It also has different values to prospective buyers depending on their needs, wants and financial resources.
Let’s take a closer look at price versus value versus cost:
This is what the seller should reasonably be asking for. Recently sold properties, of similar size and upkeep, are used to help determine fair market value. Keep in mind that condition, location and surroundings, as well as the view, can all affect the price of a house.
This is established by a prospective buyer. Every buyer perceives the value of your home differently. They are calculating the value based on how they would use your home and how it would work for them.
Sellers believe a house is worth what they paid for it plus how much was spent on improvements. In reality, when a seller improves a home, the value of the property is increased, not the cost. Since value is based on the buyer’s preferences, improvements and other extras are all subjective. A seller could receive dissimilar offers from potential buyers because they have made personal decisions about the home’s value.
In the end, what determines the selling price of your home isn’t necessarily any of these things, nor is it what you paid, nor the proceeds you might need from the sale. What determines the selling price of your home is the market.
Curious about the value of your Naples home in today’s market? Call me.
Alysia Shivers Realtor | Naples Florida Real Estate | 239.877.9732
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