How Do Neighbors Affect Your Montrose CO Home Value?

How Do Neighbors Affect Your Home’s Value?

Montrose-coWhen you’re working hard to get your house on the Montrose CO real estate market, you’re well aware of the importance of curb appeal. Making your house look its best from the street by tidying up the yard and making sure that everything is in good repair is a no-brainer. And if you’re a buyer, you also know that what you see on that first glance makes a crucial impression that determines whether you’ll call for a showing or not.

Curb appeal isn’t just about your own house, though. It also takes into account the whole neighborhood, and your neighbors can have a big effect on your property value because of this. After all, you can’t “unsee” the peeling paint or pile of junk next door — and you can’t control it, which makes neighbors a particularly sticky problem when it comes to a home’s value.

The Good

Some neighbors are wonderful, and they can help to sell your house just by being there. People who take good care of their property by tending their lawns and keeping things tidy make your whole neighborhood more desirable. If you count a great local school or nearby transit as your neighbors, you may enjoy a boost to your property value, as these are highly sought-after features for many buyers.

The Bad

On the other hand, bad neighbors can bring down your property value by 5 to 10 percent. Bad neighbors are ones who don’t keep up their properties or create an unpleasant living situation with loud music, parties or even crime. If you’re stuck with a bad neighbor, you might be able to get some help by reporting illegal activity — or at the very least, sending a note asking them to clean up.

The Ugly

Some neighbors go well beyond just being messy or uncouth. If you live near several foreclosed or abandoned homes, or something undesirable like a landfill or power plant, your property values will be affected. Having a registered sex offender in the neighborhood can also bring down your home’s value. Unfortunately, there’s not much to be done about these neighbors.

If you’re interested in trying to improve your home’s value in Montrose CO, start by tending to your landscaping and the exterior of your house. You can also consider working with neighbors to clean up litter, host a block party and establish a play area that will attract future buyers to your street to join something that’s clearly very special.

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Diana Atha: 970-417-9374

Copyright 2017-2021 Keller Williams Colorado West Realty, LLC. If you have a brokerage relationship with another agency, this is not intended as a solicitation. Equal opportunity housing provider. Each office is independently owned and operated. For sale by owner data not included in research findings. Sales data reflects sales from homes not limited to the Atha Team LLC. This information was gathered from Keller Williams, The National Association of Realtor, CoreLogic data analysis firm, Montrose Association of Realtors, and the Mortgage Brokers Association. This data is considered accurate, but is not guaranteed. Copyright Atha Team LLC 2017-2021. All Rights Reserved.

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