The Wellesley, MA real estate market was one of six Boston-area communities that experienced increased home values this year. The other five communities are Arlington, Cohasset, Needham, Winchester and Weston.
In most areas, home values have decreased drastically, in some cases as much as 39 percent, while property taxes have continued to increase. This situation puts homeowners in a difficult position. People in these areas are often unable to sell their homes for what they are worth, making their largest asset less valuable than it once was.
However, homeowners in Wellesley are experiencing an increase in their home values. Contrary to popular belief, home values aren't based solely on the value of similar properties nearby. Your home's value is also based on sales data from the previous year.
Taking Advantage of Increased Home Values
An increase in home values is good news for Wellesley owners who are considering selling their home. If you decide to take advantage of the market now, there are some things you can do to increase your home's value even more.
Have Your Home Inspected
Instead of discovering problems with your home when a buyer hires an inspector, risking scaring the buyer off, hire your own inspector. Find out if your home has any problems and take care of them before listing your home.
Do Some DIY Repairs
You can increase your home's value without adding a lot to your out-of-pocket expenses by redoing areas of your home instead of replacing them entirely. Painting walls, refinishing counters and clearly defining rooms and spaces are all relatively inexpensive ways to add value to your home's existing features.
Touch Up Your Landscaping
Trimming shrubs, adding mulch and arranging flowerpots can go a long way in making your home more attractive from the outside. These elements also make your home feel more welcoming and make it easier for buyers to envision living there.
While home values are up in Wellesley you can make some simple changes to your home that will add even more value, putting yourself in the perfect position to reap the benefits of the market.
In a time when home values are rapidly declining in many areas, the fact that homes in Wellesley are experiencing increased values is excellent news for sellers. If you are interested in listing your Wellesley home for sale, contact Christine Norcross at 781-929-4994.