Factors Affecting Your Offer Price
Factors Affecting Your Offer Price
How Property Condition Affects Your Offer
Since you have toured the property you are interested in, you should know how it
compares to the general neighborhood. All you have to do is put the home in one of three
categories - average, above average, or below average.
When evaluating a home’s condition, there are a number of things you should consider.
Structural condition is most important - items such as walls, ceilings, floors, doors and
windows. Then paint, carpets, and floor coverings. Pay special attention to bathrooms
and bedrooms and whether the plumbing and electricity work efficiently. Look at the
fixtures, such as light switches, doorknobs, and drawer handles. The front and back
yards should be in reasonably good shape.
The missing ingredient will be information on the condition of the homes from your
comparable sales list. Provided you chose the right agent to represent you, they will have
actually visited most of those homes and be able to provide key insights.
How Home Improvements Affect Your Offer Price
Even when comparing exact model matches within a tract of homes, you should note
whether the previous owners have made any substantial improvements. Cosmetic
changes should be largely ignored, but major improvements should be taken into
account. Most important would be room additions, especially bedrooms and bathrooms.
Other items, like expensive floor tile or swimming pools should be taken into account,
too, but should be discounted. A pool that costs $20,000 to install does not normally add
$20,000 in value to the home.
Rely on your agent to give you guidance in this area.
Factors Affecting Your Offer Price
How Property Condition Affects Your Offer
Since you have toured the property you are interested in, you should know how it
compares to the general neighborhood. All you have to do is put the home in one of three
categories - average, above average, or below average.
When evaluating a home’s condition, there are a number of things you should consider.
Structural condition is most important - items such as walls, ceilings, floors, doors and
windows. Then paint, carpets, and floor coverings. Pay special attention to bathrooms
and bedrooms and whether the plumbing and electricity work efficiently. Look at the
fixtures, such as light switches, doorknobs, and drawer handles. The front and back
yards should be in reasonably good shape.
The missing ingredient will be information on the condition of the homes from your
comparable sales list. Provided you chose the right agent to represent you, they will have
actually visited most of those homes and be able to provide key insights.
How Home Improvements Affect Your Offer Price
Even when comparing exact model matches within a tract of homes, you should note
whether the previous owners have made any substantial improvements. Cosmetic
changes should be largely ignored, but major improvements should be taken into
account. Most important would be room additions, especially bedrooms and bathrooms.
Other items, like expensive floor tile or swimming pools should be taken into account,
too, but should be discounted. A pool that costs $20,000 to install does not normally add
$20,000 in value to the home.
Rely on your agent to give you guidance in this area.
| Realistic Listing Fees For This Unrealistic Market Click Here Or Call Doug Baird For More Details 616-554-5796 Michigan For Sale By Owner |