Appraising a home’s value is one of the most important steps of the real estate selling and buying process. The right price can make the deal, while the wrong one can break it. There are several factors that are taken into consideration when determining the worth of Redding houses for sale. Thinking about each of these may make it easier for a homeowner to come up with a reasonable selling price for their property when it comes time to put it on the market.
Location, location, location is still at the top of the list when it comes to establishing a property’s value. This is because buyers often center their house search based on a specific area of the city and the neighborhood that is most desirable to them. Higher-priced homes are often in a good school district, have easy access to freeways, highways or public transportation, is situated close to dining, shopping and entertainment and is nowhere near unappealing elements such as vacant lots, landfills, sewage plants or train tracks. The crime rate and value of other homes in the neighborhood will also weigh in.
First impressions are critical when selling a home, and that’s what curb appeal is all about. A seller can’t expect to get a large amount for a property that doesn’t draw a buyer in when they pull up to take a look at it. Making sure the landscaping is spruced up, the outside is power washed and there isn’t clutter all over the front yard can go a long way in adding value to a home in the eyes of a potential buyer.
Homeowners always question the significance of maintenance, repairs and renovations before selling. Even the oldest of houses can still be in great condition if it has been well-maintained over the years and will rank higher in value than a newer house with inferior construction features or that hasn’t been well-cared for. There are a few improvements that almost always increase a selling price, including kitchen upgrades, bathroom remodels and roofing repairs, while the value of other improvements generally depend on individual buyers and their specific tastes.
In this day and age when going green is becoming such a popular trend, houses for sale that feature energy-efficient appliances are seeing an increase in their worth. This can include kitchen appliances with an Energy Star rating, solar panels, programmable thermostats, etc.
Real Estate Market
The current state of the local real estate market will also make a big difference in the value of a home. A seller’s market allows for prices to rise since there are fewer houses for sale to compete with and more buyers looking to make an offer.
The best way to ensure a seller sets a fair price for everyone involved in the transaction is to work with an experienced real estate agent who will compare other houses for sale in the Redding area and evaluate additional factors to come up with a realistic market value.