Your home is a prized asset that can become even more valuable with time. Here’s how to make sure that your home retains its market value.
What Affects Market Value?
Here are several factors that can affect your home’s value:
- Location
Location is one of the primary considerations when buying or selling real estate. Waterfront homes and homes situated along culs-de-sac tend to be in high demand. The same goes for residences situated near shops, restaurants, and offices.
- School district
Neighborhoods that are served by top-rated school districts are considered desirable among buyers, especially those with young, school-age children. Sebastian, for one, is served by the School District of Indian River County.
You can gauge the school district’s performance for school year 2016-2017 here.
- Future development
Any plans concerning public infrastructure, schools, hospitals, and new construction homes can have an impact on property values in the area. So if there are positive developments in store for the neighborhood, you can expect home values to shoot up.
- Average age of residents
Buyers look at the average age of residents in the neighborhood to see if they’ll be able to start new friendships with people their age. The same is true for couples with children since they’d want their kids to have other children to play with.
Tips on Maintaining Market Value
- Proper maintenance
Regular maintenance is crucial to maintaining a home’s value. Have the roof and drainage inspected as often as needed. Get your heating, ventilation, and air conditioning (HVAC) system checked regularly. Let a professional clean or replace old air filters, as well as oil older motor units.
- Repairs
Make sure that all your hardware and fixtures are in good working order. Have leaking faucets and burst pipes fixed before the problem gets bigger.
If you need to get major improvements done, like getting new HVAC units, windows panes, green technology, or a home extension – never compromise on quality. Consider it a solid investment that can drive up your home’s value.
- Gardening and landscaping
Curb appeal is essential to a property’s market value, so make sure that your front yard and home exterior are in excellent condition. Keep the front yard clear of dead leaves, junk, and debris. Make sure that that gate, fencing, and stepping stones are pristine. Repaint the exterior walls, window boxes, and front door.
Mow the lawn regularly, and make sure that any plants and trees you have on the property are healthy looking. You can also hire a professional landscape artist to get the work done.
- Upgrades
You can also boost your home’s value by making carefully planned upgrades. You can bring in some high-end appliances or deck out the countertops in granite or quartz. You can also replace the tub, sink, and toilet with new ones.
The possibilities are endless, and you can have a little fun with renovations. Just ask yourself if these improvements can add value to the home, and if you will be able to recoup the costs when you make a sale.
If you’re selling your home in Sebastian, Vero Beach, Micco, or any other community in Indian River County and Brevard County in Florida, Contact Francine Kidder at 772.925.9587 or send an email to Francine@FrancineKidder.com.