Last week I told you about the dangers of listing your home at the wrong price. Now check out this week’s article about what affects the value of your home. It will give you further insight to help you understand how to list your home at the right price and get the most for your money.
When determining the value of your home, you want to get a comprehensive market analysis. Working with a realtor is the best way to go in this situation. With their professional experience, they can steer you in the right direction.
Listed below are just a few things that can affect the value of your home:
Location- What’s near your home? Are there restaurants, schools, highways, etc? How close or far away are you to these things? Distance can affect market value.
Market Trends- Is the market slow or picking up speed? Market trends, good or bad, can impact your home value and selling price.
Comparable Homes- Look at prices of recent home sales in your neighborhood. This will help determine your property value. A real estate professional can help you obtain prices from recent home sales and understand how they affect you.
Condition of Home- When was your home built? What kind of improvements have you made? What still needs to be done?
Home Size- Many buyers looking for a new home are looking for more space. Can your home offer that?
Repairs/Improvements- To go along with the condition of your home, what kind of upgrades have you done? Have you changed flooring, upgraded your kitchen or remodeled your bathroom? Buyers don’t want to do much when they move into a new home. The less they have to do, the better.
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