How to Get an Idea of What Your Home is Worth
Compiled by guest “vloggers” Allison Parks and military veteran Kimberly McAleenan of Conscious Real Estate, this is the seventh installment of a monthly blog series for 2018, providing tips to the military/veteran home buyer. Contact Allison and Kimberly via the Conscious Real Estate website for additional information.
If you’re at the stage where you need to value your home, how do you exactly go about doing that? If you have lived there for some time, you may have improved the property or the area around you may have changed (hello Denver real estate prices). So, it’s important to get the best price and also accommodate for negotiations which are sure to come later.
What Factors Into What Your Home Is Worth?
There are a myriad of factors and each home is different. That’s why it does take a human eye to really give you a good number (get a good real estate agent). However, here are some general points when considering the sale price and value of your home:
First of all, style. Some homes have a unique style that can be dated to a certain era. This can be a good thing or bad thing depending on modern improvements and maintenance of the property. Also, how many bedrooms and bathrooms is usually a factor into a sale, so if additions have been put on, or there is a finished basement for example, that can certainly add value to your home. Additionally, details like privacy fences, additional garages, or other amenities increase your home’s value. Finally, the location can affect the sale price enormously if your area has gotten more popular.
What Factors Should You Not Consider Into What Your Home Is Worth?
Try not to go off of what your neighbor’s home sold for. So many interior, structural, and exterior facets go into the final calculations. It’s easy to want to compare, but before you have a professional visit and get the official “comps” for your neighborhood (i.e. what other homes similar to yours have sold for near you), it’s hard to get an exact figure.
What you can and definitely should do, however, is make any repairs which you are getting your home ready to sell. And, you might want to do some landscaping if that needs some love. Your curb appeal is something people pay attention to. Also, starting to de-clutter now can really help you in the long run. When you’re staging later, it helps to keep your interiors spacious so your buyer can imagine their personal effects and dream of a life in a new home.
For more tips, we like to recommend our friends at Conscious Real Estate here in Denver. They donate to charity with every sale and have experience working with military at all levels in finding a home and going through the VA loan process. Click here to get in touch.