Value is determined by all the following factors.
LOCATION Fair market value of recent homes sales, your home’s proximity to public transportation, shopping facilities, quality schools, etc., plays an import factor in determining your property’s market value.
SIZE and LAYOUT One of the key factors in your home’s value is the features it provides. For example, some house styles are more popular with buyers than others. The age and size of your home compared to other available properties also plays a part in affecting your home’s value. Layout is a key factor because an open-concept design can look more spacious than a boxy space of the same size. The number of bedrooms also influence a home's value.
CONDITIONS Typically a well kept house that is ready to move-in is more desirable and demands more serious buyers.
Potential buyers will take into account the condition of your home in deciding if they want to buy it and how much they are willing to pay for it. A home in Turn-Key, Move-in condition has a much higher potential for a top dollar sale than one that is lacking the most basic routine maintenance.
Buyers look for important conditions like paints, floor covering, walls, ceilings, floors, doors and windows. In some cases buyers may also pay close attention to the plumbing and electrical.
HOME IMPROVEMENTS
Renovations play into a home's value. It wouldn't hurt to visit neighbors homes or visit a open house to see what people are marketing. Most people think that home improvements are a sure way to increase the value of a home. Major home improvements are unquestionably important factors that affect the property value. Improvements like room additions, bedrooms, bathrooms, kitchens and other items like floor tiles, swimming pools, etc., can increase the value of your home. However, it only matters what those improvements are worth to the buyer.
