This is the one question asked by many homeowners looking to sell in the near future. It can be challenging to figure out, as there are many factors that go into the value of your home. We know it can be an overwhelming process, so we created a list of the top 5 things to look for when doing a property valuation.
1. Location: What schools are nearby? What is the commute like?
2. Curb appeal: This is your buyers first impression. What does the landscaping look like?
3. Total square footage: Finishing an unfinished basement could be more appealing to a growing family.
4. Any recent renovations or updates: Newer renovations of kitchens and bathrooms can have an especially positive impact on the home value.
5. Storage and garage space: Basement? Attic? Generally, the more space there is, the higher the valuation.
All of these work together to create the home’s market value. It’s important to understand how much weight each of these factors have so as to avoid overpricing (or underpricing!) your home.