What are the five most important factors that affect the value of a home?
- Current location: Home value is influenced by a home’s location, depending on the neighborhood, municipality, values of surrounding homes, and even school district.
- Future location: Although many sellers focus on current location, it’s critical to consider the future location. Think about what’s trending, any new developments, and property taxes in a prospective neighborhood.
- Market timing: The state of the economy, interest rates, and other market trends will dramatically affect home value.
- Zoning changes: If you’re located in a residential neighborhood, this might not impact you as much. However, if you’re in a metropolitan or downtown area, it’s important to keep an eye on zoning, especially if changes are occurring in surrounding properties.
- Condition: Your home needs to be maintained to be in fair condition. The three most important rooms in your home include the kitchen, master bedroom, and master bathroom. Other bathrooms are important as well. Don’t overlook condition.
If you’re thinking about buying or selling a home in Southcentral Pennsylvania, give me a call or send me an email. I’d be happy to answer any real estate questions you might have!