Selling Your Property: 3 Comparisons To Look At Between Your Property And Similar Listings Nearby
The best time to sell a house is quickly approaching. Between May 1 and May 15, homes on the real estate market sold on average 18.5 days faster and 1% more than the listing price. If you're considering the option of listing your house at that time, it's important to know where your house stands on the real estate market in comparison to similar listings nearby. You can take a look at the other listings in your neighborhood online. Compare these 3 features between current listings and properties that have already sold to get a good idea of how to price your home.
The Size of the Property
The value of your property is dependent on its size. You should look at nearby listings that are of a similar size in total. However, you also need to consider how much of the property is taken up by the yard and the garden and how much is taken up by the actual house. It's also important to consider the vertical space offered by each level of the house, and the total amount of space that each house can offer. For example, although a property listed nearby may have a similar land size, your house might have a basement, whereas the other listing does not. This means that your house might be able to offer more living space to potential buyers. This will increase the property value of your place.
The Amount of Bedrooms and Bathrooms Available
Just because your house or property is big, it doesn't necessarily mean that it's worth more than nearby listings. You also need to take into consideration whether the architects made use of the space. Take a look at the number of bedrooms and bathrooms that your house can offer in comparison to similar listings. Also, compare the size of each room. Potential buyers that have a large family will be more interested in making larger bids on houses with more bedrooms and bathrooms. In comparison, other potential buyers might be more concerned with the quality of living they'll get in each house and might want larger bedrooms and bathrooms, even if it means that they'll have fewer bedrooms and bathrooms.
The Type of Renovations and Upgrades Made
A similar and nearby listing might be worth a lot more if the homeowners have made significant renovations to the house in recent years. For example, the average 3-tab asphalt shingle roof lasts 15 to 18 years. If the roof of your house is relatively old, but the roof of a nearby listing was just replaced recently, you can bet your money that the nearby listing will get more offers and higher bids.
Conclusion
Compare the features of your home with those of homes that are listed nearby. This gives you a good idea as to how your house sizes up. If there are a lot of listings that can offer more features than your home, you can expect to get a substantial fewer amount of bids. In addition, your house is not likely to fetch as high of a price as recently sold homes. In these situations, it might be best to wait the market out.
For more information and help, contact a real estate company or visit websites like http://www.lindsaybunting.com.
