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How Can I Measure The Value Of A House? Factors That Make A Difference To The Value Of A House

by | Oct 16, 2020

Do you wonder what’s the value of a house? Do you have a house on the market that is not performing well? These items may be the culprit! Do you see houses for sale all over the place? Are you considering selling one? Here is what you need to know about the value of a house.

Location, Location, Location

Where is it located? What unique features are there? Buyers are drawn to many elements, depending on their needs or goals. First time home buyers are planning to expand their family prioritizing affordability. Is it a pleasant neighborhood to walk? Is it in an area that boasts easy access to culture or shopping? Is the school district top-notch? Is it near medical care or in a historic district? Know your audience and sell to the type of buyers who want to buy in that neighborhood, which can mean sprucing up or bringing attention to the house’s best features. 

How Do You Compare to Other Homeowners?

Is the house poorly kept? Is it over the top? Upgrades out of proportion to the neighborhood hurt your resale value. Buyers shopping for a large luxurious house are not shopping in a more modest area, and neighboring houses impact the valuation. 

Good Floor Plan and Appropriate Square Footage

Open floor plans, please. rabbit warrens must go, so take out a wall and combine spaces. Bigger does not always mean better. Install an extra bathroom. Add a closet and legal egress to a basement room to make it a bedroom.

Historical, not Dilapidated

Historic houses have excellent resale value when well-kept and with modern upgrades. Keep the attractive, original historical characteristics. Preserve artistic carpentry and original hardwood flooring. 

First Impressions Are Everything

How does the property look from the car? Realtors call this curb appeal. Buyers want to see a nicely kept lawn, clean and attractive porch, and siding or paint that has longevity.

Second Impressions Matter Too

Make the house bright and inviting. Get it deep cleaned and keep it clean and uncluttered. Remove visible and olfactive evidence of pets. 

Energy Efficiency Is the Third Impression 

Clean, sustainable, and cheap energy are buzzwords right now. Take advantage of the sun and install solar panels. Today’s buyers see solar panels as evidence of a low carbon footprint and low utility expenses.

Too Many Renovation Choices, Not Enough Money

How to decide? A glorious sunroom, workshop, or studio may be just what the property needs. Avoid carpet or superfluous luxury. Major eyesores or maintenance issues are first. Next, the kitchen, largest bedroom, and largest bathroom are the best choices.