10 reasons why homes on the SAME street can sell $50K apart

In my opinion as a full-time Realtor, here are 10 reasons why homes on the SAME STREET can sometimes sell for $50,000 more than their neighbors:

1. STAGING

A cluttered house—or one that isn't decorated using modern design—is a huge deterrent to buyers. Yes, it's easy to do things like rearrange furniture, but if the photos online make your house "feel" old, it prevents people from scheduling showings in the first place. I know, this isn't logical. But humans aren't logical, we're emotional! Proper staging alone can add tens of thousands of dollars of "value" to a house.

2. LANDSCAPING

It's all about the first impressions of curb appeal. If someone already "feels good" about a house before they even walk in, they're much more likely to make a premium offer.

3. CLEANLINESS

I can't stress this enough. Everything else about a house could be perfect… but if it feels dirty, it will hurt the sales price.

4. KITCHEN

No one wants to buy a house and then immediately start thinking of taking on huge projects. If they think the kitchen is a "gut job," or even requires minor improvements, they will offer much less. If they think they need to invest $10,000 to "modernize" the kitchen area, they'll probably offer $20,000 less for the home to compensate for the hassle. So, it makes sense to invest in a gorgeous kitchen BEFORE you list your home. It's an investment, not an expense.

5. BATHROOMS

Everything I just said about the kitchen also applies to the bathrooms.

6. FLOORING

This is a big one. Quality hard surface flooring is a huge upgrade over a house with aging carpet. This alone can change the sales price of a home by tens of thousands of dollars. People "get used to" the home they live in and sometimes forget things like this from a buyer's perspective.

7. LIGHTING

Updated fixtures can completely change the feel of a home. Again, this is one of those examples where it's purely emotional (not logical). Spending a few hundred dollars on premium, modern light fixtures can raise the perceived value of a home by thousands of dollars. It's all about how it makes the home "feel."

8. FRESH PAINT

Makes the home feel new again!

9. AGE

This is something many homeowners don't ever consider. Another house on your same street could sell for $50,000 more simply if it's newer. The square footage could be the same, but a house built in the last ten years is objectively worth more than a house that's already 60 years old. Using calculations like "cost per square foot" is only relevant when we're comparing apples to apples, and the age of the house is an important variable.

10. LOT SIZE/YARD FEATURES

It doesn't seem like much, but a quarter-acre lot feels substantially bigger than a 0.15-acre lot. And a full acre feels substantially larger than a half acre, etc. Many people compare houses with completely different lot sizes, not realizing that the size of the yard is a HUGE determinant of the value. The structure of a home can change, but the land is forever. This also goes for "features" like mature trees, etc.

If you have questions about real estate here in Yorktown/Williamsburg, give me a call or send me a text. My personal cell is (757) 869-6134.