Home valuations are estimates.
If you are looking into your Pleasure Point Beach home’s worth with the intent to sell it soon, it is essential that you get the right value. As tempting as it may be to use the result of an online valuation, the best valuation will come from an experienced REALTOR® in your area.
When you enlist the assistance of the REALTOR®, the first thing he or she will do is to come up with your home’s worth. This valuation is of utmost significance since it will be the basis of your home’s listing price. Thus, it is vital that the estimate is done right and by someone who has the skills and experience to do it properly.
Coming up with your home value is not an exact science. No two REALTORS® will produce the same amount. It important to remember - valuations are just estimates. In the end, it is the buyer who gets to decide how much your home is worth.
Factors that influence your home’s value
Your REALTOR® will look at different factors to determine your Pleasure Point Beach home’s value. Here are the most critical factors which significantly influence the valuation.
- Location. Your home’s site is responsible for a large part of its appeal. Is it near a school? Is it near a major highway?
What is in that location that makes it viable to invest in it? The safety and security of location matters. So does the possible increase of commerce of the neighborhood.
All these will be taken into consideration by your REALTOR®.
- Size and appeal. The home’s square footage, lot size, architectural style, and curb appeal will all be looked at during the valuation process. Size matters. The more extensive your property is, the higher its value.
A five bedroom home is more expensive than a three bedroom home. Similarly, a .50 acre lot size has a higher worth than a 10,500 square foot lot. Even your home’s exterior features matter.
- Age and condition. Another factor which contributes to your home’s valuation is its age and consequently, its shape. Obviously, a recently constructed home will sell better than an old one. Buyers prefer newer homes because they are easier to maintain.
The condition of the house also affects the estimate. A well-maintained home will command a higher selling price than one with repair issues.
- Home improvements. The REALTOR® will also include in the valuation any improvements or upgrades you’ve done to the home.
Did you add another bedroom or bathroom? Did you upgrade the kitchen countertop? Did you get new appliances?
Did you install energy-saving fixtures? Did you replace the garage doors with steel ones? Did you install a deck?
The improvements you’ve made will count.
- Market condition. The market condition, along with location and size, are the factors you have no control over. If it’s a seller’s market, there are less Pleasure Point Beach homes for sale on the market, and there’s a large percentage of sellers. In this market, you can add up to 10% on your listing price, and your home will still sell.
If it happened to be a buyer’s market, there are more homes for sale. In this market, it is suggested you drop your listing price by at least 5% to compete with the other homes. The market condition in the area where your home is located influences the valuation.
Knowing what factors affect your Pleasure Point Beach home’s price will help you have ideas of what you can still improve in your home.
Interested in selling your home? Call me, Sandy Wallace, at 831-818-7099 for a free home valuation with no obligation to list with me.
In case you can not view this video here, please click the link below to view What's My Pleasure Point Beach Home Worth? on my YouTube channel: https://youtu.be/HZv1pTiKS_I.
