Selling a house can be stressful and emotional. Homeowners often have many memories tied to their property, but when it’s time to sell, you need to be strategic and objective.
To determine the best market value for your home, consider these five key factors:
Location
location is an important key factor in real estate. Where your house is located greatly affects its value. Key aspects to consider include:
School Zones:
Homes in areas with top-performing schools usually sell for more.
Commute:
Houses near train stations or major job centres as more demand. Find more information about Selling Your Home in Chandler AZ
Amenities:
neighbourhood to stores, parks, and restaurants is a big plus.
Safety:
Lower crime rates make an area more attractive.
Future Developments:
New construction or improvements in the area can increase property values, while new busy roads or demolitions can lower them.
You can’t change your location, but looking at similar homes in your area can help you set a competitive price.
Property Condition
Buyers will examine your home’s condition. Making repairs and updates can help you get a better price. Some upgrades to consider include:
Fresh Paint:
Neutral colours appeal to more buyers.
Deep Cleaning:
Clean carpets and fabric make a good impression.
Fix Issues:
Repair leaks, electrical problems, and structural damage.
Curb Appeal:
Improve the exterior with fresh paint and landscaping.
Modernize:
Update kitchens and bathrooms, if needed.
Home Size
In real estate, size matters. Larger homes usually sell for more, but only up to a point. Homes that are too big for the area might stay on the market longer. Consider these factors:
Total Square Footage:
Homes that are significantly larger than others in the neighbourhood may not sell for as much per square foot.
Bedrooms and Bathrooms:
More bedrooms and bathrooms typically add value.
Open Floor Plan:
Modern buyers like open layouts for socializing and family time.
Basement Suites:
Homes with finished basements or potential for additional living spaces are attractive. Yard size also matters
Home Features and Finishes
Today’s buyers have high expectations. Highlight your home’s best features and finishes to stand out. Some valuable features include:
Check Appeal:
A well-kept exterior creates a fantastic first impression.
Modern Kitchens:
High-quality countertops, appliances, and ample storage are big draws.
Luxury Bathrooms:
Features like soaker tubs and custom showers add value.
Smart Home Tech:
Integrated technology and security systems are appealing.
Comparable Sales
The best way to set your home’s price is to look at similar homes that have recently sold nearby. These are called “comps.” Tips for finding good comps include:
Recent Sales:
Look at homes sold in the last six months.
Neighbour:
Choose homes within a mile of yours.
Similar Features:
Find homes with similar size, layout, and upgrades.
Avoid Distressed Sales:
Don’t compare with foreclosures or short sales.
By considering these factors, you can set a competitive price for your home and attract the right buyers.
