When you’re shopping for (or selling) a home, it’s normal to wonder why one home is priced five or six figures higher or lower than another home on the same block. Some factors that influence a home’s value are obvious, but what about some of those price-influencers that are a little less obvious and more difficult to measure? HouseCanary examined five “hidden” factors that can have an impact on home value:
- View angle from backyard
- Frontage length
- Backyard exposure to neighbors
- Privacy score
- Backyard slope
We controlled for other value influencers, such as location, lot size, gross living area (square footage), and more, so we could isolate the effect of these hidden factors. And we found that the relative importance of these factors can vary widely according to where the home is located.