As a top Orange County Realtor one common question that we get asked by our clients on a regular basis is “what affects the value of a home?” and this question isn’t something that can be answered in one word since the value of a home is comprised of several factors including:
Yes, the location of a home is still one of the most important factors that affect its value but what’s even more important is where the home is specifically located.
For example: is the home located next to a freeway, near an industrial area, on a cul-de-sac, close to a public park or near desirable amenities?
You can have a great home with plenty of space but if it’s in a location that’s “less than perfect” this can make it more complicated when it comes time to sell your home.
Condition of Property
The next important part that affects a home’s value is the condition of the property.
Is the home in great shape and has many upgrades plus recent renovations? If so, this will help to only increase its value and you can sell your home with confidence. If the home is in poor condition and hasn’t been upgraded in decades you can expect this to affect your asking price because, a buyer will want you to lower the price on your home since they will have to invest money into it to make your home livable for them.
Desirability of Amenities
Last of all, but most important, the third factor that affects the value of your home is the desirability of your homes location.
What amenities make a home’s location desirable?
Good school district, awesome amenities (i.e.: pool, club house, public parks), great restaurants nearby, excellent shopping or the home is close to work for a potential buyer.
To learn more about what affects the value of a home or to view the latest Orange County homes for sale contact Fred Sed & Associates today by calling us at (949) 272-0125.