There are many factors that go into the value of your home. Of course the condition of your home will be one of the first things to look at. Keeping the home updated and maintained will help a home hold its value. Also, any upgrades that you have done can be factored in. While these may not add actual value to your home, it will help place your home against the comparable sales in the neighborhood.
One of the biggest misconceptions that a seller will have is how much they paid for the house and what it should be worth now. Home values are based on what the current market is. You may have paid $300,000 for the house 5 years ago, but if the current market is now saying the house is worth $250,000, that is all you will be able to get. Market value dictates the price – so make sure that you have a great agent on your side who can give you the most updated market conditions. Here at Chantel Ray Real Estate, we can prepare for you a Comparative Market Analysis (CMA) right away to give you an idea of what your home is worth.