how much does having no backyard affect resale value? how much does having no backyard affect resale value/?

Asked by Eileen, Niagara Falls, NY Fri Jun 15, 2012

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Michelle Cook, Agent, West Des Moines, IA
Fri Jun 15, 2012
Eileen, It is difficult to "quantify" the effect on resale value without a better definition of "no backyard". Is the back property all hardscaped and filled with plantings? Do other homes back up to the back of the home, providing little or no privacy? Or is there privacy provided through privacy fencing, or privacy landscaping?

Usually, when doing a market analysis of a home's value, lot size does not have a huge impact on market value unless there is acreage tied to the property. Even then, some buyers don't care about the additional land, so they are not willing to pay more for it - for example, an empty nester who would not want the maintenance of a large backyard. What are the neighboring homes like? Do they have similar back yards? Generally speaking, the lot size, elevation, etc. may make have an impact on how quickly the home sells, but not so much on market value. If I knew more about the specific property, I could provide you better information. Feel free to contact me, if I can help your further with real estate needs in the Des Moines and surrounding IA market. Thanks!
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Nina Harris, Agent, Williston Park, NY
Fri Jun 15, 2012
I would look at it as if it is on a busy street or corner property (perhaps 5% to 10% lower than a similar home situated mid-block). The ramifications would be that there are fewer buyers looking for this type of property. The potential buyer would be who's looking for less maintenance, does very little entertaining or someone with teenage children who longer use a yard.

Good luck
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