Thursday, September 15, 2022

How to Find How Much Your Lexington MA Home Is Worth

When you decide to sell your home in Lexington MA, you begin to dream about how much profit you can make and moving to your next location. However, there is one figure you'll need to determine before you can make those dreams a reality— your home value.

It is not uncommon for homeowners to over-estimate how much their property might be worth, so as your local real estate expert, I have put together a few tips that can help you determine just that.

Comparable properties

One of the first places to look to help find your home value is a list of comparable properties in the area. Look at homes that have a similar square footage to yours or those with the same types of features. 

Home improvements

Have you made any recent improvements to your Lexington MA home? They could make a big impact on your home value— or not add as much as you thought. Know that there are some updates that don't add as much value as others at resale so it is always wise to consider ROI (return on investment) prior to completing projects. If you are unsure if a certain update will boost your value, you are welcome to consult your real estate agent!

Location

There is a reason "location, location, location" is a real estate mantra. Factors in your area like the schools, proximity to entertainment, parks, commute times, neighbors, and of course, a sense of community can all either help or hinder your home value. 

There are many ways for you to determine the value of your Lexington MA home and it is helpful to have an idea of what you might be working with prior to listing the property. Remember, it's best to put on your home seller hat and set aside your emotional ties to the property to find a realistic price.

Curious about your home value? Contact me today to find out!