Having good neighbors is a major concern for most buyers in Milwaukee. Real estate experts claim that neighborhood affects 10% of the property value. A bad area can significantly reduce housing prices and make it an uphill task for the seller to find a potential buyer. However, despite bad neighbors, cash home buyers in Milwaukee will buy your home for a fair price.
If you’re wondering how your neighbors will impact your property value, this article is a must-read for you. Here are the reasons how a bad neighborhood can bring down the value of your home.
Homes in Foreclosure
When a potential buyer visits your property, chances are high that they will look at the neighboring properties. Foreclosed homes are often abandoned and reflect poorly on the area. These properties can turn off the buyer or reduce your home’s value by up to10%. Having a house in this type of neighborhood can threaten your profit from the home sale.
You can’t avoid this situation, but you can find a better solution by selling your home to a cash home buyer in Milwaukee. They can give a fair cash offer for your home and buy from you within a week.
Moving into a neighborhood with perfectly manicured lawns and well-painted houses is a dream for many buyers. However, if your neighbors’ houses are in poor shape, it can affect your home sale significantly. Overgrown lawns, untidy yards, broken windows, graffiti, signs of hoarding, visible trash, and abandoned cars may take away from a buyer’s interest in your property.
Most buyers don’t want to live in a neighborhood that has a lot of noise pollution. Railway tracks, industrial areas, and busy junctions are negative factors in a home sale. Also, having a neighbor who uses power tools regularly or runs a business with loud equipment can turn off the buyer. Other disturbing noises include dogs barking perpetually and teens hanging around late at night.
A buyer may check if the area near your home has frequent criminal activities reported through various resources. For example, sex offenders or drug dealers living nearby can potentially bring down your property value.
If you are having a tough time selling your home because of any of the reasons mentioned above, a real estate investor may be the perfect solution. Call us and ask, “How can I sell my house fast in Milwaukee?” Cash home buyers like Metro Milwaukee Home Buyer offer excellent prices for properties in any condition in Milwaukee.