How to Determine a Fair Price for Your House

In the past 5 years the housing market has taken a huge hit. Most areas really haven’t fully recovered fully from the economic recession. That being said, there is no reason why you can’t find a fair price for your house. There are three main things to consider when trying to determine a fair price:

Location

Where the house actually stands is extremely important. How close it is to schools, parks, downtown, or industrial areas all matter. In the Louisville area, houses closer to downtown -with all the nigh life – are worth more. Crossing the bridge into Jeffersonville, Indiana, you may see an increase in value the closer you get to the Ohio River. 

Needed Repairs

Repairs can take many shapes and sizes and price tags. This can be as easy as a fresh coat of paint or maybe a new light fixture, but it can also be as involved as brand new flooring or a renovated kitchen. If a floor is showing its age in more than a few places, or and there is a crack in the front window, these things can be expensive to replace. All of these extra costs will be taken into consideration before an offer is made on a house.

Condition of the Property

Beyond where the house is or what repairs need to be made, it is important for the house to meet current legal safety codes. Floors and stairs need to be structurally sound. Any places where dry wall has come in continuous contact with water need to be replaced. Housing inspections are generally ordered for homes that are changing hands to help create a comprehensive list of issues that need to be addressed. The longer the list the more the repairs will cost, and the less the house is worth. Put simply, the more that has to be done to a house the less it is ultimately worth in its current state. 

No matter where in Kentuckiana your house is, no matter what repairs need to be done, no matter what the condition of the property is, give us a call! We want to make you a fair cash offer. We will be completely transparent throughout the process.

Leave a Reply

Your email address will not be published.