The recent for sale sign in your neighbor’s yard matters more than you think. When it comes to putting your house on the market, it’s not always as straightforward as you think. Many sellers are left scratching their heads, wondering why one house in the same area sold for more or less.
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“When two homes look identical from the outside, it absolutely drives people wild when one sells for way more,” Yawar Charlie, director of estates, Christie’s International Real Estate of Southern California. He explained, “As someone who tours dozens of properties a week, I can promise you this: No two homes are ever truly twins; one is always the Beyoncé, and one is always the backup dancer.”
Here are a few reasons why your home might be the star of the block.
Fresh Paint Stands Out
If a house is newly painted inside and out, it’s likely to sell faster than the neighbor’s.
“Fresh paint is a huge thing because many people don’t have a vision and can’t see past the cosmetics of an older house,” said Lauren Hurwitz, a licensed realtor with Compass in Westchester County, New York, and owner and CEO of MediaHouse.
Buyers can look past a home’s age if it’s well-maintained.
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A Sloped Backyard Isn’t Ideal
While the house itself is important, so is the land. A sloped backyard isn’t what excites most buyers, because it limits their options and often requires more maintenance costs for retaining walls, special drainage, terracing or erosion control.
“Buyers prefer a flat space for entertaining and recreational use,” Hurwitz said.
The Permitted Glow-Up
If renovations are done, permitted work is key to upping the sale price. Buyers today want the beauty and the paperwork.
“When a home has fully permitted electrical, plumbing, additions, or major upgrades, buyers breathe easier and write stronger offers,” Charlie explained. “Meanwhile, your neighbor’s unpermitted bathroom remodel done by a handy friend becomes a negotiation headache — you get the premium because you did it right.”
Micro Location Magic
Just a few feet can make a big difference in the asking price.
“Maybe your home sits higher, gets better natural light, or has a quieter backyard that does not back up to a power pole or the world’s loudest dog,” Charlie said. “Or maybe your neighbor’s view looks straight into another house while yours catches a sliver of skyline or sunset.”
Buyers will pay more for that magic, even if they cannot explain why they just feel better in your home.
School District Flex
A house located in a good school district is gold — even for buyers without kids because it keeps up their resale value.
“If your home falls on the right side of that invisible boundary line, congratulations, you just earned an automatic price bump,” Charlie said. “Your neighbor may literally be across the street, but technically in a less desirable zone and detail can change the sale price faster than you can say multiple offers.”
Curb Appeal That Sells the Fantasy
Buyers are visual first and practical second, so if your house is nicely landscaped, has warm lighting and a welcoming entryway, it’s easier to sell at a higher price.
“If your neighbor’s yard looks like it is still recovering from 2020, well, you win,” Charlie said. “Curb appeal is your home’s first impression, and in luxury real estate, the first impression is everything,” he explained.
A Floor Plan That Actually Makes Sense
Two homes can share the same square footage yet live completely differently.
According to Charlie, “If your home has better flow, more natural light, smarter room placement, or an open layout that feels modern instead of chopped up, buyers instantly notice.” He said, “A great floor plan can add emotional value, and emotional value translates directly into real dollars.”
Houses next to each other might have a lot in common and share a floor plan, but how they’re maintained and cared for are usually not equal.
“That is why one sells for average and one quietly becomes the neighborhood record breaker,” Charlie concluded.
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This article originally appeared on GOBankingRates.com: What Your Neighbor’s House Just Sold for (And Why Yours Could Be Worth More)
