When selling a house, you have likely heard that real estate tends to revolve around one central rule: location, location, location. While location certainly plays a role in a buyer’s decision to purchase a home, it ultimately influences the price as well. A home which does not seem that expensive could cost a small fortune if placed in a prominent neighborhood or city district. When setting an asking price for your home, location will be one of the most important factors you will have to take into account. To ensure you go about assessing your location appropriately, below are helpful tips to follow when looking to set a reasonable asking price.
Homes in an Urban Areas
If your home is settled in an urban area, it is very likely that your asking price should be placed higher than similar homes outside of the city. This is especially true if your home is located near a popular downtown district. While your individual city will ultimately play the largest role in your home’s value, it is important to apply a considerable increase to your potential asking price due to your home’s urban setting when selling your home.
Homes in Rural Areas
While there are certainly many great homes in rural areas, these areas will, unfortunately, lower your asking price when compared to other homes. Given that many people tend to work in urban areas, the commute from rural based homes is usually a factor which comes into play for potential buyers. While the asking price of a rural based home is lower than those in an urban area, this does not mean these homes are any less popular to potential buyers. In fact, many buyers in the present day tend to look for rural homes because property taxes and other rates are typically much lower in these areas.
Homes On or Near the Water
If you have a home which sits on or near the water, especially the ocean, your home will be priced much higher than homes in urban or rural areas. While homes on or near the ocean are typically priced the highest, homes which are settled near a lake or river tend to be pricey as well. For example, consider any Florida home which you have seen with a canal connected to the backyard. While these canals are simply channels to a larger body of water, a three-bedroom home in this location can cost more than an eight-bedroom home located in a rural area! Proximity to water must always be a considered factor when you look to create a reasonable asking price for your home.
While the general location of your home will play the largest role in its asking price, it is also important to note other slight factors. Popular landmarks, excellent school districts, and the overall quality of your neighborhood will also add to or remove value from your potential asking price.
Real Estate’s Golden Rule
Since “location, location, location” is the golden rule of real estate, you must be proactive when assessing your home’s value in terms of its proximity to urban areas, rural areas, or bodies of water. By knowing the value of your home in terms of its location, you stand the best chance of walking away an experienced and satisfied seller!
Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-701-2030 or visit https://josephlewkowicz.com/