Selling your home in the DC Metro is a major decision with many moving parts. From preparing the property for sale to choosing the listing price to accepting the best offer and finally, reaching the closing table— it is essential to work with your real estate agent to ensure you stay on top of it all! If not, you may find yourself facing obstacles like a lower than expected home value. But lucky for you, that can be avoided!
Below are five factors that can bring down your home value. Keep these in mind in order to keep your home sale process in DC, Maryland, or Northern Virginia running as smoothly as possible:
While you may not be able to move your property to another location prior to listing, if it is in a less than ideal location, know that it may not rank as highly as you’d like. There is a reason that the phrase “location, location, location” is so common in real estate and it does have a big impact on your value!
Your yard could be in pristine condition, but if your neighbors’ yard leaves much to be desired, your value will be affected. And while you do not have control over things like barking dogs, chainlink fences, overgrown landscaping, large RVs or disabled cars in the driveway, they can bring down your home value quicker than you’d think.
There are dozens of other factors that go into determining your home’s value— schools, for instance. Look at the schools your home is near, or even the distance to things like shopping centers and medical centers. If your home is in a poor school district or far away from amenities, it will be reflected in your value.
The value of your home in Washington DC, Bethesda, Chevy Chase, Northern Virginia and the surrounding areas will be impacted by the similar properties that have recently sold. These are often referred to as “comparables” or “comps” and in order to determine your value, you will want to measure these properties against yours.
Naturally, you can expect the condition of your Metro DC home to affect its value. Outdated fixtures and a long list of repairs should be tended to before listing the property specifically for this reason. If not, buyers will not be so willing to pay what you might like.
Thinking about listing your Washington DC area home but unsure if your property is ready? Give The Estridge Group a call today! We have helped numerous home sellers achieve a successful sale and we are here to help you do the same!