Home Selling – Factors that Sway Your Homes Resale Value
Many home buyers don’t think about getting top dollar for their property when they get ready to sell, therefore, they don’t put much thought into the factors that sway a home’s resale value. Knowing what factors can sway your resale can be a complex process. So, let’s take a look at location, size, age, and renovations and how they can help sway your home’s resale value.
√ Location, location, location – Location is a classic factor in real estate. It can make or break your resale value. Prime locations will be near quality schools, strong communities, recreation, activities, shipping, and have high safety standards. Some buyers are even looking for communities that don’t require much use of a car. You should also consider the view, and other nice amenities.
√ Size – While oversized homes are not too popular anymore, large square footage is still very wanted. Over 3,000 square feet can be a lot of upkeep for many families, so they are opting for 2,000 to 2,500 square foot homes.
√ Layout – They layout of the home is a big key factor. Many homebuyers like the open floor plan. It gives a sense of a larger space without the added square footage. Bedrooms can also influence your home’s value. 3 large bedrooms are more desirable than 4 small bedrooms.
√ Age – Homes that tend to hold good value are historic homes and new homes less than 10 years old. As your home gets older it can lose value or remain the same. However, once a home reaches the status of old home, it gains historical value. You also have to consider condition of the home. Buyers will pay upwards of $15,000 more for a home that is in good condition.
√ Renovations – Upgrades can play a big part in your home’s value. You don’t want to go overboard so you should consider your location when doing your renovations. They best way to find out what upgrades can boost the value of your home is to ask a home appraiser to come out and prepare a feasibility analysis. If granite countertops are becoming the norm in your area, you should consider adding them to your kitchen. If stainless steel appliances are all the rave, consider upgrading your appliances.