When you’re ready to dive into the local real estate market and move to a new home, it’s time to start thinking about the answer to the question, “What is my home worth?” Our real estate agents are pleased to offer our home value estimator service. Our valuation model takes into consideration a broad range of factors, including those that directly involve your home, as well as external factors like a comparative market analysis. Simply enter your information into the contact form below and a real estate agent will be in touch with you to deliver the results of the automated valuation model.
Factors That Influence the Value of Your Home
The sale prices of homes that have recently sold in your area play a major role in determining the answer to the question, “What is my home worth?” Often referred to as “comps,” comparable market prices consider homes that have sold recently within a short distance from your house. The higher those sale prices are, the higher yours is likely to be.
Newer homes tend to sell for a higher price than older homes. This is because they are less likely to need major repairs (such as a new roof) and because they tend to reflect modern trends in home floorplans. However, a very well-maintained older home can also sell for a great price.
Typically, the bigger the home, the higher the value. Of course, it’s still important for a large home to be well-maintained in order to command a higher price. Features also play a role in determining the value. For instance, if you have a finished basement, an in-ground pool, and a spacious home office, you can generally expect your home to have a higher value.
Beyond comps, there are other aspects of your neighborhood that influence your home’s value. Homes in excellent school districts tend to command a higher price. Nearby amenities, proximity to major transportation hubs, and local crime rates are other considerations.
Beyond asking, “What is my home worth?” you’re likely to have more questions about home buying and selling. Here are some of the most commonly asked questions our real estate agents hear.
It depends. If your home is in need of any obvious repairs, such as a new roof, then yes, you’ll want to schedule those renovations soon. Home buyers often ask for defects to be fixed as a condition of the sale. If your home is well-maintained and not in need of any obvious repairs, then it may be worth it to invest in a few upgrades. For instance, consider whether the kitchen is outdated. Before planning major home renovations, however, it’s a good idea to talk to our real estate agents. We can help you understand what buyers are currently looking for.
We always advise clients to embrace full disclosure. Not only is it the ethical thing to do, but it helps home sellers avoid potential problems down the road. If you’re aware of any defects with your home, you should plan on disclosing them to potential home buyers.
Definitely! Staging a home can increase the dollar value of offers by up to 5% compared to similar homes.
Excelsior Associates has been serving our valued clients in the greater Tucson area since 1995. We bring unparalleled expertise and in-depth local knowledge to every transaction, along with our enduring commitment to excellent service. Contact us today at (520) 329-2040 and let us know how we can help you.