Selling Soon? Calculating Your Home Value

If you’re planning on putting your home on the market soon, you first need to figure out how much it’s worth. Timing, price and marketing are key to a positive selling experience. When calculating your home value, there are several things to take into consideration in addition to your location.

The characteristics of your home can make a big difference in its worth. Your home’s size, the total number of rooms and the number of bathrooms and bedrooms it has are all important factors to include. Your home’s structural condition also helps determine your home’s value. Homes that are in better condition are worth more than those that need more work. Your home will also be worth more if it has a fireplace, central air conditioning, a three car garage and a full-size finished basement that isn’t prone to flooding or water damage. Other factors to look at include utility costs, landscaping, property views and energy efficiency.

Your community can also affect how much your home is worth. Being in a safe and quiet area, being close to good schools and having a home owner’s association can have a positive impact on your home’s value. Your home will be worth more if it’s also near restaurants, stores, parks, libraries and recreational facilities. Having reliable police and fire departments is important too. A couple of other things to consider include planned zoning changes or development projects that are in the works.

This gives you an idea of how complicated calculating your current home value can be. Working with a real estate professional helps ensure that you get an accurate and up-to-date estimate of your home’s worth. An agent will have the training and knowledge of new mortgage guidelines and how they affect comparable property searches for helping you set your list price. Interviewing agents will also give you an overview of their marketing techniques and features along with added benefits to relocation programs they may have available to assist with your move up, downsizing or out of our area. A good agent will go over not only the price but the entire process so that you are prepared for what could be a whirlwind of events from listing to closing. .

Ready to start the selling process? Contact a Realtor for a Comparative Market Analysis report and marketing presentation. See if the time is right for you!