5 Important Areas That Affect Your Home’s Resale Value

Your choice in home should always be seen as a long term investment and it’s up to you to make the wisest of decisions when it comes to determining what will give you the best value and what exactly you can change to improve that. This isn’t a one size fits all situation but there are plenty of important areas that families consider when moving into a new house based on value, including:

Neighbourhood Comps

Neighbourhood comps are comparable homes that would give you an idea of the selling price of similar homes right in your own neighbourhood! While personal factors of your house also play a role, the most common way of getting an idea of your home’s value is doing a comparative analysis like this. When finding comps, make sure you look for houses that have recently sold and have the most similar features to you in terms of home type, number of rooms, year in which it was built etc.


Location undeniably plays a large role in determining your house’s value. Needless to say that a home a few miles out is less in value than one that is in the central hub of things.  What directly factors in this whole location aspect is how close you are to schools, potential employment and shopping facilities- and of course having direct access to public transport is a clear must.  This is because when you put yourself in the shoes of a buyer, you immediately want to think about how far away you are from your job, the grocery market or your kid’s school.


Next up is the size of your home. It’s important to remember that there is a distinction between living space and unusable space. For example, generally garages, the basement and attic etc. tend to not be considered living spaces and as such majority of your home’s value will fall upon how many bedrooms and bathrooms you have- according to trends this is where high value lies.


It goes without saying that if you make the right kind of investments in your home, you’ll be drastically increasing its value. The most prominent cases of renovation often involves the kitchen, but don’t forget that your exterior also plays a major role in both the integrity and worth of your house. So make sure to take good care of your garden and look at hiring professionals that will be able to provide safe cladding solutions for your residential home.


Newer homes would generally have a higher value than their older counterparts and this is because their electrical systems, plumbing, appliances etc. are of a newer, and therefore, sturdier model. This cuts down on the adjustments that the homeowner would have to make- either before moving in or years down the line.

If you’re looking at selling your house or investing in a house for this purpose, make sure to keep these aspects in mind so you have a good idea of your house’s worth and get the best out of your deal!




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