Every home that you come across will have a different value one way or another. There are many aspects that go into it, but a property value estimator may be able to help you in understanding the pricing of homes. Here are a few extra tips to know when wondering why every home has a different value.
1. Different Locations
One of the major factors that determines your home’s value is the location that it is present in.
Some families may weigh location factors like schools and jobs. This means that housing in those areas will be of more value for those clients. Where you live and what your hobbies are is a huge indicator of price. People want to live where they feel most comfortable, so homes in different locations will appeal to different people. This means that the price of the homes will be different based on location.
2. Home Size
Home size and storage will make a world of a difference for the price. Typically larger homes that offer more space will go for more money on the market, but there are exceptions to all scenarios.
Price per square foot is what determines many homes prices on the market. The larger the home, the more money it will go for on the housing market. Again, location will cause the price per square foot to vary, one place may have a $100 price per square foot, while another will have a $1,000 price per square foot.
Baths and beds are generally one of the major factors that will determine price in your home. So, the more beds and baths that your home has will allow your home to be priced for more money on the market.
3. Age and Condition
Age and condition of your home is probably the most important factor that determines the price of homes.
You can have a home with loads of square feet and a great location, but if the home isn’t kept up with, then the price will reflect the condition. Also, outdated homes with many features built in the 1900s may go for less on the market because they aren’t equipped with all the features that many homes that are built today have.
To Sum Up!
Housing prices will always be different, but as long as the home is in good condition and kept up with, the price will always reflect it. People just want a good home and a well-maintained home will go a long way.