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Real estate values can sometimes seem arbitrary, with one house selling for thousands more than a similar property just a few blocks away. If you’re putting your home on the market, you might be wondering how your property value is determined, and whether there’s anything you can do to boost the asking price. Here are the top factors to consider so you can get the most out of your sale.

What Factors Influence Property Value?

1. Location

Nothing is more important in real estate than location. Homes in more desirable neighborhoods with easy access to popular attractions, top-rated schools, and amenities will usually fetch higher prices than those in other areas. Understanding the value of your neighborhood will help you set realistic expectations when settling on a price.

2. Local Market

real estate Before deciding on a price, your real estate agent will research recent sales of similar properties to figure out how much buyers are willing to pay. These comparable properties, or “comps,” provide valuable insight into the state of the local market, including how much demand there is for properties like yours.

3. Condition of Major Systems

When getting their house ready to sell, many homeowners concentrate on cosmetic improvements and upgrades. However, the plumbing, electrical system, and the roof have a much stronger impact on the value. If your house has an aging roof or outdated wiring, investing in these critical systems will boost values more than a freshly remodeled bathroom.

 

Selling a house can be a confusing, labor-intensive project, but a skilled real estate agent can take all the stress out of the process. Homeowners throughout the Oak Ridge, NC, area rely on The Justice Group for their in-depth experience and proven track record of getting fast sales at the highest prices possible. Visit their website to access a market report today, or call (336) 324-5716 to speak with an experienced agent. For more tips and advice, like them on Facebook.

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