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What Goes Into a Home’s Price?

What Goes Into a Home's Price

A lot of factors impact a home’s price, and knowing what they are when you’re house-hunting can make buying a lot easier.

Here’s what you need to know.

What Goes Into a Home’s Price?

Some of the factors that bring a home’s price to what it is include:

  • Market conditions
  • Location
  • Comps
  • Amenities
  • Age and condition

Market Conditions

Local market conditions have a big impact on a home’s price. If it’s a seller’s market – one in which there are more buyers than houses – the prices will generally be higher. If it’s a buyer’s market, where there are more homes than there are buyers, the prices will likely be lower.

Location

Location matters – even right down to the neighborhood and street. Home prices can vary widely throughout a neighborhood, especially when there are other factors affecting a house’s value (like a tear-down next door, old homes on either side of the one that’s for sale, or even whether there’s a park nearby).

Comps

Comps are other homes a real estate agent compares the for-sale home to in order to arrive at a price. They’ll all be similar in size, location and amenities, as well as age, and they give a clear picture of what buyers are paying for other homes on the current market.

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Amenities

Specific amenities in the home will affect its price, like brand-name, new appliances, big bedrooms, how much light comes in the windows during the day, and ceiling height. Every home is different, and every amenity is worth a different amount to buyers – but they all add up.

Age and Condition

The home’s age and its condition are very important when it comes to price. A home with new appliances and systems will be higher-priced than an older home that’s likely to need a new roof in the next few years.

Are You Buying a Home Along 30A?

If you’re thinking about buying a home for sale on 30A, we can help you. Call us at 850-213-3048 to tell us what you’re looking for – we can help you find it.

In the meantime, check out all our listings or get specific with these links:

  • Blue Mountain homes for sale
  • Draper Lake homes for sale
  • Grayton Beach homes for sale
  • Panama City Beach homes for sale
  • Santa Rosa Beach homes for sale
  • WaterColor homes for sale

Posted in: Buyers Tagged: Age, Amenities, Buying a Home, Comps, Condition, Home Pricing, Location, Market Conditions, Market Update, Selling a Home

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As local 30A Real Estate Agents we also have access to homes before they hit the market and can show you more homes and information that are only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact us at your convenience. There is no obligation and or pressure… we hope to hear from you!

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How Market Conditions Affect Home Prices »

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35 Clayton Lane Suite B
Grayton Beach,
FL 32459

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