Do you know what the terms “home amenity” and “externality” mean?
Do you know what Hidden Amenity or Externality refers to? These terms are used often, but do you know what they really mean? Let’s break them down: Hidden amenities are upgrades or features of a property that are generally not visible to the naked eye yet have a positive impact of the property’s value. An externality is any external force outside of the property that could negatively or positively impact the property’s value. For example, high tension power lines on the block could have a negative impact on the property’s value, but having a view of a lake or pond would likely have a positive impact. Norman Hubbard knows a thing or two about real estate appraisals. For a quick & efficient appraisal call Norman Hubbardtoday.