Selling your property is a huge decision that, unfortunately, leads to hundreds of other decisions that have to be made. One of the largest is how much you’re going to sell your home for.
Whether you’re a first-time seller or you just want to make sure you’re getting what your property is worth: these are the three things to help you decide how much to sell your home for and how to add value to your property.
1- How Old Is Your Home?
Despite the popular opinion that older homes are built better: new construction comes at a 10% to 20% price increase over older properties. This means if your home was built within the last ten years, you could be getting more money out of a sale than someone whose home was built in the 1970s.
This depends on the home to have been built well, though. If it’s a rushed job with uneven light switches and terrible construction, it will hurt the value of the home.
2- Where Is Your Home?
When we ask ourselves, ‘what is my home worth?’ It’s important to remember that location is one of the largest factors. If you live in a heavily populated area, where there are fewer homes available because there are so many motivated buyers: you can see a property worth twice as much as it would be in a rural area just a couple of hours away.
Look at the area your home is in, and check for comparables that are in neighborhoods extremely similar to yours. Even different neighborhoods in the same city can have wildly different values, so check your area for prices.
3- What Condition Is Your Home In?
Is your home well taken care of, or is it damaged and in need of a lot of fixes and changes? You don’t necessarily have to fix all of the issues with the property, but you can expect these problems to decrease the value of your property and decrease the number of interested buyers you have. Making fixes to a property can be expensive and time-consuming, and not every buyer is going to be interested in a fixer-upper.
How Can I Add Value to My Home?
If you don’t like the price you’re seeing for your home right now and want it to be worth more: it’s almost always possible to add value to your home. One of the easiest ways to do this is to give it more curb appeal. Taking steps like power washing any cement, brick, and stone, adding plant life, mowing, and cleaning up your yard, will add value and beauty to your property. People want a home they’ll love to pull up to: so give them a property that’ll stop them in their tracks!
Every Property Can Gain Value
Whether your home is a fifty-year-old fixer-upper, or a brand new build that just wasn’t the right fit for you, it can do well on today’s market. Consider updating your home to add more value!