So, you are interested in finding the value of your home?
At CGI Realty, we understand that there are many reasons why you may be looking to find out what the worth of your home is– mainly because it often involves your family, lifestyle, and financial future.
There are various reasons why you may be seeking to find your home value, including that perhaps you:
- Want to sell your home.
- Are considering purchasing another home.
- Qualify to refinance your home.
- Want to get the right amount of homeowners’ insurance.
- Have become frustrated with high property taxes.
- And so many more reasons!
Factors Contributing to Your Home Value
Many factors contribute to the value of your home, including:
- Landscaping: In the world of Real Estate, first impressions mean a lot. The first thing a potential buyer sees when pulling into a house is the yard and outside conditions. So, be sure that your home has tidy curb appeal to make coming inside as inviting as possible.
- Interior Appearance: Properties in pristine condition are far more likely to be sold quicker than disorganized homes that lack cleanliness. One of a buyer’s biggest turn-offs is walking into a house in poor conditions and in need of an overwhelming amount of repairs.
- Floor Plans: A functional floor plan can add substantial value to your home. Assess your home’s floor plan to decide if it will be beneficial to make changes.
- Upgrades: The quality of your home is one of the biggest things that can affect your home value. With time, certain features of your home, such as; countertops, sinks, light fixtures, tile floors, and so much more, can become outdated, which may significantly affect its value. If you decide to sell your home, investing in upgrades can add tremendous value to your property.
- Square Footage: Generally, homes with larger square feet or large yards will sell for more than homes with fewer square feet and smaller yards. Adding livable square feet can make a big difference in adding home value.
- Décor and Colors: Believe it or not, how you decorate your home can increase or decrease its value. If you are interested in selling your home, we suggest you choose neutral color palettes and decor. In doing so, you will make it more appealing to the masses. Remember, not everyone has the same style; therefore, it is imperative to have a clean canvas for others to quickly put their flare into the home.
- Many Other Factors: Although we have just listed six factors that contribute to the value of your home, many other factors come into play, including:
- The noise level in the area.
- Distressed homes in the area.
- The economy.
- Amenities in the area.
- The location.
- Local crime rates.
- And so much more!
Home Value Factors you CAN and CAN NOT Control
Now that you understand more about the factors that affect your home value, it is essential to note that some factors are out of your control. However, the good news is that there are elements regarding your home value that you can control.
Factors You Cannot Control
- Age of the home: Homes age, it’s just a fact! Although you cannot control when your home was built, it is not always a bad thing to have an older build. Often, homes will increase in value simply because of their architectural design, which may be lacking in newer home designs. After all, the condition of your home is much more important than age.
- Supply & demand: As market conditions fluctuate, so will supply and demand. When supply is low, demand will be high, and the value of your home will increase. Contrarily, when supply is high, the value of your home may decrease.
- Location: The location of your neighborhood, including its school district, will impact your home’s desirability. However, this is not something you have precise control over. According to the National Association of Realtors (NAR) – “26% of recent homebuyers were influenced by the quality of their school district.” This statistic alone has a significant influence based on one factor alone.
Factors You Can Control
- Condition of your home: Your home will be appraised based on its conditions and the number of repairs required. As we have stated above, renovating and upgrading your home can drastically benefit its value.
- Home aesthetic: Creating an aesthetic, neutral home appealing to potential buyers is certainly a factor you can control, ultimately benefiting you as a seller in the long run.
- Livable space: Though an investment, adding livable square footage to your home is an important consideration.
CGI Realty Can Help
Whether you are interested in assessing your home value because you have decided to sell or are thinking about selling, CGI Realty is here to guide you through the entire process. With CGI Realty in your corner, deciding to sell doesn’t have to be tough. We work diligently to get your property on the market and sold to a reliable buyer quickly and efficiently. Visit our website OR contact us at (561)507-0107 today.