When was the last time you determined the value of your property?
The market is always changing! It’s important to always be aware of your property’s value to know your equity and also when the right time sell is. Here are 5 factors that will help you in determining that ⬇️
✅ Neighborhood comps – Look at the sale prices of similar homes in your neighborhood that have sold recently!
✅ Location – Appraisers look at three things when checking your property’s location: the quality of local schools, employment opportunities, and proximity to shopping, entertainment, and recreational centers.
✅ Home size and usable space – Size matters when determining your property’s value! Livable space is what is most important to buyers and appraisers (not including garage, attics, and unfinished basements). Bedrooms and bathrooms are the most valued, so that your home has, the more it is generally worth.
✅ Age and condition – Newer houses typically appraise at a higher value because having a newer roof, HVAC system, appliances, etc will save buyers more money rather than repairing an older house.
✅The local market – The number of other properties for sale in your area and the number of buyers in the market can impact your home value as well.
In the past months, home values have definitely changed. Send me a DM to find out what yours is worth!#propertyvalue #realestate
