Holliston June 2016

Page 30 Local Town Pages www.hollistontownnews.com June 2016
What Affects Your Home’s Value Most?
By John Szolomayer,
Realtor
Sellers are looking to get the
maximum amount for their
home, and some have an inflated
idea of what to expect
when finding the value of their
home. Do home renovations
truly give you a big return on
the investment? Take a look at
these important factors that impact
your home’s value.
• Location is Everything –
You know what they say,
you’ve heard it before –
“location, location, location!”
Location includes
factors such as the price of
nearby homes, the quality
of the school district and
the sense of community.
Many people seek out
communities with walk
able amenities. For millennials,
it is important for
them to be in the center
of the action and within
walking distance of the
places they need to get to.
• Layout and Size – Homebuyers
used to compete
for homes with ample
square footage, but many
have fallen out of love
with large homes. With
large homes come more
housework and more
maintenance to keep up
the home’s grand appearance.
Layout is a big factor
because even if you don’t
have a 3,500 square-foot
home, an open concept
can make your 2,000
square-foot home look just
as spacious. The number
of bedrooms is also a big
influence on a home’s
value, so think hard before
you put up a wall to
separate one room into
two. Fewer but larger bedrooms
increase the value
of homes.
• Age and Condition –
Older, historic homes and
new, modern homes are
traditionally more valuable
than homes built in
the middle of that timeline.
As homes get older,
they generally lose value,
but there is also that point
where homes become so
aged that they have historical
value. Along with the
age of the home, the condition
of the home also
matters. Buyers are more
willing to pay $20,000
more for a home that is in
excellent condition than
they are for a house that
needs $5,000 worth of
work.
• Putting in the Right
Upgrades – Renovations
can positively affect your
home’s value – especially
in areas like the kitchen
and bathrooms. Although,
if your home is over-thetop
improved compared
with other homes in the
neighborhood, it can actually
hurt your property’s
value. Unless you live in
an upscale neighborhood
where built-in wine cellars
and chef ’s kitchens
are considered normal,
you may want to save the
money on expensive finishes
and go for the more
basic options. You should
also be sure to keep a record
of the repairs and
upgrades to show potential
buyers that the home
has been well-maintained
and taken care of.
Information provided by John
Szolomayer, Realtor from Hallmark
Sotheby’s International Realty in
Hopkinton. Each office is independently
owned and operated. John can
be reached for more information at
(508) 259-4788 or at johnszolomayer.com.
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