You love your home on the river in St. Paul, MN. You want to sell it, but you want to get the highest price possible. Won’t everyone else appreciate what a wonderful home it is?
This article explains why the answer is “no”, and why an experienced real estate agent can help take emotions out of the equation and help you look at the objective factors that raise or lower the value of your home. We would argue that there are significantly more than five factors that impact your home’s value, but these five are good to think about:
There’s not much you can do about this now, and perhaps you’re in a great location! But it’s always good to remember that no matter how wonderful your home is, no matter how much you’ve poured into improving and updating it, if it’s right next to the freeway or train tracks, a significant percentage of its value is deducted.
2. Outdated Rooms
There is a lot that you can do about this item. With so much competition out there, buyers have their pick of homes with nicer, newer appliances, cabinets, etc. It’s easy to overlook a home that hasn’t put any updates into their rooms.
Perhaps your home is in great repair, in a great location, and fully updated. You still might have buyers turning up their noses at it if you have a lot of renters in the same area. Stereotype or no, renters tend to not take care of their homes and yards like homeowners do, and their transient nature adds a feeling of instability to the neighborhood.
4. Major Upgrades
In the past, a brand new roof may have been a big selling point. These days, it’s just expected that your roof is in good repair and not too old. If you have major things that need to be done to the house, it will be almost unsellable.
So many buyers are looking for a place to be a home to their children and/or pets. A child-friendly fenced-in yard is a huge selling point, and the lack of one can make many buyers leave without a second look.
It’s a hard time to sell a riverfront home in St. Paul. You don’t get many extra points for the good things about your home, and you get docked many points for its deficiencies. There’s never been a more important time to have a real estate agent on your side who knows your area well and can help you with a price point and improvements to your home that will result in a sale. The Barb Goerss Home Sales team is ready to get to work for you!