First, you need the help of a real estate professional to get the correct market value for your home. Like the folks at Telluride Real Estate Corporation or Telluride Properties, a truly professional real estate agent or broker can learn the going rates for homes like yours in your area, even if these rates change periodically. When they tell you the market value, though, remember that they have an idea of the house in mind, and if yours isn’t up to par, then the value will be less. Now it’s up to you to maximize the market value of your home.
Next, property values can depreciate and this needs to be made clear. If it looks dingy and unkempt, with lots of grass in the yard or leaves on the downspout, then the value is likely to be much less. Ditto if it’s in an undesirable neighborhood, even if the house is made of A-1 materials. So make the necessary concessions for them in your selling price or, if you want to increase your price, then obviously some things need to be done regarding the house you are selling.
Third, a house without problems sells higher. Leaky faucets, leaky roofs, stuck window frames, worn carpeting, or malfunctioning hot water heaters or radiators are not permitted. So repairs are a must if you want a higher price. Also count the garage transformed into an office or bedroom as they add real usable space to the house. Remember that woodwork repairs can be covered with paint, so the termite-eaten window sill should be reworked and painted. On the other hand, the simple act of repairing it shows that you are conscious of keeping the house in optimal conditions. The buyer who sees it will assume that it is the same in all parts of the house.
Additions to the house also raise its value. do you have a pool A terrace, a patio or a lanai? Fix them and raise the sale price. Gardening also does that. Trim trees for dead wood and cut grass on the lawn. Reposition potted plants at the property line or plant new hedges along fences. Make your house and lawn look great and your asking price will look great too.
Finally, there are the intangibles. A house that is part of history will definitely sell higher, so make that a major selling point as well. Play that part of the story, no matter how small, and you’ll gain an advantage.
So remember that the amount the property appraiser is not the final word on the selling price of your home; it is only in fact an initial price. You can raise or lower that price depending on what you do or don’t do with your home before you market it. But of course the final decision on how much to sell is yours because you are also selling a part of your life and memories.