What impacts your home’s value here in the Sarasota area? I’ve got 4 major factors, PLUS a pro-tip, PLUS one important and often overlooked item specific to Florida properties.
1. Location
Here in Sarasota, your proximity to the beaches have the biggest impact on home values. That’s not the only thing that matters. The condition of your neighborhood, your school district, and nearby amenities play a key role as well.
2. Condition and Features
How well has your home been maintained both inside and out including things like:
- the age of your roof
- how updated are your bathrooms and the kitchen
- does your home have a pool? In some states a pool doesn’t add much value to a home, but here in Florida it can make a significant difference.
3. Competition and Recent Sales
When potential buyers look at your home, chances are they’re looking at several homes in the same price range and they’re determining how much value they’re getting for the money.
Your home’s value will be impacted by how much comparable homes have sold for AND what’s currently for sale nearby. A knowledgeable, experienced realtor will position your home so you’re getting the most you can while still ensuring that buyers consider your home to be priced fairly.
4. The Size of your Home and Land
This is probably the most common miscalculation I see when I talk with potential home sellers. You might think well my neighbor’s house sold for $800,000 and mine has the same number of bedrooms and bathrooms and it’s in similar condition so mine should also sell for about $800,000. Well, if your neighbor’s house is 2,400 square feet and yours is 1,900 square feet the value isn’t going to be the same.
Here’s your pro-tip: One thing that many realtors don’t mention but we KNOW it to be true is how well your home shows. If it’s neat, clean, tidy, maybe even staged, it’s going to sell faster and for more money than a home that’s cluttered and full of dated furniture.
And finally, a little tip that’s often overlooked but very key here in Florida is tropical outdoor living space. People move here for our beautiful, sunny weather and they’re looking for areas on the property where they can enjoy the sunshine. Spruce up your lanai, front porch or pool enclosure. Add some tropical plants, freshen up your lounge chairs with new cushions. You don’t have to spend a lot for this area to make a big impact and really inspire those buyers.
Are you ready to get started determining your home’s value? You could go out to one of those big real estate websites and fill out a form and you’ll have 14 realtors calling you from who knows where. OR, you could visit my website at ownsarasota.com/home-valuation and I’ll keep your inquiry confidential. You’ll get a customized home valuation right from me away.