Contrary to popular belief, the holidays can be a great time to sell your home. Buyers are more serious about finding a home in a specific time frame, and fewer homes are typically on the market, creating a beneficial demand for home sellers. Even with all these advantages, it can be challenging to put an accurate and profitable price on your home.
In this blog, the experts at Southern Homes Collective discuss factors that impact home value and how to discover your home’s worth. This holiday season, sell your home for all its value and more with these helpful tips.
How Do I Know What My Home Is Worth?
Before you begin exploring ways to find the value of your home, it can be beneficial to understand factors that impact housing prices. Some of the common factors include:
- Location: Easy access to highways, restaurants, and shops impact your home’s worth as well as crime rates, neighborhood, and city.
- Size: The total square footage, number of bedrooms and bathrooms, and yard space can all affect your home’s monetary worth.
- Condition: Your appliances, curb appeal, exterior renderings, and the overall age of the home can impact its value.
- Proximity to schools: Many families look for homes in a top school district. While you can’t control this factor, it’s something to consider as a seller.
- Current market: What is the demand for homes in your neighborhood? The market is good for sellers if there are more buyers than homes.
Use Online Value Tools
There are dozens of online home assessments on the Internet. Many companies, including Southern Homes Collective, offer free, quick estimations. These online tools, called automation valued models (AVMs), use recent sales data, tax assessments, and mathematical modeling to produce your home’s value.
AVMs can be a useful starting point, but don’t consider curb appeal, market trends, and other factors that additionally impact your home’s value. Some AVMs are more accurate than others, so choosing a reliable site is essential for a precise estimate. Additionally, the FHFA offers a calculator that evaluates the appreciation of your home, which can give you another angle on your home’s worth.
Speak with a Real Estate Agent
Many real estate agents, including those at Southern Homes Collective, can provide a comparative market analysis (CMA) to measure your home’s value. A CMA considers recent sales near you, your home’s unique features, and other data the general public doesn’t have access to—like credit monitoring analysis data. CMAs combine mathematical trends with professional advice to accurately represent your home’s monetary worth.
Many real estate agents provide a CMA and make recommendations to improve your home’s value. These recommendations can be anything from updating your landscaping to remodeling the kitchen, but they are all based on market research in your neighborhood. At little to no cost, CMAs from real estate professionals can provide you with an accurate, trustworthy estimate of your home’s value.
Research Similar Homes
Researching comparable homes in the area, also called real estate comps, is another way to determine your home’s worth. This DIY approach can be very insightful if you use good judgment. Often, researching comps is a method of finding a value range, not a specific listing price. This will provide you with a better idea of what you could list your home for (and receive from the sale), but will ultimately come down to the suggestive price point from your realtor.
To find an accurate comp, we recommend choosing three to five homes similar in size, condition, location, and upgrades. You can browse selling prices online or listing prices if only a few homes sold in your area recently. Once you find a few comparable homes, add or subtract value depending on factors. For example, if your home has less square footage than the comps, you may need to decrease the comp price to get a more accurate comparison. After a bit of adjusting, you should have a decent estimate of your home’s value.
What’s My Home Worth?
Find your home’s value with online tools, research, and expert advice. If you’re wondering what the maximum value of your home is, our team can provide home value estimations that are fast, reliable, and accurate. With years of experience, our real estate team is knowledgeable about marketing, neighborhoods, and selling trends across Williamson County. Sit back, sip hot chocolate, fill out our online form, and sell your home quickly this holiday season!
Your Real Estate Experts in Williamson County, TN
Learn more about your home’s worth today! Our experts can calculate your home’s value, so you get the best bang for your buck during the selling process. Call us at (615) 648-4880 or contact us online to sell your home in Williamson County today!