Why Your Home is Worth More than the One Down the Street.

Your home can be the exact same style and square footage as the one down the street, even be on the same sized lot, and still be worth more money than the other home.

Now that you actually see that in writing, and it's not just a thought in your head, it doesn't sound right, does it?

Suppose it's YOUR home that is the one down the street that's exactly the same in every way as the other house, and the Realtor says that  YOUR house is worth less? .... that doesn't sound right, either.

Your own emotional attachment to your home doesn't make it worth any more money. If an exact replica of your home was built right next door to you, your home would still be worth more "emotionally" to you. The house next door is somebody else's, and even though it's the same layout,  it just isn't your home, period.  One thing for certain is that your home is worth more TO YOU.

Sentimental attachments are not worth anything to the buyer, though. They have not created an emotional bond by looking at your home for twenty minutes, and just because your home is special to you doesn't mean that it's worth more in the marketplace to any buyer. That's a hard truth, and unfortunately, that's a fact.

How can an agent say your  house is worth LESS than the same house down the street? Why wouldn't it at least be the same?

There are a few reasons that this might actually be the case. One, and it's something that you've heard before-  is the location. If your home is on a corner lot, it WILL be worth less than the house down the street that isn't, and the reason has to do with privacy. If your home is on a main road, the exact same house that's next door to you will be worth more, if it's on a side street. By the way, the towns tax assessor rates your home in accordance with these principles as well.

If neither of those instances fit for your circumstance,, there is probably something else within that house that makes it worth more. It may be maintained better, may be updated in a more marketable way, or it  just shows better than your house does.

If the market is not increasing in value, your home should not be listed for more money than that house sold for, and for some, that's hard to swallow. It all comes down to the emotional attachment and sentimental value of your home TO YOU, and remembering that todays buyers are not willing to pay extra for it.

If you have a question about buying or selling Real Estate in Fairfield County, and are in need of representation, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

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[appraisal management company]

Great article. You should also look at an appraisal management company to find out what your home is worth. http://www.collateralmanagement.org