ONE QUESTION THAT COMES UP MOST OFTEN IS AROUND HOW HOME VALUES CALCULATED.
With that base information established, the next consideration is upgrades. Does the home have new HVAC, roof, kitchen, master bath? I can meet in person or speak with my clients over the phone to fully understand the extent of these upgrades. Some of these updates may raise the value of the home, and some are better for the aesthetics of the home, increasing the appeal to buyers. For example, an outdoor kitchen may yield the smallest return of all upgrades dollar-for-dollar, but can separate one home from another and be the reason it sells. I cannot add $30,000 to the sales price because of it though. As a trusted agent, it’s my job to explain what upgrades add REAL value and which ones add perceived value, like an outdoor kitchen, steam shower, or custom landscaping. It makes a home seem more expensive, but when appraised it won’t actually add to the dollar value of the home.
The next piece of the puzzle is the lot itself. An agent’s expertise really comes into play here. Is the home in a sought-after neighborhood? Is the lot flat, wooded, adjacent to a park, or to a golf course? Is the home on a quiet cul de sac, or a busy intersection? Does the home have a view of the water? Can you see a beautiful city skyline in the distance, or is there a power line obscuring the view? These variances can increase or decrease values by tens of thousands. It takes a local expert to understand the selling points and pain points when determining the value.
With all of those factors determined, I set the asking price. I price to sell, not sit for six months.
A stale listing rapidly becomes less and less appealing to buyers. When you are ready to sell, we want the process to be as swift and painless as possible.
Because of the complex nature of valuations, and for all the reasons listed above, online calculators cannot provide an accurate value. It’s better to work with a Broker to accurately assess your home value. It’s free and doesn’t have to take long. When you are ready to start the process, I’d love to chat.
