There are many factors that can affect the value of your house when you’re selling it. From its location to the condition it’s in and how much you’re asking for it, each one plays a part in determining whether or not you’ll get the best price for your property.
Here are 9 common factors that will impact the selling price of your house:
If your home is in a desirable neighborhood with good schools and a low crime rate, it will always be worth more than a similar home in an undesirable area.
2. The market
If you live in a buyer’s market, where there are more homes for sale than buyers looking to buy them, it may take longer to sell your house and your offer might be lower than you would like. A seller’s market is the opposite—there are more buyers than homes for sale so you can expect a quicker sale at a higher price.
3. The economy
A strong economy tends to lead to more people buying homes and bidding prices up; a weak economy has the opposite effect on housing prices.
4. Condition of the home
If your home is well-maintained, with updated systems like plumbing, heating, air conditioning, and roofing, it will likely be worth more than one that needs repairs or updating.
5. The amount of land you have
In most cases, the more land a house has, the more valuable it is. However, if the land is unusable or unappealing for some reason (such as if there are a lot of swampy areas), then its value might actually decrease.
6. The number of bedrooms and bathrooms
Houses with more bedrooms and bathrooms tend to be worth more than houses with fewer of either. If you want to add value to your home before putting it on the market, consider adding another half bath or even converting an existing room into a bedroom (provided there’s enough space). Just make sure these additions are done well!
Is your neighborhood up-and-coming? Are there abandoned homes nearby? These kinds of questions matter because people who buy homes tend to look for neighborhoods that are going to hold their value over time (as opposed to ones where values might fall), and also for places where they feel safe and comfortable.
8. Curb appeal
First impressions count, so if your home looks attractive from the outside, potential buyers are more likely to want to venture inside and see what else it has to offer.
Summer is a popular time to sell a house because school is out and families are more likely to move during this period. But it’s also when more houses enter the market, which means more competition for you. Spring is considered the best season to sell a house; around this time, fewer properties are on sale.
These are just a few of the prominent factors that will affect the price of your house at the time of selling. There are ways how you can increase your property’s value. Moreover, there are ways how you can find sellers who would pay you higher.
It’s best to work with the best real estate agent and have them take care of the entire process. Top real estate agents in Canada can assist you end-to-end, ensuring you’re getting the best value for your house. So, search “top selling real estate agents near me” and find a reliable expert.