• Home
  • Personal Finance
  • Investing
  • Business
  • Career
  • Consumer
  • Debt
  • Lifestyle
  • Retirement
  • Taxes

Personal Finance News

Latest News About Personal Finance

  • Blogger Net Worths
  • Top Personal Finance Blogs
  • Blogroll

How to Determine Your Home’s Value

March 26, 2017 Leave a Comment

You may think that the sale price is the only factor when you are looking at comparable properties and trying to set a price for your home by using competitive market analysis. But it’s actually a bit more complicated than just looking at the price on Zillow.

So how does one come up with that price when putting the property on the market? Here are five things to determine your home’s value that you might not be aware of.

1. New Construction Nearby

Due to low prices for lots and varying prices in home building materials, new homes can actually be cheaper and cost less per square foot than existing homes. If there is a lot of new construction nearby, that can affect the price for your own listing for your house.

2. Renovation

Recently renovated homes typically sell for more than homes that have not been updated in a while. If you have recently upgraded your home–especially sought after upgrades like the kitchen or master bath–your home should be priced appropriately.

3. Developable Lots

Not all lots are created equal. Even if the square acreage is the same, a lot that is easily developable will get a better price than a hilly or rocky lot that needs a lot of preparation.

4. Listing Price vs. Sale Price

Whether sellers actually get their asking price depends greatly on the market. When you are pricing your house, it is important to look at sales prices, not just listing prices. The listing price does not always accurately reflect what a home will sell for.

5. Location

Nearby amenities, safety, schools, and noise levels can vary greatly within a neighborhood. Homes in more desirable parts of the neighborhood will sell for a higher price, all else being equal.

Related

Leave a Comment Cancel reply

Must Read

  • What's the Recommended Temperature for Vacant Home in Winter?
  • How to Refinance a Paid Off Car
  • How to Cash Out Pension Plan Early
  • Peter Adeney, the Man behind Mr. Money Mustache, Earns $400,000 a Year on His Blog
  • The Best Day of the Week to Buy Mutual Funds
  • John Bogle Net Worth
  • 36% Earning $100,000 or More Living Paycheck to Paycheck
  • Dating Site Matches Users By Credit Score
  • Amazon Cash: Now You Can Pay With Cash on Amazon
  • How to Reach a Live Person at IRS to Resolve Tax Problems

Recent Posts

  • 61% Now Living Paycheck to Paycheck
  • 36% Earning $100,000 or More Living Paycheck to Paycheck
  • Two-Thirds of Americans Live Paycheck to Paycheck
  • The Hit to Your Pocketbook From Higher Gasoline Prices: $2,000 a Year
  • Uber Now Lets You See How Many One-Star Ratings You Received From Drivers
  • Survey: 7 In 10 Americans Living Paycheck To Paycheck
  • Fed May Issue Digital Currency
  • Best Pen for Your Money

Connect With Us

  • Facebook
  • Twitter
Home · About · Terms · Privacy · Contact · Copyright © 2022 · Personal Finance News