Sell
Why It's Worth What It's Worth: Factors Affecting Home Value
Most of us know the mantra that answers," What are the top three factors that determine a home's value?" If you responded "Location, Location, Location" you're right. But what makes for a good location? And what is it about a particular home that gives it value?
Part of the answer is subjective – one person's ideal feature can be another person's deal breaker. But in general there are factors that affect a home's value and attract, or detract from its appeal to buyers.
Virtually every buyer will be a seller one day, so it pays for both potential buyers and sellers to pay attention to the characteristics that help determine how you present or future home will be valued relative to similar properties in your neighborhood:
Home Characteristics:
- Area (square feet)
- Structural condition
- Total number of rooms
- Number of bathrooms
- Number of bedrooms
- Fireplace(s)
- Central air
- Full, dry basement
- Size of garage
- Energy efficiency, utility costs
- Landscaping, curb appeal
Community Characteristics:
- Quiet, safe, clean, attractive neighborhood
- Overall positive public perception of the community
- Adequate fire and police protection
- Quality public schools
- Libraries and other cultural institutions
- Proximity to shopping, restaurants, recreation
- Access to public transportation
- Well maintained infrastructure; roads, parks and other public recreation facilities
- History of solid property values
- Planned changes to zoning, or proposed development projects that could significantly alter the character of the community
Perhaps the main reason many people choose a particular home is that it simply feels like home. Smart buyers and sellers also keep in mind that a home also represents a big investment in time and money.
Before you decide to buy or sell, talk to an ERA® Affiliated Real Estate professional about a comparative market analysis. We've been in the business of fulfilling the dream of homeownership since 1972, and with access to over three million listings on ERA.com, we bring the world to your doorstep.
The ERA® Commitment to Service
is our promise to sellers, in writing, to make every effort to sell your house. As part of the
Commitment to Service ERA Members agree to:
- Prepare a good-faith estimate of your home
- Conduct a preliminary qualification of prospective buyers
- Assist in arranging affordable financing
- Make a comparative study of your home
- Offer application assistance to qualified buyers
- Contact you regularly to report the selling progress of your home
- Review your competitive selling position every 30 days
- Where available, offer a one-year Home Protection Plan for ERA to the buyer of your home
- Provide information on Seller Protection Plan coverage
- Photograph your home for marketing and promotional use
- Submit a photo of your home for Internet listing
- Provide you with a national referral service to assist you in finding a home in another community while your home is being sold
- The Commitment to Service is a complete guarantee that we will make every effort to sell your house. It is a real demonstration of our statement that ERA professionals are "Always There For You.™". Contact an ERA Office today and learn more about our Commitment to Service and many other reasons for listing your home with ERA.
