What Factors Influence My Home’s Value?

  1. Neighborhood Comparable Homes
    1. Past/Recent sale prices
    2. Amenities
    3. The local market
  2. Location
    1. Schools
    2. Businesses
    3. Public transportation and rail
    4. Shopping & entertainment
    5. Highways
  3. Home Size
    1. Square Footage
    2. Usable Space
      1. garage, attics, and unfinished basements don’t count!
    3. Number of bedrooms/bathrooms
  4. Age & Condition
    1. Newer homes typically appraise for higher
    2. Plumbing/Electrical/Roof/Appliances
    3. Inspection report à can negotiate repairs
  5. Upgrades & Updates
    1. Not all renovations are created equal!
      1. Bathrooms & kitchens are among the most important improvements
    2. Must ensure any improvements are made up to code!
  6. Economic Indicators
    1. Employment
    2. Wages
    3. Inflation
  7. Interest Rates
    1. At historically low rates and a rising rate environment
2018-12-06T16:34:14+00:00December 6th, 2018|Categories: Homeownership, Residential|0 Comments