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What Factors Influence My Home’s Value?
- Neighborhood Comparable Homes
- Past/Recent sale prices
- The local market
- Public transportation and rail
- Shopping & entertainment
- Home Size
- Square Footage
- Usable Space
- garage, attics, and unfinished basements don’t count!
- Number of bedrooms/bathrooms
- Age & Condition
- Newer homes typically appraise for higher
- Inspection report à can negotiate repairs
- Upgrades & Updates
- Not all renovations are created equal!
- Bathrooms & kitchens are among the most important improvements
- Must ensure any improvements are made up to code!
- Economic Indicators
- Interest Rates
- At historically low rates and a rising rate environment
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