One of the most common questions homeowners have before listing their Staten Island home for sale relates to the selling price. Understanding the value of the home is not just comparing the square footage of the space with other homes that have recently sold in the area. While there are many factors that will play a part in a selling price, there is a reason why listing descriptions say "location, location, location." The location of your home for sale can bring it home for buyers and here is why:
The properties that are located next to the home for sale are critical to the property value. For example, a home that is located next to Westerleigh Park or another beautifully maintained home may have more appeal than a home located next to a industrial buildings. Even with homes that are located just a block or two apart, this difference in adjacent properties can have a dramatic impact on properties values.
There are some advantages to being in an area with heavy vehicular or pedestrian traffic, such as if you live in an urban area and are searching for a property that offers this lifestyle. When a home is located in heavily trafficked areas in a suburban where a quieter way of living is desired, these can be drawbacks that impact the selling price. If one home is located on a busy street corner and another similar home is located a few blocks away removed from traffic, the home with a more desirable location will typically have a higher selling price. This isn't to trash busy streets though, because a Staten Island home that is close to say Forest Avenue or Victory Blvd is still desirable.
When a home is located in an unsafe area or an area that is riddled with crime, safety concerns can lower property values. Many home buyers will review crime statistics about a location before making a buying decision. Properties are ultimately only worth what someone will pay for them, and buyers may overwhelming opt to purchase homes in safer locations unless the sales price is lowered. Your real estate agent will recommend you to the local precinct for crime reports in the neighborhood that you are interested in.
Desirability is often directly related to property location, and homes in more desirable locations will therefore have a higher selling price than those in an undesirable location. For those who are thinking about selling a property soon and who want to learn more about its value, a consultation with one of our skilled real estate professional can provide a homeowner with helpful information.