Trying to sell a house in this economy at all is difficult, but doing so in a sketchy neighborhood is even harder. When recent crime trends and foreclosures in your neighborhood begin to appear, buyer interest and property value of your home can fold in half within a matter of months. If that estimate seems extreme, consider the fact that one study by the National Bureau of Economic Research finds that having a registered sex offender move within one tenth of a mile towards your property can drop your home’s value by 4 percent alone, which averages at around $5,500.
With so much of your property’s value out of your control and crime data readily available with a standard google search, attempting to cloak crime in your neighborhood is a practice of the past. Simply hoping that homebuyers don’t do their research before purchasing is no longer a feasible gambit for sellers who are truly interested in getting the best value in their sale. However, there are ways to make a property seem safer. When your property listing looks like an exception to the rule when it comes to local crime, it can be far easier to make a sale.
Prepare your house with security features
If you live in a city with particularly notorious crime problems, selling safety isn’t exactly easy to do. This makes ADT in Chicago, Illinois one of the most popular choices for sellers when outfitting a home with a ready-to-go system. Even if you invest in only the wiring installation, taking the steps to lay the groundwork for a safer habitat can convince buyers that your home is the safest on the block.
Also consider how you can improve your home’s curb appeal with adequate fencing. White picket fences might be charming, but they do little to fend off home invasion. However, cheaper alternatives such as chain link and wire fencing can err too far on the side of usefulness without considering aesthetic appeal. One of the best choices for these instances are fences of weather-resistant wood or imitation wood in the form of vinyl. For the best security, these should be of a close-board construction and rise up to at least 5 feet (although make sure to stick within local zoning codes.)
Finally, you can boost the security of your home from the curb by providing sufficient lighting. This is especially important if you anticipate showing off your property in the afternoon or evening. It can leave a great lasting impression with potential buyers if you keep lights on the property as soon as it becomes dim outside. Well-lit properties conveys safety, warmth, and transparency – even if you’re living in a neighborhood that is less than ideal. To really impress, try installing your porch lighting with a motion sensor to light up to greet your buyers as they arrive.
While selling in a bad neighborhood is always a hard sell, it doesn’t necessarily have to be impossible. In addition to creating an inviting environment, also convey how safe your property is by following these steps. What else would you recommend for sellers dealing in sketchy neighborhoods in order to more successfully assure buyers of the safety of their properties?
