It might go without saying that a junk-cluttered yard does a home seller no favors—in fact, six in 10 real estate agents estimate that an unkempt front yard decreases a property’s value by 20% or more. But what constitutes junk? Trash or discarded building materials? Sure. What about a boat, RV, or children’s toys? What if a neighbor is the clutter-collecting culprit—could the adjacent property take a home-value hit?
A team of researchers for StorageUnits.com surveyed some 500 licensed agents to determine how clutter in and around a seller’s home, as well as the surrounding neighborhood, impacts a property’s asking price. Almost every survey respondent agreed that trash, junk, or excessive clutter, either outside or inside a seller’s home, decreases a home’s market value. About half of them estimated that said disarray would result in a “significant” property value decrease. It would have a “moderate” impact, according to 36% of respondents, and a “slight” impact, said 14%, while only 1% said it wouldn’t matter.
Three of four responding real estate professionals said clutter-free homes in clutter-free neighborhoods sell at least twice as fast.
That means sellers in a hurry to close should concern themselves not only with their own property but also with their neighbors’. Some 32% of agents questioned believe a neighbor’s yard clutter can decrease a nearby property’s value by 5% to 10%. Another 28% estimated a 15% to 25% decrease.
Scott Beloian, a California broker of 25 years and owner of Westcoe Realtors Inc. says he has seen how clutter can reduce a home’s value by 10% or more as prospective buyers “struggle to see past the mess” and make negative assumptions about the home’s general maintenance.
“Outside, yards filled with trash, junk cars, and overgrown landscaping are instant turn-offs for buyers,” Beloian said. “Messy neighboring yards can cut a home’s value by 5% or more,” he guessed, “especially if in sight of the property.”
Aside from the obvious trash and waste, respondents mentioned that too many cars (cited by more that 40% of respondents), indoor furniture outside (40+%), trash cans (30+%), landscaping tools (20%), kids toys (20%), RVs (15%), boats (10+%), and even a car in the driveway, as opposed to parked in the garage, could cause a decrease in home values.
Broker Beloian says the most valuable thing a seller can do is declutter and clean their property, inside and out, which allows buyers to see the home’s potential and frequently means a faster sale at a higher price.
“I encourage sellers to get neighbors to do the same, as it benefits the whole community,” he added.
Indoor clutter also is damaging to a seller’s market value, most real estate pros agree, with 42% of respondents anticipating it could cause a “significant” decrease. Another 40% said indoor clutter has a “moderate impact,” while only 15% considered the impact “slight.” (Just 3% said it doesn’t matter).
President and CEO of Prestige Home Buyers Warner Quiroga says indoor clutter is even worse than a messy facade because it makes the house feel cramped. “This can slash your home’s value by up to 30%,” he said.
Home sellers incapable of maintaining a whole clutter-free house should focus on the kitchen, seen as the most crucial area to declutter, followed by the living room and bedrooms, based on the survey.
Most real estate agents surveyed suggested donating unused items (said 81%). They also advised renting a storage unit (67%), or holding a garage sale (58%). Temporary portable storage containers and professional organizers were also recommended by a respective 46% and 48% of respondents. As for storing away boats, RVs and other large items, 34% of respondents would “definitely” recommend an off-property storage unit, while 42% said they would “probably” suggest such an approach.
To dive deeper into agents’ ideas on decluttering for faster sales and higher asking prices, see the study at storageunits.com.
The post Survey: Cluttered Yards and Neighbors’ Junk Can Weigh Down Home Values first appeared on The MortgagePoint.
