Ever wondered what impacts the value of your home?
These 4 factors determine your home’s value, and as a result, what your home will sell for. So let’s go over the factors!
1. Size: In most cases, the bigger the home, the more it’s worth.
2. Age and condition: If your home is brand new, it will be worth more than an older, more run down property. But don’t despair if your home is older–some buyers look specifically for older homes.
3. Updates and upgrades: Upgrading your home’s features, like a kitchen renovation, will almost always boost your home’s value!
4. Neighborhood comps: Your home’s value is also dependent on how much similar homes (called comps) in your neighborhood are selling for.
A lot goes into your home’s value–much more than just how many bedrooms and bathrooms you have! Your agent will use your home’s value to price the property, but they’ll also use some other strategies to make sure your home is priced correctly for the market.