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Real Estate Trade

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THE IMPORTANCE OF KNOWING YOUR HOME’S VALUE

ByAndrew L. Yount

Oct 9, 2021

It is crucial that you understand the value of your home before you put it on the market. An accurate knowledge of the value of your home will help you plan for the selling process as well as the potential earnings after the sale. You can also learn about the factors that affect the value of your home so you can make steps to increase its value before selling.

What you need to know about your home’s value

You may be able to increase the value of your home by knowing its current value before you put it up for sale. If comparable properties in your area have energy-efficient windows or new flooring, you may be able to increase the asking price by upgrading your home’s features.

Knowing the value of your home will give you an idea of what you can expect from the sale. This information is important for financial planning, especially if the proceeds are used to buy a new property.

Factors that Influence the Value of a House

There are many factors that impact the home’s value, including:

* Comparable homes

Comparable homes in your area are a key component in determining the value of your house. To estimate the value of your house, you can use information from nearby homes that have sold recently. Comparable homes are a key source of information for real estate agents to help them determine the value of your home. However, similar homes can be quite different to yours in certain ways. This information is needed to help you determine the value of your home.

* Size

The price per square foot is a key factor in determining home values. The average price per square foot buyers will pay in different areas can vary greatly.

It is important to consider the usable space within your home beyond the simple question of square footage. Unfinished basements, attics, or garages are not considered usable space. These areas can increase the square footage of your home, but they won’t have an impact on its value.

This post was written by Josh Dotoli! Josh is the owner of Josh Dotoli Group which is a laser-focused real estate team at Compass comprised of industry experts selling Fort Lauderdale’s best neighborhoods. This dynamic group is one of the top-selling real estate teams in South Florida with over $94 million in sales in the past 12 months alone. Looking for Seven Isles Homes for sale, we are the real estate team for you!

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