Whether you are in the market to sell or purchase a home or property, knowing what affects their value can help you make a more informed purchase.
Here are some notable factors to consider:
- Prices of Comparable Properties
Comparing the prices of similar properties or homes in a specific area can give you a better idea of what values you could expect in your home listings. For buyers, it provides a reasonable expectation of the purchase prices of properties in a designated area. You could also consult our real estate agent, who can help you better determine the value of a certain property.
- The State of the Property Market
Prices and valuations of property can fluctuate or run in cycles. When the supply is low, the prices of property and homes tend to go up, and vice versa. We offer real estate services in White Marsh, Maryland, to help you better understand the current housing/property market.
- Property Size
A bigger home or lot is often more desirable, increasing its overall value and purchase/selling price. Property with more bedrooms, a big yard, and extra living spaces often have higher listing prices. Checking the property value per square foot can also help buyers make more informed comparisons of differently-sized properties.
Our home group employs real estate professionals who can help you determine the right value of a home or property, whether you are in the market to buy or sell.