If you are a homeowner, you do have your home as the biggest financial investment and expecting a big amount of money from selling. However, this may not be so easy as you may fail to meet the conditions required for a resale. Below are some of the factors that will affect the resale value of your home:
- The location of your home is very important than even the size and condition of your house. Is the house close to schools, proximity to shopping malls, entertainment, and recreational centers? All these will affect the overall value of your home.
- The size of the home and usable space is an important element since a bigger home positively impact its valuation, buyers will always need this for comfort.
- The condition and age of the home will also determine buying decisions if critical parts of the house are new therefore they are not likely to break down.
- One of the important factors of your home value is the price of similar homes in the neighborhood.
- If your house has a negative history, potential buyers will know about it. These include floods in the area, criminal activities, fire incidence.
- Having done renovations that may not please the buyers because of a different sense of style.
- Buyers always dream of having a home with separate guest rooms and bathrooms.
- Economic condition is also a key factor that will affect the resale value of your home. When the economic condition is slow the housing marketing usually face difficulties. Therefore, it is important to keep up with home sales and home price status.
Consider the above factors when pricing your home, this will attract buyers and will relieve you of the task of long days marketing your home. Additionally, you will be able to avoid the cost that comes with marketing