Factors That Affect Value
If you plan to purchase a home in the future, keep in mind the factors
that will most affect the value of your real estate when you decide to resell
it to someone else. Listed below are important facts that buyers consider:
LOCATION
Nothing impacts value more than location. What is the reputation of the
local municipality? How about the local school system? Another aspect of
location is the type and condition of surrounding properties. Their vale
and quality of maintenance will have a direct bearing on the value of the
property being considered. If you are looking at a single family detached
dwelling, it is most desirable to purchase a home that is completely surrounded
by similar properties of equal or greater value.
In our rural and lake resort area, this is hard to do. There is great
variety, and many areas do not have surrounding comparable properties. Most
buyers looking at Southern Hunt County and Lake Tawakoni understand this
and are mainly interested in the maintenance of surrounding properties.
Lawn equipment adequately stored and no trash in the yards and roadways
are what most buyers focus on.
Therefore, it is very important that every property owner be concerned
about the appearance of the neighborhood. Keeping the neighborhood clean
is money in the pocket of the sellers as well as building community unity.
FLOOR PLAN
Some designs sell better than others. The most common and popular floor
plan is the ranch style or one floor model. The second variety is the two
stories that usually features the living areas on the main floor and bedrooms
upstairs. However, most buyers want a bedroom and bath on the main level.
Split-level floor plans usually come in third place with the 1 ˝ floor design
taking fourth place.
FEATURES
After location and floor plan, the specific features such as number and
size of bedrooms and bathrooms are important. The master bedroom and bath
can often be the deciding factor in the desirability of one property over
another. The kitchen is also a key factor. If the existing kitchen is not
up to date and equipped with modern appliances, the expense necessary to
bring it up to today's standards could discourage potential buyers.
Large windows overlooking the lake are important assets in homes. Most
buyers wanting a lake home, especially a waterfront, want to, at least,
look at the water. Many older homes on Lake Tawakoni do not have enough
windows for viewing the lake. If this is your home, at least consider improving
the lighting and painting the interior with bright, light colored paint.
CLEANLINESS AND CONDITION
Most buyers don't want to clean up or fix up a home after they buy it.
Properties that are clean and well maintained ALWAYS sell quicker and for
more money than others.
When a home is dirty, really dirty, with cat and dog litter or with bugs
jumping out of cabinets, most buyers will never go past the front room.
Imagine bragging on someone's beautiful master bedroom and opening the door
to show their unmentionables on the floor or draped over the shower.
WOW, WHAT A REALLY GREAT FIRST IMPRESSION!
Would you want to buy a home that had odors so bad you have to go outside
to get breathable air? Smoking is another turn off for most of today's buyers.
Beside the odor, there is the residue and stain ON EVERYTHING when the sellers
are heavy smokers. You cannot mask these odors with incense or candles.
As said before, many of our homes are older and need extensive updating.
Sellers often make improvements thinking they will add value or appeal.
However, in many instances buyers do not appreciate what the sellers have
done and will replace everything. This is wasteful for all parties.
Use the advice and experience of a REALTOR® when selling your home. They
see so many buyers and are aware of current trends and will suggest things
that will help you maximize the sale of your home.
Gena Upchurch
CENTURY 21 Upchurch Real Estate
P.S. You are welcome to
email me with any questions you may have about your real estate. I will
be most happy to help you. If I don't know the answer, I will find someone
that does!
For more information please feel free to
email us.
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