Your Home Value.

Selling your home? Good for you! But have you considered how much your house is worth? Do you know what factors impact your home value?

If you’re unsure or need a bit more help, take a look at this quick list of top factors.

Basically, five factors weigh heavily in determining the overall home value, namely:

1. Location of the house
2. External features of the house
3. Internal features of the house
4. Supply and demand
5. Negative events

Let’s discuss them in detail!

1. Location, Location, Location!

What factors determine if the location is good?

Local amenities, a good neighborhood, and a solution to the buyer’s needs.

The location of your house may offer various amenities (or may be far away from negative amenities), and your neighborhood may be friendly. However, it is often the third option that seals the deal for many home buyers. How well your home meets the prospective buyer’s needs usually trumps the importance of amenities and neighborhood location.

For instance, if you have a small yet gorgeous place and a commercial area is close by, a career-oriented, newlywed couple might be the perfect customers for you. Your estate agent will be able to target serious buyers looking for a solution that your house offers.

2. Curb Appeal is Crucial

No matter what anyone says, first impressions are important!

When a prospective buyer drives past your home, curb appeal matters. Often, this can be the deciding factor between the buyer becoming impressed enough to consider a showing. Or, driving away to another home.

Be cognizant of the little things. Even the little things make a difference in home value. Make sure that peeling paint does not become your downfall. And, invest in smart upgrades that would reflect how responsible you are as a homeowner. Your real estate agent can help you decide if any repair or maintenance work should be done to enhance your curb appeal. They can also help prioritize the list for you so that you can tackle the highest impact items first.

3. Take Care of the Inner Beauty

Many internal features impact your home value. These include the quality of construction, energy efficiency, and the size and number of beds and bathrooms. Additionally, the condition of your home, along with sought-after features such as media rooms, large lots, or extra living space, plays an important part in determining home value.

While a well-maintained exterior can capture buyers’ attention, it is the great interior that often earns you the stamp of approval and a potential offer!

It is important to maintain the interior of your house so that its value remains at its prime. So many people do nothing to their homes year over year. Then, only do upgrades when they are selling. Why not upgrade to enjoy your time at home?

If you are unsure which internal upgrades can increase your home value, take a look at this handy list.

4. Research the Market

Let’s give you the inside scoop: Yes, there are times when the market is hot and times when it is not. And yes, the pricing of your home will be affected by the state of the market. However, the most important factor here is how you make use of the current state of the market.

This is where great real estate agents can help you capitalize on market opportunities through in-depth competitive research, expert marketing, and skilled negotiations.

For more information on how an experienced agent can help you get top dollar for your home, check out this article.

5. Negate the Negative Events with a Real Estate Agent

If there has been a negative event, such as a violent crime, or if your house has faced problems like a fire, mold, or pest infestation, you are required by law to include that information in the seller disclosure.

These negative events may hinder the sale of your house. However, if you have a reliable estate agent by your side, they can help the buyers focus on the better features of your home and close a solid deal for you.

If you want to consult a real estate agent about the market value of your home and to find out about the current market conditions, contact us today!