Why is One Home Worth More Than Another in Same Neighborhood?| Lake Elsinore Real Estate

Josephine & Raj Sharma
Josephine & Raj Sharma
Published on April 6, 2017

If you live in a small community in Lake Elsinore, CA with neighborhood of similar homes, you maybe wondering why is one worth more than another? That’s the question lot of our Lake Elsinore, CA home buyers and sellers ask us, but the answer is simple.

There are so many different communities built in Lake Elsinore, CA and every home is different. When a home is sold, a willing seller and a willing buyer have just announced to the world the value of that home. From there, other similar homes are bench-marked, but other factors come into play.

The most important are:

Location – The closer a home is to jobs, parks, transportation, schools, and community services, the more desirable it is, location sells the property fast.

Size – Square footage impacts home values because they’re built using more materials. Larger lot sizes mean more privacy.

Lake Elsinore Real Estate Agents

Number of bedrooms and baths – Over time, median homes have grown larger. Decades ago, household members shared bedrooms and baths without complaint, but today, families want more privacy. The median home purchased today is a three-bedroom, two-bath home. More or more home buyers are looking for master suites with each room now days and builders are starting to offer these in many communities with bathroom attached to each room.

Lake Elsinore Listings Agents

Features and finishes – Features such as outdoor kitchens and spa baths make a home more luxurious. A home finished with hardwood floors and granite counter-tops is going to cost more than a home with carpet and laminate countertops.

Condition – The closer a home is to new construction, the more it will retain its value. It’s perceived as more modern, up to date, and perhaps safer. Homes that are not updated or in poor repair sell for less. It’s a good idea for homeowners to keep their homes updated and in top repair. Lake Elsinore is growing fast and new homes are building all over, you want to make your Lake Elsinore home stand out from the crowd.

Curb appeal – From the street, the home looks clean, fresh, and inviting. Fresh landscaping and flowers won’t change the size or location, but they certainly add charm. Buyers fall in love with property from the curb and hope to see much more nicer stuff inside, so present your home in model showing from front to back.

Lake Elsinore Real Estate Brokers

When two homes are identical in the same Lake Elsinore, CA neighborhood, a higher price may come down to something as simple as views, or paint colors, or the overall taste of the homeowner. Valuing a home will never be an exact science, but if you buy wisely, keep your home updated and in good repair, you should recoup most if not all of your investment. Having your Lake Elsinore, CA home staged nicely for showing will make a buying decision for that buyer and what to offer.

When your Lake Elsinore, CA home is on the market for sale, keep it clean, clutter free for all your showing, it only takes one good offer to sell your home and you don’t want to miss that one potential buyer walking through your door.

To find our what you can get for your Lake Elsinore, CA home in today’s real estate market Click Here

To search for homes for sale in Lake Elsinore, CA Click here

To search for homes in Lake Elsinore Canyon Hills Community Click Here for all other nice Lake Elsinore Communities Click Here

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