| In today's mobile society, most people buy and sell | | | | Unusual Style |
| homes many times over their lifetime. The marketability | | | | 10. Similar Features. The absence of typical amenities |
| and ease with which a home is likely to sell is an | | | | may pose a problem when selling a home or condo. |
| important consideration when purchasing real estate. | | | | For example, when all the houses in a neighborhood |
| This article briefly reviews some common structural | | | | have garages, buyers may overlook homes that do |
| and maintenance features of a home or condo that | | | | not offer this feature. |
| could adversely impact the owner's ability to sell the | | | | 11. Unusual Architectural Design. Homes that have a |
| home. | | | | popular local style will sell faster and attract more |
| Problems with the Lot or Site | | | | buyers than homes that do not fit the community's |
| 1. Limited Or No Yard Space. Buyers may avoid | | | | aesthetics. |
| homes or condos that have limited or no yard space, | | | | Environmental Concerns |
| especially if comparable homes in the community have | | | | 12. Environmental Factors. Properties located near |
| this feature. | | | | facilities that have hazardous or toxic substances may |
| 2. Unappealing Views. Homes or condos with no views | | | | be less desirable to prospective home buyers. |
| or unappealing views are less desirable than properties | | | | Home Improvement Problems |
| with appealing views. | | | | 13. Unnecessary Improvements. Homes or condos with |
| 3. Flag Lots. Flag lots do not meet minimum frontage | | | | improvements that do not impact the property's |
| requirements, and access to the street is limited and | | | | market value may actually diminish the marketability of |
| often through a private right-of-way or driveway. | | | | a property. Owners should carefully consider how a |
| Some buyers may find flag lots undesirable. | | | | proposed improvement would impact the future resale |
| 4. High-Tension Electrical Lines. The presence of | | | | potential of the property. |
| high-tension electrical lines near a home or condo may | | | | Maintenance or Repair Problems |
| dissuade some buyers from purchasing a property. | | | | 14. Disrepair and Maintenance. Home or condos that |
| 5. Street Problems. Buyers may avoid homes or | | | | are lacking proper maintenance may be less desirable |
| condos that have very steep driveways or are | | | | than homes in pristine condition. However, this could |
| situated on busy or noisy streets. | | | | work the other way also as some buyers seek out |
| 6. Water Drainage. Properties situated on lots that may | | | | "fixer uppers" and are willing to pay a reduced price |
| flood or lack proper drainage are likely to have resale | | | | for these types of properties. Examples of |
| problems. | | | | maintenance problems include a leaky roof, pealing |
| Neighborhood Problems | | | | paint, worn out or dirty carpet or flooring, structural |
| 7. Unsafe Neighborhoods. Buyers may avoid homes | | | | defects, etc. |
| and condos in communities that they perceive as | | | | Insurance Claim Problems |
| unsafe. | | | | 15. Insurance Claims Against a Property. Homes or |
| Market Concerns | | | | condos that have several insurance claims may be |
| 8. Limited Population for Re-sale. Buyers may avoid | | | | less appealing to prospective buyers. For example, |
| homes or condos in communities that will not appeal to | | | | some homebuyers may perceive a property with a |
| a broad range of prospective buyers in the future. For | | | | repeated history of flooding or fires as undesirable. |
| example, some vacation communities or rural towns | | | | Closing Thoughts |
| only appeal to a limited segment of buyers. Therefore, | | | | There are many factors that impact a home's |
| an owner's ability to re-sell the property in the future | | | | marketability. Since most home owners buy and sell |
| may also be limited. | | | | properties many times over a lifetime, a property's |
| 9. No Other Similar Properties Nearby. The market | | | | resale potential should be an important consideration |
| price of most residential properties is set by the sale | | | | when purchasing a home or condo. Those interested in |
| value of similar nearby properties. Homes that do not | | | | selling a home should review the above comments |
| have comparable sales could face a potential resale | | | | and determine if there are areas that may be |
| problem. | | | | addressed to improve the home's marketability. |