But hold on, read this surprising fact before you get all excited: even with all these efforts, your property’s resale value might not actually increase. In fact, you could end up facing a loss from the sale of the MLS listing in Ajax.
Yes, certain factors in your neighbourhood can drag down your home’s value, no matter how much you spruce up the property. Want to know what these home-value killers are? Keep reading below to find out!
High Crime Rates
Let’s suppose you’re looking for a new place to live with your family or even alone. Would you settle down in an area which regularly keeps on popping in new headlines due to murders, burglaries, or vandalism? Definitely not! Like you, all the other homebuyers would want to put roots in a neighbourhood that is safe and secure.
Hence, if your MLS listing in Ajax is in a high-crime neighbourhood, you might not be able to get a great resale value. The low demand for properties in your area can take down the value of your home.
Poor Schools
Homebuyers with kids prioritize good schools when choosing a place to settle down. These buyers are even willing to pay more to secure a property in a top-school district. No wonder, why homes in areas with good schools sell faster and for higher prices.
This is why even if homebuyers don’t have kids or plan to have them down the line, they still consider the quality of nearby schools (to get higher resale value!). So, if your local schools are struggling or have a bad reputation, your home’s resale value could be lower than what you’re hoping for.
Lack of Amenities
Homebuyers look for an MLS listing in Ajax in a place where they can grab a quick coffee or get their groceries on the way to work. Because of this, if your neighbourhood doesn’t have many essential amenities nearby, your home might sit on the market longer. Once your listing becomes stale, it can get the bad name of being less desirable which may lead to lower offers.
Heavy Industrial Activity
Enjoying a peaceful Sunday morning, sipping coffee when suddenly a loud truck rumbles by or a machine starts up - is this something that you have to face at your home on a daily basis? If yes, this constant industry activity can make your neighbourhood less inviting and drive away buyers.
Apart from the constant noise, factories can emit pollutants, leading to a not-so-fresh atmosphere. Buyers with health concerns may take this into consideration and shy away from making a good offer on your MLS listing in Ajax.
Traffic Noise
A home is often referred to as a peaceful sanctuary, a place where you can unwind after a long, tiring day. But if your home is located near a busy road or intersection, that peace can feel like a distant dream for your potential buyers.
Traffic noise usually gives homebuyers the impression that the area is unsafe or hectic. They might worry about their children playing outside or even how their pets would handle the hustle and bustle. With all this stress about the traffic, potential buyers would fail to see the beauty and value of your home.
Limited Public Transportation
When people are exploring MLS listings in Ajax, they take a look at the public transportation situation in the area. They would usually prefer having the option of getting around easily to and from the area through public transport. Without any well-connected public transport links, buyers may feel like it’ll be harder (and more expensive) for them to commute, run errands, or explore the town.
Also, potential home buyers think long-term. If they see the area has no public transportation connections, they might worry about the home’s resale value down the road. After all, if it’s difficult to sell now (because of the lack of public transport), it could be just as hard or even harder in the future! So, if your area falls short in this factor, it might mean a lower resale value of your home.
Unkempt Properties
As you walk down your street, do you see a lot of houses with overgrown lawns, peeling paint, or broken fences? If yes, these eyesores will be noticed by the potential buyers of your home too as they drive through your area. Because of this, suddenly, your well-maintained MLS listing in Ajax won’t seem as valuable in comparison to those unkempt homes.
Unpleasant Landfills or Waste Facilities
No one, including the potential buyers of your home, would get excited about living near a pile of garbage. The sight, smell, and even the idea of being close to a landfill can make them think twice.
Plus, with landfills or waste facilities comes the concern about possible pollution or environmental hazards. All of these factors can make your home near landfills less attractive to buyers which often results in lower offers.
Lack of Community Engagement
Lastly, homebuyers are more open to the idea of living in a neighbourhood where people wave hello, chat over the fence, and organize block parties. It’s these little touches of community engagement that can make someone want to plant roots in a neighbourhood. If that’s missing, buyers might refrain from buying an MLS listing in this Ajax neighbourhood.
Even if someone is not looking forward to engaging and interacting with their new neighbours, they would still prefer a strong community bond. That’s because when there’s no sense of community, no one would actually care to maintain the local areas. For instance - things such as parks, public spaces, and community halls in the area might start to decline over time which could make living in that area not so great.
You Can Still Sell Your Home, Even If Your Neighbourhood Isn’t the Most Appealing
If something in your neighbourhood is lowering the appeal and resale value of your home, you can still take steps to sell your property successfully. First, do everything you can to boost the appeal of the MLS listing in Ajax. Also, while marketing the property to buyers, make sure to point out the best features in your home such as a spacious backyard or a newly renovated kitchen.
Secondly, when it comes to any negative factors in your location, whether it’s noise, traffic, or an industrial unit, tell it like it is to the buyer. Homebuyers will appreciate the honesty and this will help you build trust with them better. Lastly, work with an expert Realtor who understands the housing market and can price your home competitively. These experts can help set the right price considering the deal-breaking factor in your location.
So, home sellers, roll up your sleeves, embrace the challenge, and remember that with the right strategy and support, you can still attract buyers and sell your home successfully.