Some homeowners believe that the value of their home will automatically increase if they have a unique feature. They assume that they can ask for more money for their home than other homes in the area just because they have some of these features. However, a Waltham Real Estate Agent is here to tell you that’s not always the case. While yes, sometimes these features can increase the value of your home but sometimes they might decrease the value of your home. Here’s some insight on what kind of features we’re referring to. 

 

Swimming Pools 

Increase Value

For beautiful luxury homes that have a big backyard, swimming pools can add value. If your pool includes extras like a hot tub, waterfall, is a unique shape, and maybe even features a slide or diving board it can definitely be valuable and allow you to increase your asking price. Waltham Realtors say that in order for a pool to add value to your home, it must be in great condition.

Decrease Value 

Swimming pools can also decrease the value of your home and here’s why. Swimming pools can take up a lot of backyard space and are often expensive and time-consuming to maintain. If your pool needs a lot of repairs and fixing, your home's value can be negatively affected. Unless the buyer is willing to put in all the work, they are likely not going to want to deal with the maintenance and cost that having a pool would come with. 

 

In-Law Apartments 

Increase Value 

An in-law apartment that is updated and well maintained can be very attractive to buyers who are looking for just that. Waltham Realtors say that if you have a beautiful and cohesive in-law apartment you can certainly raise your asking price for people who find that a must-have home feature. 

Decrease Value 

Waltham Real Estate Agents also mention that in-law apartments aren’t always the most popular. Therefore, some people aren’t willing to pay more for a home when that feature is not something they need. 
 

Garages/Sheds

Increase Value 

Garages and sheds that are in good condition can usually add value to a home, especially if they are attached to the house. A lot of people find value in garages and sheds because they add extra storage space to a home while also protecting cars from harsh weather conditions. 

Decrease Value 

However, Waltham Realtors mention that functionality and condition are two big factors when it comes to determining whether the garage or shed could take away value from the home. If it is too big for the yard, looks out of place, or is in need of great repair, buyers might be turned off and not want to deal with them. 

 

Contact A Waltham Realtor

If you’re looking to sell your home in Waltham, MA, and think that you have some features that could add value to your home, consult with a Waltham Real Estate Agent! We will help you determine the perfect asking price for your home based on the features your home offers. Give Waltham Realtor, Hans Brings, a call today at 617-968-0022 or fill out a contact form! 

 

Once you finally find the home you want, the process isn’t over quite yet. Next, you need to figure out how much you should offer on the house. While a Waltham Real Estate Agent can help give you insight, it’s also a good idea to do some research on your own. The most important part of your offer is the price and sometimes this can be the hardest part of the home buying process. Below are 3 questions to ask yourself (and your Waltham Realtor) to guide you in this process. 
 

1. What have similar homes sold for? 

Waltham Real Estate Agents suggest that the best place to start is to research similar homes in the area and see what they have recently sold for. Gather a list of recent, similar, and nearby home sales. When comparing these homes to the one you want to put an offer on consider the following: 
 

• Location Construction type 
• How many bedrooms and bathrooms
• Square footage
• Condition (new, updated, or needs to be updated)

 

All of this information can help you begin to put together a range of possible prices that you should offer. Your Waltham Realtor will be able to help you access all of this information. 
 

2. How long has the home been on the market?

When figuring out your offer price, a factor you should consider is how long the home has been on the market. Waltham Real Estate Agents say the length of time a home has been on the market sometimes affects how much it's worth and will help give you insight on what to offer.

The longer a house has been on the market, the lower your offer can be. On the contrary, if a home has just been put on the market your offer price should usually be a little higher. If you offer too little on a newly listed home you are going to risk the seller turning down your offer for another one. However, if a home has been on the market for a while the seller will likely be more open for a lower price or some negotiation.

Keep in mind that some sellers are not in a rush, even if their home has been on the market for some time. Therefore, offering a price way below the asking price may not work for all homes. If you are interested in offering a price below the asking price, make sure to consult with your Waltham Real Estate Agent first to see how far under the price you should go.

3. What is the condition of the home?

This is likely obvious, but the condition of the home is an important factor in how much you should offer. A home that does not need much fixing will typically get higher offers than a home that needs work. Homes that need some work can be great opportunities to save money, however, make sure to consider how much work it needs and how much work you’re willing to put into it. Pay attention to these factors when evaluating a home:

• A damaged roof
• Cracks in the foundation
• Rusted plumbing fixtures
• Water damage on floors or walls
• Uneven floors 
   

Contact A Waltham Realtor

 

At the end of the day, the ultimate goal is to come up with an offer that will win over the seller. Figuring out the right price to offer can take some time but it doesn’t need to be too difficult. With the help of a Waltham Real Estate Agent you’ll be able to figure out the perfect price to offer that will give you the best chance at getting your dream home. Contact Waltham Realtor, Hans Brings, today to get started in your home buying process! 617-968-0022