06 Oct Determining the Market Value of Your Home
Determining the Market Value of Your Home
If you were to put your home up for sale tomorrow, how would you determine the market value of your home and what it would likely sell for? and how do you get the most dollars?
Your home’s probable selling price is influenced by the following factors:
- The type and style of your home.
- The size of your home. Knowing its approximate square footage, finished above grade (upper floors) space and below grade (lower level/basement).
- The condition of your home. (Is it “move in” ready?)
- Have major items (roof, furnace, windows, kitchen, baths, appliances, etc.) been updated?
- How well your home shows (Is it staged?)
- The desirability of the neighbourhood and your home’s location.
- Density of the neighborhood
- Size of the lot
- Exterior landscaping, fencing and curb appeal
- Recent selling prices of similar homes in the area.
- The current demand for a home like yours.
All these factors, especially recently sold homes in your neighborhood, need to be considered in order to determine the market value of your home and the price range within which your property will likely sell.
Why is this information important? If you plan on selling soon, the benefits of knowing the probable selling price allow you to consider how to price the home and what a reasonable offer would be. But even if your plans to move are far down the road, it’s still a good idea to know what your home is worth today. That information enables you to plan ahead and make better decisions for your next home purchase, whether you need to consider selling and buying a home at the same time, budgeting and timing of your move.
As experienced Kanata Realtors®and Ottawa Realtors® we would be happy to prepare a home evaluation for you and make a plan to help you get ready for market, whether for next month or next year. Helping you prioritize the items that will have the biggest impact on potential buyers and dollars obtained is our specialty. We also have contacts of professionals, i.e. painters, handyman, flooring, to assist you. We have been successfully staging homes for years, whether a small condo, single family home or larger property. Many of our clients have asked us to stage their new home!
Have a question about the market, your home or houses for sale in Kanata or Ottawa, please feel free to Contact us