Whether you’re buying, selling, or just curious about the real estate market, it’s always good to know a few surprising facts. Here are some interesting tidbits that might change the way you think about homeownership, real estate investment, and your property’s value.
1. Homes with Walk-In Pantries Sell Faster!
Did you know that homes with a walk-in pantry can sell up to 20% faster than those without? Walk-in pantries are a sought-after feature, adding extra storage space and convenience to kitchens. If you’re considering selling, a pantry upgrade could give you the competitive edge!
2. The Average Homeowner Spends 4–6 Hours a Week on Maintenance
Homeownership requires time and effort! On average, homeowners spend 4 to 6 hours per week on upkeep, from mowing the lawn to fixing small repairs. Keep this in mind when budgeting for your time (and energy) as a homeowner.
3. The Best Month to List Your Home?
May is the optimal month to list your home! Studies show that homes listed in May sell faster and for higher prices than those listed in other months. Spring buyers are eager to settle in before summer, making it the perfect time to put your home on the market.
4. The “One Percent Rule” in Real Estate Investment
Real estate investors often use the One Percent Rule to determine whether a property is a good investment. This rule states that the monthly rent income should be at least 1% of the property’s purchase price. For example, if a property costs $200,000, you should aim for at least $2,000 in monthly rent to make it a worthwhile investment.
5. Curb Appeal Adds Value
Did you know that good curb appeal can increase your home’s value by up to 7%? Simple updates like a fresh coat of paint, well-maintained landscaping, or a welcoming front door can make a huge difference when it comes to first impressions—and final sale prices!
6. Your Home’s Age Can Affect Its Value
Homes that are 10-20 years old often see the highest appreciation rates compared to newer or much older homes. They tend to be in established neighborhoods with mature landscaping, which adds to their charm. So if your home falls within this age range, you might be in a sweet spot!
7. Smart Home Features Can Increase Your Home’s Value
Smart home features like thermostats, lighting, and security systems can increase a home’s value by up to 5%. Buyers are increasingly looking for homes with technology that can help them save energy, enhance security, and make everyday life more convenient.
8. A Fresh Coat of Paint Can Boost Your Home’s Value
If you’re planning to sell, consider painting your home before listing it. Homes with a freshly painted exterior can see an increase in value of up to $5,000 or more. Neutral colors like beige or gray are particularly appealing to potential buyers and help create a clean, modern look.
9. Homes Near Good Schools Sell for More
Homes that are located within highly rated school districts typically sell for 5-20% more than similar homes in less desirable districts. This is especially important for buyers with children or those planning to start a family.
10. The Impact of Natural Light on Home Value
Homes with plenty of natural light not only feel more inviting, but they can also sell for up to $20,000 more than homes with limited light. If you’re looking to boost your home’s appeal, consider adding larger windows or removing obstructions like heavy curtains to let in more daylight.