do to add value to my  home?"  So glad you asked!

• Kitchens/Baths: Nearly everyone knows that updated kitchens and baths are on the top of the list for home improvements. If they are done right they will almost pay for themselves in bringing back top dollar for your home. Try to use granite for countertops and stainless steel appliances if you can afford it as these items are still very popular.
• Paint: Try to use neutral paint colors throughout the house. I love deep red in dining rooms but if I'm trying to sell my house, I would paint the walls. My current favorite neutral color is Benjamin Moore Edgecomb Gray. Also, make sure you test the color in different lights. I also like Realist Beige but it turns pinkish in some lights.
• Trims: White on baseboards and doors are still very popular. It looks clean and contrasts well with neutral colors. Also updating the doors to paneled doors and baseboards to a wider size will make a world of difference in making your home look updated for a small cost.
• Fixtures: Update lighting fixtures, door knobs, and faucets. Although I'm starting to see some gold fixtures in magazines again, most people still prefer oiled bronze and brushed nickel finishes. 
• Curb appeal: Don't forget to add a little color in the form of plants to the front yard. Curb appeal and first impressions really do make the difference.