Fri. Apr 12th, 2024

5 Factors That Influence A Home’s Selling Value

 

Getting the best price for a home is typically the primary goal of home sellers. These tips likely help increase the value of your home and establish critical factors that potentially influence the selling value of homes.

Local market affects sale of homes

The housing market potentially affects the value of homes. The number of Orlando vacation homes for sale and number of buyers looking to buy a home in your area possibly affects how long your home stays on the market.

If it is a seller’s market, chances are that it will sell quickly, compared to a buyer’s market, when homes spend more days on market.

Location, location, location

Location is important to buyers looking for points such as quality of area schools, proximity to shopping, entertainment, workplaces, and access to transportation.

Appraisers also consider the recent selling price of nearby homes.

Updates and upgrades

When homes have updates and upgrades, they likely sell faster than other houses. New flooring, new faucets, and other updated fixtures possibly deliver good return on investment (ROI).

Do not forget the outside of the home. Curb appeal matters, and includes landscaping, not just a new exterior paint job. The American Society of Landscape Architects reveals that landscaping adds up to 15 percent to the value of a home.

Usable space and home size matters

The size and usable space possibly affects value. Larger homes typically command a higher selling price. The value of smaller houses potentially increases when there is large useable space.

The attic, garage, basement, and deck are normally not counted in a home’s size, yet are often important selling points.

Condition and age

Age and condition affect a home’s value. A move-in-ready home generally appeals to more buyers.

If you recently installed a new roof or furnace, there is likely a long-term warranty, compared to another buy vacation homes in Orlando that has an older roof or furnace.

Smart-home technology improves the appeal and condition of a home, when you add features such as automated door locks and lighting, and home security system.

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