Films about creaking homes with mysterious pasts are fun to watch on screen, but what about when it becomes a reality in a home you are thinking about buying? How does that make you feel about the property? Studies have shown that buyers aren’t likely to pay the asking price for a property that has a history of a fatal or fatally-related event.
The stigmas related to these properties don’t just include homicides or suicides; people are also unlikely to want to move in to a home where a criminal previously resided. Depending on your state, these details about the home’s past are not always immediately disclosed. In addition to this, properties in close proximity to cemeteries or funeral homes also tend to decrease in value.
However while some home hunters get hung up on history, others are more interested in a house that meets their a personal preferences. For example, some buyers prefer to live near cemeteries simply because it is consistently a much quieter area.
When searching for your perfect home, recognize what is important to you. Do you know the history of the property you are looking at? Why has it or hasn’t it been disclosed to you? What other factors about the property—such as location, noise level, proximity to schools and hospitals—matter to you? If the amenities of the home outweigh its potential shady past, then you may actually score a great house for an affordable price!
At Title Junction, we care about helping you stay informed throughout your real estate transaction. The experts at our title company have extensive knowledge about real estate not only in Cape Coral and Fort Myers, but all of Florida as well.
Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: What’s Refunded If My Loan Is Higher Than My Estimate?