Several factors affect the value of your home. Some of these are within your control while others are not. Let's discuss three important factors that influence home values in San Diego. And when you’re thinking about selling your house, keep these in mind – they could make or break your sale!

Size of Your Home

The size of your home is one of the most important factors affecting its value. If you have a lot of square footage, your home will be worth more than a smaller home with the same features. On average, the price per square foot of listings in San Diego, CA, is $668.

Condition of Your Home

The condition of your home is also a significant factor that affects its value. If your home is in good condition, it will be worth more than a home that needs repairs. This is because buyers don't want to have to put money into fixing up a house they just bought. They would instead buy a turn-key property that they can move right into.

If your home needs repairs, you can still get a reasonable price but you will likely have to sell it for less than a similar home in good condition. This is because buyers will factor in the cost of repairs when they make their offer. In 2021, the average cost of home improvement spending was $10,341.

Location

The location of your home will also affect its value. If your home is in a desirable neighborhood, it will be worth more than a similar home in a less desirable area. This is because buyers are willing to pay more for a home located in a good school district or close to amenities like shopping and restaurants.

Likewise, if your home is in a high-crime area, it will be worth less than a similar home in a safer neighborhood. According to a study featured by The Journalist Resource, a 10% reduction in homicides would lead to a 0.83% increase in housing values the following year.

Keep these factors in mind when evaluating the value of your home!

To value your home right, keep these factors in mind. To learn more about these and other factors affecting the value of your home, contact us at 619-980-7758!