Red Wing, Minnesota
610 Main St.
Red Wing, MN 55066
(651) 388-4745

4 Key Factors That Affect the Value of Houses for Sale November 13, 2017

Red Wing, Goodhue
4 Key Factors That Affect the Value of Houses for Sale, Red Wing, Minnesota

Houses for sale have a number of key factors that determine how well they do once they’re on the market. Apart from lot size and square footage, someone selling a house should assess the following factors to accurately value their property and find the right buyer in the least amount of time.

Consider the following essentials:

  • Property Location: In terms of location, three factors that affect real estate prices the most are proximity to schools, local employment, and recreational establishments. One—if not all three of these—will greatly affect a buyer’s quality of life. As such, the closer your house for sale is to these locations, the higher you can set your asking price.

  • Rooms & Amenities: No matter how big or small a home is, the breakdown of rooms and facilities can highly influence its value. Three bedrooms, two bathrooms, and a spacious garage usually dominate buyers’ wishlists. Outdoor entertainment areas, cabanas, and work-from-home spaces are also increasingly in demand.

  • houses for saleTechnology: The largest share of homebuyers for the last four years is millennials ages 36 and younger. Having a tech-friendly home is extremely important if you are looking to attract buyers from this demographic. Features like built-in charger points, home automation tools, security systems, lighting controls, and solar heating can increase the desirability and price of a property.

  • Updates & Upgrades: Nowadays, many buyers prefer a move-in-ready home and are willing to spend a reasonable amount for that convenience. This makes remodeled homes more valuable. For instance, a new roof can recoup more than 80% of its value when the home is sold. Kitchen and bathroom upgrades, in particular, provide high returns on investment because they are the two areas in the home buyers value the most.

Whether you’re selling your property or looking at houses for sale in Red Wing, MN, you can count on Lawrence Realty Inc. for quality services. These real estate agents use their local expertise and professional training to guide clients through the buying and selling processes. Call them today at (651) 388-4745. You can also start browsing real estate listings on their website.

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