- Nov. 14, 2022
-- Per Kim Bagnell Thaler, "Top Producing Real Estate agent for Sotheby's International in Islamorada Florida."
The most influential factors that contribute to home pricing are pretty obvious. However, home sellers still often overlook or neglect some of these essential elements. In order to price a home correctly and sell it quickly, you need to know what most accounts for its value. Here are the five biggest factors that contribute to home pricing:
- Location. Let's start with the obvious cliche, but also an irrefutable truth. Everyone has heard the old joke that real estate is all about three things, location, location, location. While it's become somewhat of a punchline, it's nevertheless one of the single most important factors that determine a home's value. Here's a great example of why that is so. Take an average three-bedroom, two-bath house from an ordinary neighborhood and place it on a beach, and its value skyrockets. Location matters, no matter where the home is located.
- Neighborhood comparables. Here's another factor that people tend to get wrong without the help of a professional and that is choosing the right comparable properties. It is essential to select properties that are most similar to your house. Otherwise, you're arriving at a price based on a false premise. In other words, if you don't choose the right comparables, you will not price your own property correctly, leading to all sorts of problems.
- Home size, age, and condition. Other characteristics that help determine a home's market value are its livable square footage, the age of the property, and its overall condition. Even if it's an older home but in good condition and decently sized, that will bode well for the seller.
- Upgrades and updates. It's also essential to place a value on the promotions and updates you've done over the time that you've owned the property because they will also contribute to its value.
- Amenities. Finally, amenities are quite crucial to buyers and they do have an influence on the overall value of the home, so it's important to factor these into the listing price.
Kim Bagnell Thaler is a pioneer among Florida Keys realtors. She is regarded as one of the most influential realtors in the Middle and Upper Keys, providing expert & professional real estate services. With her vast knowledge, 20 years of experience, and commitment to the highest ethical standards, Kim remains a standout among other Florida Keys Real Estate Agents. For help finding Florida Keys Real Estate, please see http://www.kimbagnell.com