Your home is most likely your largest financial investment. So regardless of whether you are in your home for the long run or are getting ready to put it on the market in the near future, like any investment, you should take steps to maintain and increase its value.
The Truth about the value of your home
There are many factors that go into determining your home value. The lot size, living space and number of bedrooms and bathrooms plays a large role. Larger homes with more bedrooms and bathrooms generally increase the home value. There are a few other features that help determine the value of your home. A magnificent view, a private lot or cul de sac, or close to public transportation. All of these are aspects that can add to the value.
Schools can greatly affect value, and the age and condition of the home are also factors. Another factor in home value is the current number
of comparable listings on the market. The fewer the listings, the more valuable your home, particularly if it’s in a desirable location or has amenities hard to find in your area. Supply and demand can make your home worth more, allowing you to set a higher price when you sell. Conversely, if there are many homes similar to yours on the market, that can lower the value, especially if there aren’t many buyers.