If you are trying to sell a house, or even buy one, knowing what kind of factors may influence its asking price is important. For home buyers, it helps you set a realistic asking price and gives you selling points that your Berkshire Hathaway HomeServices Florida Realty sale professional will use to show prospective home buyers why your home is worth buying.
When it comes to home buyers, knowing how the home you purchase will more than likely appreciate in value is key in determining which real estate property you may want to commit to and buy. Whether it’s Boca Raton luxury homes or Coral Springs homes for sale, home buyers should plan ahead and understand how the value of their home may be affected in the future.
Factors influencing a home’s asking price can change over time, and many are truly outside of your immediate control. But they are still important to consider when making one of the largest financial commitments you probably will ever make in your life.
Following are four of the most influential factors that real estate experts point out as having the biggest impacts on a home’s asking price.
Schools District
Even when similar homes are separated from each other by just a school boundary line — half a mile to three-quarters of a mile apart — the price gaps can be significant.
Homes in the top school districts often demand a higher asking price. Some families base their entire housing search on the quality of the school when looking at homes for sale. Buyers and sellers in top school districts will often see median home prices range from 10 to 28 percent higher than homes in lesser performing districts.
Studies on student performance finds that nearby affordable housing in stable neighborhoods is a key component to a student’s success, and parent’s wanting to help their child succeed often take note when it comes time to purchase a home.
Community
Real estate professionals report buyers often request information on the local community to find out if a particular area is worth making a long-term commitment. Activities, stores, and parks are a major priority as is the walkability factor, which many home buyers consider significant in a higher quality of life.
Many Americans want to rely less on their automobiles and more on walking, biking, and public transportation as a means to get around their local area. Increasingly, homebuyers are requesting to look at homes in communities that don’t require a car in order for them to get around.
Property Taxes
Always a big factor for home buyers are the property taxes they will be paying on homes for sale. Of course, if the demand for good schools, community supported events, hospitals, libraries, and similar quality of life factors are of importance, then home buyers should know that their property taxes will be substantial.
Home Size and Layout
A home’s asking price is definitely dependent upon how large a home is and how well it is laid out. It makes sense that the more square footage you get, the more you can expect to pay in most instances. The relationship between the size and the number of rooms and layout of the floor plan also can affect how much people are willing to pay for a home. Conveniences and amenities are valuable to home buyers, so home sellers can expect to reign in a higher price for upgrades, updates, and bonus additions like swimming pools and enclosed lanais.
