Increase Your Home Value, 5 Tips
Determining the value of your home, whether you’re planning to sell or simply curious, involves considering various factors. Location, size, age, condition, and market conditions are some of the primary factors. However, there are also some unusual factors that can impact your home’s value.
Exploring Odd Factors That Influence Home Value
Proximity to a Starbucks: Surprisingly, living within a quarter-mile of a Starbucks can significantly boost your home’s value. According to a study by Zillow, homes near Starbucks locations experienced a remarkable 96% increase in value between 1997 and 2013.
Street Name: Believe it or not, the name of the street where your home is situated can influence its value. Research by Trulia suggests that homes located on streets with names like “Boulevard,” “Place,” and “Avenue” tend to have higher values than those on streets with names like “Street,” “Road,” and “Drive.”
House Color: The color of your home’s exterior can also impact its value. Zillow’s research indicates that homes painted in shades of navy blue, dark gray, and charcoal tend to sell for more than those painted in other colors.
Presence of Trees: Trees on your property can add value by enhancing curb appeal and conserving energy. The University of Washington found that homes with trees sold for an average of $7,130 more than homes without trees.
Effect of Local Noise: The presence of noise pollution can negatively affect your home’s value. Properties located near busy roads, airports, or train tracks may be worth less than homes situated in quieter areas.
While these factors may not be the primary considerations when determining your home’s value, it’s essential to keep them in mind when buying or selling property.
Determining Home Value: Better Methods
One method to estimate your home’s value is to use online real estate valuation tools that leverage recent home sales data in your area. However, it’s important to note that these estimates may not be entirely accurate and should only serve as a starting point.
Hiring a professional appraiser is another option. An appraiser will thoroughly inspect your property and evaluate factors such as condition, age, quality of features, and location. Although appraisals can be more expensive than online tools, they provide a more precise estimate of your home’s value.
You can also review recent home sales in your area to compare your home’s value with similar properties. However, keep in mind that your property may have unique features that make it more or less valuable than others.
Ultimately, the value of your home depends on what someone is willing to pay for it. The most reliable way to determine its worth is by consulting an experienced real estate agent specializing in your area. They can provide a comprehensive analysis based on location, features, and market conditions.
In summary, understanding the true value of your home is crucial for financial planning. By researching the market and considering your property’s features, you can estimate its worth realistically. Remember that location, amenities, and market trends can also influence your home’s value over time. Seeking the guidance of a seasoned real estate agent or appraiser is an excellent way to obtain a professional opinion on your home’s worth.
Summary of Factors Influencing Home Value:
- Proximity to popular establishments or amenities.
- Street name.
- House color (keeping it appealing but basic).
- Landscaping, particularly the presence of trees.
- Effect of local noise pollution.
Determining the value of your home requires a holistic approach, considering these factors alongside traditional elements.
Contact Me @ Charles Marshall @ Ellison Realty
I look forward to speaking with you!
To make an informed decision about selling your home, several factors must be considered. These include the current market conditions, your personal situation, your home’s condition, and working with an experienced real estate agent.
However, if your goal is to sell your home quickly and for the best price, there are some additional steps you can take.
SCHEDULE A CALL WITH ME:
Are you a Property Buyer Or Seller?
Getting Ready to Buy or Sell?
Read 9 more articles that will help you.
BLOG ARTICLE:
Thinking About Selling Your Home? Here are 7 Things to Consider.
SCHEDULE A CALL WITH ME TO DETERMINE YOUR HOME VALUE
Online Resources for HOME VALUE Estimates:
Or Better Yet… Visit my Home Valuation Page
My Blog Content was inspired by Blog Posts from MMT Media Florida
BLOG ARTICLE:
Thinking About Selling Your Home? Here are 7 Things to Consider.
SCHEDULE A CALL WITH ME TO DETERMINE YOUR HOME VALUE
Online Resources for HOME VALUE Estimates:
Or Better Yet… Visit my Home Valuation Page
My Blog Content was inspired by Blog Posts from MMT Media Florida
