Factors that Influence the Value of Your Home

Factors that Influence the Value of Your Home

If you’re like most people, then your home is probably the most expensive thing you’ll ever own. Have you ever stopped to wonder what factors go into determining its value? If you are planning to sell your home at any point in the future, understanding these influences will be helpful to you. These are some of the factors that affect your home’s value


One of the first things a potential buyer will want to know is how old your home is. The older a building is, after all, the more likely it is to need work. If a home has not been kept up, then that may have a damaging impact on its value. On the other hand, a home that was built within the last decade is likely to have all-new appliances and fixtures, which will boost its value. 


As you might guess, the location of your home plays a significant role in determining how valuable it is. For example, if your home is in an area with highly rated schools, then that might affect its value. Homes that are conveniently close to major highways, shopping and entertainment opportunities, and even scenic walking paths may also be more valuable than other homes. 


The size of your home also has an impact on its value. The more livable space your home has, the more valuable it is likely to be. To take an obvious example, homes with three bedrooms tend to sell for more than homes with one bedroom. Keep in mind that attics and garages are usually not included when determining how much livable space a home has. 

If you are planning to buy or sell a home in Steamboat Springs, CO, then it’s time to call Coldwell Banker Distinctive Properties. Their experienced real estate team will be happy to help you find the right home—or the right buyer for your home. If you have any questions, you can reach them by calling (970) 879-8814.