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6 Factors That Influence Your Home’s Resale Value

 

Resale value

Before selling your Randallstown home, check out what could affect the resale value of your home!

You just bought your very first home in Randallstown, Maryland not too long ago when suddenly you receive the opportunity of a lifetime! You’ve received a job offer from a fortune 500 company that is just too good to pass up. So now you have to sell your home in the next 30 days. Since you bought your home, the market has seen a lot of ups and downs. So how much can you expect in resale value? Well, check out some of the factors that could influence your home’s resale value.

Location, Location, Location

When you think about how location matters to resale value, you have to think about what is around the location, not just the address. You have to think about the price of recent transactions in the area, the quality of the schools, and if the area has a strong sense of community. Today, people are looking for family oriented communities with good schools and shopping nearby for convenience. Don’t underestimate the power of location!

Size and Layout

People used to flock to the large houses with plenty of bedrooms and space. But with people working more and families committing time to extra-curricular activities, no one has time to constantly clean their 3,000 square foot house. So now that people aren’t looking for a mini-mansion, they are looking at layouts more than space. One of the key factors in layouts is an open-concept design, which looks much more spacious then a labyrinth of rooms. While bedrooms do affect price, think again before dividing a larger bedroom into two. Buyers are looking for multiple spacious bedrooms, not many smaller ones.

Age, Condition, and Upgrades

While buyers love the idea of a historic home, they also want their new home to be nicely kept. Both historic and new homes are typically worth more than homes built in the middle. The condition also plays a factor in the age of a house. People are willing to pay more for a house that has been well-kept and that is move-in ready than they would for a house that needs work to be done. But this doesn’t mean you should overhaul your 1900s historic home into something ultra-modern. Before updating, take a look at your competition. If you notice all of the homes in the area have gourmet kitchens, update yours to stay with the competition. When updating any home, stick with updating the kitchen and bathrooms to get most of your money back.

There are many different things that affect your home’s resale value. But with the right real estate agent and upgrades, your Randallstown home will sell for a great price!

Selling Your Randallstown Home with Simply Referable

The small team of realtors at Simply Referable is deeply focused on creating a memorable selling experience for you and your family. Each of our team members has an area of expertise, and we strive to form lasting bonds with each of our clients. We want to be your go-to realtors every time you or a friend wants to make a change. With local experience, our realtors can help you choose a house that is just the right fit for your family, now and forever. Contact us online or give us a call at 410-983-9045.