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#218649 - 04/10/08 02:53 PM How Important is a Driveway?
HouseHunter08 Offline
Junior Member

Registered: 04/10/08
Posts: 2
Loc: Boston, MA
My boyfriend and I found the (almost)perfect single family house...the only problem is that it lacks a driveway. We aren't too concerned about parking because there are plenty of spots on the street, but we are worried about how it will impact our ability to sell the house when/if we should decide to do so. Our back up property is a condo that is 800 sq feet smaller but has a garage space. Can anyone offer some advice? Thanks!

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#218663 - 04/10/08 03:54 PM Re: How Important is a Driveway? [Re: HouseHunter08]
jjohnson1985 Offline
Member

Registered: 03/13/08
Posts: 101
Loc: Ohio
I am not licensed but I do know every market is different. Does the property conform to the surrounding neighborhood? Meaning, are all the houses in the neighborhood without driveways? If possible, look at comparables of sold homes in the area and try to find simular homes where one or more have a driveway and one or more do not. If you look at the sale price (all things being equal so time sold is a major factor) between the comparables, how much more is the market paying for driveways? There really isn't a cookie cutter situation.

If the property in question is the only one or very few homes do not have driveways, than this will definately lower the value compared to the others, all other things being equal. It also depends on the buyer. Is the buyer willing to pay the extra money that the market demands for a driveway? If having a driveway is no concern, then maybe the lower price is what is most important to the future buyer. The most important factor contributing to value of real estate is location, location, location, not always the improvements.

I know this doesn't answer your question but maybe it will help you find where to look for the answer. The problem though also is that markets always change so looking into the future is not the easiest thing to do.
_________________________
_______________________________________
I am not licensed. I'm just the average Joe.

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#218684 - 04/10/08 05:12 PM Re: How Important is a Driveway? [Re: jjohnson1985]
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 5285
Loc: georgia
Your broker or agent should be helping you with this. Since buyer representation is FREE and paid by the seller you should not be out there going it alone.

The broker negotiates price and has the experience with the contracts and earnest money.If other properties closeby have driveways at some point you will need one for resale purposes.

You could just get the driveway done now with the home loan and have it rolled in. Price will depend on how big the driveway is, whether you use asphalt or concrete,pavers and what type of detailing the driveway has. Usually contractors will give a free labor and material estimate. no legal advice

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#218702 - 04/10/08 06:45 PM Re: How Important is a Driveway? [Re: super realtor]
jjohnson1985 Offline
Member

Registered: 03/13/08
Posts: 101
Loc: Ohio
 Originally Posted By: super realtor
Your broker or agent should be helping you with this. Since buyer representation is FREE and paid by the seller you should not be out there going it alone.


I definately agree with this. While writting my reply I was thinking at the time assuming you have representation. I know what happens when I assume. ;\)
_________________________
_______________________________________
I am not licensed. I'm just the average Joe.

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#218866 - 04/11/08 08:37 AM Re: How Important is a Driveway? [Re: jjohnson1985]
HouseHunter08 Offline
Junior Member

Registered: 04/10/08
Posts: 2
Loc: Boston, MA
We do have a buyers agent. Unfortunately he is neither proactive nor particularly helpful. My boyfriend and I have done 90% of the legwork. All our agent has done is call the listing agents for the places we want to see and then drives us to see them. On the rare occasions that he has suggested a property for us to see, it is never anything that meets our one non-negotiable criteria (must be .5 miles or less to the MBTA). We can go days without getting a response from him either via email or via phone and he never just checks in with us to see how things are. Most irritatingly though, after seeing a few places that we liked on a saturday and talking about making an offer, he dropped us off and told us that he was taking the next couple of days off to relax and that he would get in touch with us during the week. Basically, if we wanted to make an offer, it was going to have to wait until he was ready. Am I just expecting too much from an agent or is his behavior typical?

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#218880 - 04/11/08 09:28 AM Re: How Important is a Driveway? [Re: HouseHunter08]
trush Offline
Member

Registered: 01/06/08
Posts: 157
Loc: Outer Banks, NC
If a paved driveway is important to you on this property either now or later, you'd better find out NOW if you can get a permit for one--issues may arise such as curb cut allowances or lot coverage, encroachment and/or setback violation issues.
_________________________
What's in your backyard? Outer Banks vacation home sales Get a piece of the beach!

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#218881 - 04/11/08 09:32 AM Re: How Important is a Driveway? [Re: trush]
Bigtoe Offline
Veteran Member

Registered: 10/14/07
Posts: 585
Loc: Outer Banks
Is this the only agent you can find. Interview a few agents. get one that you like. The most trying part of your deal hasn't yet happened.
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Your Outer Banks real estate agent. Visit Outer Banks Community Forum for all the latest OBX events.

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#219277 - 04/13/08 07:50 AM Re: How Important is a Driveway? [Re: Bigtoe]
Perky_REALTOR Global Moderator Offline
Major Contributor

Registered: 11/27/06
Posts: 3871
Loc: Northeast PA
Sadly, HouseHunter, your experience with your buyer agent is unfortunately common. There are more than a few incompetent and unmotivated agents out there.

Tell him you're going to look for another agent, thank him for his time but you can tell he's too busy to worry abotu lil' ol' you and you dont' want to bother him anymore.

Then find an agent who will actually work for you.

