There are several factors that will help you determine the value of your home when you want to sell it. Location, condition, layout, upgrades, and events relating to your home are all important when selling your home.
It’s All About Location
Anyone in real estate will tell you location, location, location is
the first thing to consider when buying real estate. If your home is on a
busy street, it’s going to be harder to sell unless someone is looking
for that exact location.
If a buyer is looking to have a business inside the home, then having
more exposure could be important. However, for a family, the most
sought after location is in a cul-de-sac or dead-end street where
traffic is kept to a minimum.
Your Home’s Condition Is Important
The home you are selling must be in excellent condition to ensure you
get top dollar. Buyers are primarily looking for a home that is in
move-in condition. If it needs painting, new flooring, a new roof, or
new plumbing, it isn’t as desirable as a home that doesn’t need any
work. Newer homes typically are in better condition than older homes,
unless they have been well-maintained.
Your Home’s Layout
Is your floorplan functional? Most buyers prefer homes with open
floorplans and ample kitchens, living areas, and bathrooms. Closets are
also important as everyone needs storage space. The number of bedrooms a
home has can also be important. Two bedrooms aren’t as popular or
functional as three or four bedrooms. It’s also nice to have a flex room
that can be a study, exercise room, or a formal dining room if need be.
If a smaller home is well-designed, it can be easier to resale than a
Upgrades And Renovations
If you have an older home, but have upgraded the kitchen and
bathrooms, then your home will be easier to sell. Updated appliances can
also be a big plus when selling a home.
Natural Disasters And Other Events
If your home has been flooded, been through a fire, or damaged from
wind or a storm, then that may cause the value to be less. If a buyer
happens to talk to a neighbor who tells them a negative story, that may
spook a buyer and cause them to look elsewhere.