5 Surprising Factors That Influence Your Home Value!
Learn The Best Way to Find Out How Much Your Home is Really Worth in Today’s Market.
Getting Ready to Sell Your Home?
If you’re thinking of selling your home or just want to know its value, you may be wondering: “How much is my home worth?” The answer to this question depends on a variety of factors, such as the location, size, age, and condition of your home, as well as the current market conditions in your area.
Surprising Factors that Influence your Home Value:
When it comes to determining the value of a home, most people think of factors such as location, size, and condition. However, there are several surprising factors that can also have an impact on a home’s value. Here are a few to consider:
- Proximity to a Starbucks: Believe it or not, being close to a Starbucks can increase the value of a home. According to a study by Zillow, homes located within a quarter-mile of a Starbucks increased in value by 96% between 1997 and 2013.
- Street Name: The name of the street a home is located on can also impact its value. A study by Trulia found that homes located on streets with names like “Boulevard,” “Place,” and “Avenue” were valued higher than those on streets with names like “Street,” “Road,” and “Drive.”
- Color: The color of a home can also affect its value. According to a study by Zillow, homes painted in shades of navy blue, dark gray, and charcoal sold for more than homes painted in other colors.
- Trees: Trees can add value to a home, both in terms of curb appeal and energy savings. A study by the University of Washington found that homes with trees on the property sold for an average of $7,130 more than homes without trees.
- Noise: Noise pollution can have a negative impact on a home’s value. Homes located near busy roads, airports, or train tracks are often worth less than homes in quieter areas.
While these factors may not be the first ones that come to mind when determining a home’s value, they can play a role in how much a home is worth. It’s important to keep them in mind when buying or selling a home.
Back To The Tried And Proven Methods…
One way to get an estimate of your home’s value is to use online real estate valuation tools. These tools use data from recent home sales in your area to generate an estimate of your home’s value. However, it’s important to keep in mind that these estimates are not always accurate and should be used as a starting point rather than a definitive answer.
Another option is to hire a professional appraiser. An appraiser will conduct a thorough inspection of your home and use various factors to determine its value, such as the condition of the home, the age and quality of the home’s features, and the location of the property. An appraisal can be more expensive than using online valuation tools, but it will provide a more accurate estimate of your home’s value.
You can also look at recent home sales in your area to get an idea of what similar homes are selling for. This can give you a ballpark estimate of your home’s value, but keep in mind that your home may have features that make it more or less valuable than other homes in your area.
Ultimately, the value of your home is what someone is willing to pay for it. The best way to get an accurate estimate of your home’s value is to consult with a real estate agent who has experience selling homes in your area. They will have the most up-to-date information on market conditions and can provide you with a comprehensive analysis of your home’s value based on its unique features and location.
CONCLUSION: Understanding the value of your home is an important aspect of financial planning. By researching the market and learning more about the features of your home, you can determine a realistic estimate of its worth. It’s also important to keep in mind that factors like location, amenities, and market trends can influence the value over time. Working with an experienced real estate agent or appraiser is another great way to get a professional opinion on your home’s worth.
HOME VALUE MATTERS!
#HOMEVALUE
Contact Us:
Team Neely | Joel & Michele Neely Realtors, to discuss your Home’s Value!!
