Selling your house can be a huge headache--especially when you're selling it in today's buyer's real estate market. One of the most challenging aspects to deal with is determining your home's value. When it comes to fixing a fair price, homeowners always shoot high. After all, you love your house and you know how much work you've put into it. Won't someone else appreciate it as much as you do?
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The short answer is no. An experienced real estate agent will take the emotional factor out of the equation and help you come up with a realistic market value for your house. But if you want to sell your house yourself without a realtor--or you just want to be prepared for the number they advise--here are five factors that can heavily skew the asking price of your home.
1. Location
We've all heard how important "location, location, location" is, and with good reason. A great house in a bad location can knock as much as 50 percent off the value. If you have the nicest, most expensive house in your average neighborhood, then the value is also going to be much lower than it would be if you had the least expensive house in a nice neighborhood. Other factors, like freeways, proximity to a landfill or sewage treatment center, and train tracks, can knock 10 to 15 percent or more off the value of your home. This is why it's so important to shop location first when you're buying a house; you can always add home improvements, but moving it to another neighborhood isn't going to happ
5 Factors That Impact the Value of Your Home
