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What Determines a Home's Value


It’s never too early to prepare for the sale of your home. By knowing what determines a home’s value, it can give you perspective on your property, and even how to properly maintain its condition and increase its value. The following elements are widely considered to be the overarching factors that can affect the worth of your home.

Location
Possibly the most vital element that can affect the value of your home is the location. By location, we don’t just mean where your home is situated on the street; this applies to the street, the neighbors, the neighborhood, schools, and local economy. Doing research into the condition and outlook of your local area can be crucial – buyers will be looking at the big picture and the level of attraction to your home will be influenced by the quality of the surroundings.

Exterior
The look of your home makes the first impression, and it is important to hold the buyer’s attention. However, many homeowners forget that the exterior is not just about doors, roofs, and windows, but extends to your driveway, lawn, and back yard. By maintaining the quality of the exteriors of your home, you can increase your home’s value.

Interior
Maintaining and improving the interiors of your home can make the most difference to your home’s worth. Updating your home not only improves your own quality of life, but also attracts buyers. Pay particular attention to the bathroom and kitchen, which are always the focus of potential buyers.

Learn more about what determines a home’s value from a professional source such as your Realtor.

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