Setting the asking price may be one of the most important decisions you’ll have to make when you sell a house, but many homeowners aren’t sure where to start. While home values may sometimes seem arbitrary, they’re based on a variety of factors, including everything from the location of the home to broad, city-wide trends. Below are just a few of the elements that go into calculating the value of your home.
Factors That Influence Your Property Values
Homes in more desirable neighborhoods will almost always be worth more than similar properties in other areas. The distance to popular parts of town, interstate access, and the aesthetics of the location all play a part, as do the style and condition of nearby properties.
Local Market Conditions
To a large extent, real estate prices are subject to supply and demand. When there are more properties available than house hunters, prices in most areas will start to drop. Conversely, they’ll rise in a seller’s market, when there aren’t enough properties to go around. When determining the property value, your agent will look to see what comparable properties have sold for recently.
Condition of the Home
While many factors that shape property values are generally outside of your control, you may be able to influence several others. For instance, buyers look at the fundamentals of the home, including the condition of the roof and the age of the HVAC system. A freshly remodeled kitchen and a new bathroom can also make your home more appealing to buyers, driving up the property values.
If you want to sell a house anywhere in metro Denver, Colorado Sean of Resident Realty has the expertise to help set the right price and get the attention of buyers looking for properties like yours. With his proven techniques and track record of success, you can rely on him to get you the full value of your home and the fastest sale possible. For more advice, follow him on Facebook, and call (720) 277-1889 or just visit his website to talk about how to sell a house today.