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3 Salable Factors of Real Estate Property in Florida

04 Aug 2015

The value of Florida property can be affected, negatively or positively, by a wide array of conditions. Putting a home, or any real estate, up for sale, requires that everything from the physical state of the property to the perceived safety of the area will be judged by prospective buyers. When preparing the property for its foray into the market, appending a more-than-fair asking price, there are some considerations to take into account. What follows is a list of three salable factors of real estate property in Florida.

Condition and Age

Naturally, condition is vital. For a home that is well-maintained, with a new roof, air conditioning units, water heater and other such amenities, one would be able to ask a significantly higher price than for a home that requires replacement of major appliances and other renovations. Buyers tend to appreciate the convenience of purchasing a move-in-ready home.

 

The salability of new homes and historic homes exceeds that of other categories in many cases. A home built in the early part of the twentieth century, for example, will usually be considered to be of greater value than one constructed in the 1970s. This general rule applies as long as the historic home is in good condition and is livable. By contrast, a home younger than a decade old will be more salable than its elders (again, up to a point). Visit Marina Title’s Realtors page, for more information.

 

Layout and Size

The layout and size of your property will shape the way buyers regard it. Many average homebuyers are no longer enamored with massive, high-maintenance mansions, preferring a humbler figure for total square-footage in which the space is more effectively utilized. A sensible layout with an open-concept design can give the air of openness and largesse when, in fact, the home is not exceptionally expansive. For example, fewer but larger bedrooms can greatly increase the value of a home. Similar design and effective use of space can be applied to any property.

 

Additions and Upgrades

Contrary to common perception, a home can be upgraded beyond practicality. If, compared to other homes in a subdivision, for example, a property is “over improved,” its valuation could suffer. Granite countertops, stainless steel appliances and other luxury touches often do add value to a property. However, if other homes in the area do not offer the same amenities, one should consider investing those funds elsewhere. That being said, a property that is in excellent condition, with area-appropriate additions and upgrades, can fetch a far more handsome price.

 

Negative Features and Area Safety

Past events, such as fires, floods, extensive mold or break-ins can adversely affect the value of the property. The same applies to a death in the home or the proximity to unsavory areas. If your property is free of negative features such as lead paint and mold, and has not been subjected to natural disasters or crime, its salability will be significantly improved.

 

The professionals at Marina Title deliver expert service tailored to you, and can answer any questions you may have concerning the salability of a property, title searches, title insurance and any other topic pertaining to the Florida real estate market. For more information, contact Marina Title by email at info@marinatitle.com, or by phone at 1 (800) 610-4750.

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