Factors that go into Your Home’s Value
Want to know your home’s value is? Does your Zestimate seem off? There are various factors that go into your home’s value such as:
Age and Condition
- Your home’s age
- overall level of upkeep are big factors such as an old roof that degrades the value of the home.
- On the other hand, a 100-year-old home that’s beautifully maintained and restored can be worth much more.
- Home buyers want to purchase a home they don’t have to sink a lot of money into from the start.
- Well-maintained homes with updated features and modern amenities tend to have higher value than those in need of significant repairs or renovations.
Property features and upgrades:
- Does your home’s living room still have that ’70s vibe to it or wood paneling. That’s going to date your home and reduce its overall value.
- If the home has an upgraded basement, on the other hand, that adds value, as do things like a renovated kitchen or bathroom, energy-efficient appliances, hardwood flooring, a fireplace, a swimming pool, and a well-landscaped yard.
Size and layout:
- The size of the home,
- number of bedrooms
- overall square footage
- Additionally, the layout and functionality of the house, including open floor plans and adequate storage space, can influence its desirability and value.
- Being close to the 95, Rt 1, the turnpike,
- in an area with neighborhood parks and tree-lined streets with sidewalks, makes all the difference.
- People want to be able to drop their kids off at a school that’s nearby, grab that coffee, and get to work quickly. Location makes a big difference.
The Local Market
- What are homes selling for that are similar to yours?
- How many homes are on the market? What is the supply and demand level of the area?
- How high is the current interest rate?
- Are you located in a school district that is in high demand?
Red Hot Tip of the Week!
4 Important Rooms to Stage
1. Living Room
3. Master Bedroom
4. Family Room
Thinking about making a move and want to net the most? Prepare in advance and contact me for a free in Home Salability Assessment or call (267) 397-6291.