Top Factors That Influence the Worth of Your Real Estate Property

Determining the actual value of your property can be difficult. Potential buyers can vary in their perceptions of what they are willing to pay for. Here are the top factors that influence the worth of your real estate property.

Surrounding Community 

Your real estate property location is one of the biggest factors that influence the worth of your real estate property. The prices of other homes in your neighborhood can indicate what potential buyers will pay for your property. Quality schools and proximity to work and shopping opportunities can create a significant boost to overall value. 

Square Footage 

The bigger your real estate property is, the higher the value. The worth of your real estate property is typically estimated by dividing the sales prices by the total square footage. Usable space is crucial when determining square footage. Areas such as garages and unfinished basements do not add value to usable square footage. Bedrooms and bathrooms are highly valuable living spaces to boost the square footage value for your real estate property. 

Upgrades and Open Spaces

Making upgrades to your real estate property can significantly boost its overall worth. The best returns on investments when it comes to updates will depend on your location. Pools can be great for expensive homes, while kitchen remodels may be best for cheaper homes.  Adding open spaces and bonus spaces to your real estate property can add value to your real estate property. A few great bonus spaces include home offices, decks, wine cellars and hot tubs. 

Need Help Selling Your Real Estate Property?

Mistakes can easily be made when trying to calculate the worth of your real estate property. At Voila, we strive to make the home selling process as simple as possible. Our agents can assist you in taking charge and getting the best price possible. Work with the flat fee realtors at Voila in Minneapolis – St. Paul for a home selling process that benefits the seller. You call the shots! Schedule an appointment with Voila today.

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