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#219328 - 04/13/08 02:03 PM Re: How Important is a Driveway? [Re: HouseHunter08]
shana Offline
Member

Registered: 11/06/07
Posts: 275
Loc: Nevada
 Originally Posted By: HouseHunter08
My boyfriend and I found the (almost)perfect single family house...the only problem is that it lacks a driveway. We aren't too concerned about parking because there are plenty of spots on the street, but we are worried about how it will impact our ability to sell the house when/if we should decide to do so. Our back up property is a condo that is 800 sq feet smaller but has a garage space. Can anyone offer some advice? Thanks!


while making out in the car, the added privacy of sitting in the driveway (as opposed to the street) is a definite benefit. since there are plenty of young, unmarried couples that have the desire to make out in the car, the demand/resale value issue should not be a concern.

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#219552 - 04/14/08 09:36 AM Re: How Important is a Driveway? [Re: shana]
REODayton Global Moderator Offline
Major Contributor

Registered: 07/27/06
Posts: 1523
Loc: Dayton Ohio
Depends on the area. On my street a Driveway is huge. On my block out of 16 houses only 5 of us have driveways. We try to coordinate parties with the neighbors as the street parking is limited. So us with driveway are always invited to the parties in hopes that we will allow additional parking.

When I comp out the value of the driveway its not huge, maybe 3-4K. The Days on market though are alot shorter.

When we bought our house, I was not an agent and the driveway was not a big deal to me. Now its a huge deal, I could not live without it.

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#219679 - 04/14/08 05:24 PM Re: How Important is a Driveway? [Re: REODayton]
Delicious Cake Offline
Major Contributor

Registered: 12/10/05
Posts: 2668
Loc: CA
It is always so interesting to read posts from another state.

I have only ever seen one property here without a driveway. It was the lowest priced listing in the area and still took almost 2 years to sell due to no off street parking.

I can't imagine a neighborhood of no driveways! My pet peeve is people parking in the street!

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#219685 - 04/14/08 05:37 PM Re: How Important is a Driveway? [Re: Delicious Cake]
Perky_REALTOR Global Moderator Offline
Major Contributor

Registered: 11/27/06
Posts: 3871
Loc: Northeast PA
I know of one property ere without a driveway. Of course there could be more, but the only one I know of sold for wayyyy cheap. Not only is there no driveway, but the street is a way crazy busy street (US Route 6, in fact...) Lots of traffic for a wittle bittle town..and no driveway! It's built into a hill so you have to go up a gazillion steps to get to it, and the steps end practically in the street.

Needless to say my buyers declined. It did sell...but probably would have sold a little quicker and for a bit more had it had a driveway.

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#219867 - 04/15/08 09:46 AM Re: How Important is a Driveway? [Re: Delicious Cake]
REODayton Global Moderator Offline
Major Contributor

Registered: 07/27/06
Posts: 1523
Loc: Dayton Ohio
 Originally Posted By: Auburn CA
It is always so interesting to read posts from another state.

I have only ever seen one property here without a driveway. It was the lowest priced listing in the area and still took almost 2 years to sell due to no off street parking.

I can't imagine a neighborhood of no driveways! My pet peeve is people parking in the street!


My neighbor lost 3 mirrors last year from parking on the street. I was the only driver the fessed up and replaced it for him.

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#222144 - 04/23/08 11:57 PM Re: How Important is a Driveway? [Re: REODayton]
Viktor Offline
Member

Registered: 09/23/07
Posts: 390
Loc: Plano, TX
1. If you do not like the agent just fire him.

2. Everything is price, if you buy this property on good price you should be able to seell it later without losing money. All is matter of numbers.

3. A lot of times things does not depend of the buyers agent, it is very important how the listing agent works. If he can’t explain his buyers that this property is above the market so your agent is not be able to do anything.
_________________________
Viktor Taushanov
Coldwell Banker Residential Brokerage
Plano, TX
www.planorealestateadvisor.com
www.planorealty.blogspot.com
viktor.taushanov@cbdfw.com


I love referrals!

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#222324 - 04/24/08 02:46 PM Re: How Important is a Driveway? [Re: HouseHunter08]
estatereal Offline
Major Contributor

Registered: 01/27/07
Posts: 1725
Loc: USA
We do have a buyers agent. Unfortunately he is neither proactive nor particularly helpful. My boyfriend and I have done 90% of the legwork the real work comes after the home is found(anyone can open a door and let you look at the place, but a true professional is there to truly guide you through the experience. years ago agents were needed to find the house, now buyers have access to the internet and that is where the houses are. i know that you could pick out a better house for yourself than i could pick for you. you are the one who truly knows what you like. All our agent has done is call the listing agents for the places we want to see and then drives us to see them. On the rare occasions that he has suggested a property for us to see, it is never anything that meets our one non-negotiable criteria (must be .5 miles or less to the MBTA). We can go days without getting a response from him there is the chance that there might not be any new properties that he feels meet your criteria either via email or via phone and he never just checks in with us to see how things are. Most irritatingly though, after seeing a few places that we liked on a saturday and talking about making an offer, he dropped us off and told us that he was taking the next couple of days off to relax and that he would get in touch with us during the week. Basically, if we wanted to make an offer, did you come out and say "i want to make an offer." i would bet that if he thought you wanted to make an offer he would have gotten the paperwork ready. i am guessing that there could have been some miscommunication on both parts it was going to have to wait until he was ready. Am I just expecting too much from an agent or is his behavior typical?

have an honest conversation with him, let him know how you feel. like any relationship, business or personal *communication is the key*.

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