What is my house worth?

/What is my house worth?
What is my house worth? 2017-03-14T23:59:57+00:00

WHAT IS MY HOUSE WORTH?

Often one of the first steps in deciding between selling your property for cash or listing traditionally with an agent is determining how much your house is worth. Unfortunately, this question is more complicated than it seems. In today’s complicated markets where buyers have access to infinite knowledge via the internet, it’s important before pricing your home to analyze all the factors that determine your property’s worth.

Below, Sean Katona, Simplified Properties owner, has compiled the 7 important factors you should consider in determining the worth of your property. We’d also be happy to set up a complimentary, no obligation consultation with you for the value of your home. We can go over the options together and determine what the best choices are for your specific situation. Or give us a call: 888-991-1070

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The 7 Vital Factors to Determine Your Property’s Worth

1. LOCATION

The classic cliche still and will always ring true in real estate: “location, location, location!” It’s easy to gather that a beautiful home in the wrong part of town may be hard to sell, or that a house with great location will sell faster. There are many factors that go into the desirability of your location. Is the property located on a busy street? Is it close to public transportation, employment, or grocery stores? How is the school district? These are all important factors to consider.

2. CONDITION & AGE

This may be a hard one to judge objectively, especially if this is a personal property that you’ve lived in, loved, and made memories in. However the condition of the home, when compared to all the other properties available, strongly dictates how much the home is worth. Does it need cosmetic updates or repairs? Is there damage or repairs needed? A good place to start is to ask yourself, if you were going to keep and live in the home – what would you like to change or fix?

3. SIZE

Depending on the market and neighborhood that your home is in, size can pay a significant factor in how quickly or slowly your homes sales. In some neighborhoods, many buyers are multi-generation families looking for maximum bedroom and bathrooms. In others, first time home buying millennials are willing to sacrifice on space to be near to downtown conveniences. When comparing your property to others that have sold, make sure to be comparing similar size lots and houses.

4. BEDROOM & BATHROOM COUNT

Depending on the area of your property, the number of bedrooms and bathrooms can be paramount to how much you can sell the home for. For example, some market areas have mostly young working professionals looking for a maximum of 2-3 bedrooms. Other areas are made up of mostly working families who made need to house multiple generations, including kids and grandparents, under one roof. A good real estate professional can help you determine the demands of your specific area.

5. CURB APPEAL

When we purchase a project, one of the first projects we tackle are the landscaping and curb appeal. If the buyer’s first impression is one of a messy yard, debris, holes in the siding or stucco, boarded up windows, or a caving roof, it can be hard to come back from. With more and more buyer searches originating from the internet, curb appeal is now more impactful than ever and we cannot express the importance of curb appeal enough!

 

6. MARKET CONDITIONS

The overall market conditions strongly determine the worth of your property. This includes the current lending environment, available inventory, average days on market, and more. We do not advise trying to understand all these complicated factors yourself and instead schedule a consultation with  a knowledgeable real estate professional. An agent, or a reputable redeveloper like Simplified Properties, will be happy to discuss your options. An educated professional will help you to learn your options in the current market where you property is located.

 

7. RECENT COMPARABLE SALES

This is another area where it’s advisable to get a real estate professional involved, however if you have a very clear understanding of the size, square footage, location, and market demands in your area, you can begin to find this information yourself online. On websites like Trulia, Zillow, or Redfin you can see recently closed sales in your area, however we recommend before getting your expectations too set in stone to consult a professional. A real estate agent or professional company like Simplified Properties will be happy to pull comparable listings to show you were your property stacks up against the competition.

Talk to a Simplified team member to learn your options today!

We’ll make you a fair cash offer for the value of your home, and work together to help you find the best solution for your unique situation.

 888-991-1070

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