Intro to Bozeman

14 Factors that Determine a Home’s Value

by Liz Nitz

14 Factors that determine a home’s value bozeman real estate agent

In trying to evaluate your home for a listing price that could actually result in a sale, agents and owners should look at the following factors objectively and without emotion.

A buyer may react emotionally to an aspect of the home which is great but most buyers will then ask their agent to do a comparative market analysis to measure the fairness of the asking price.  If a buyer is getting a loan to purchase the home, the home has to appraise according to strict guidelines.  See here for what an appraiser looks at  https://sf.freddiemac.com/content/_assets/resources/pdf/forms/70.pdf

 

Following are 14 Factors that help determine a home’s value.

  1. Age of home and design style – While newer homes are favored by some buyers due to the lack of maintenance requirements, there are many buyers who love the charm of an older home, especially those of the craftsman and Victorian style.
  2. Structural materials and systems.  Even in an older home, one that has had updates to systems such as electrical, plumbing, heating, and replacements to roof and siding will be seen as more desirable and garner a higher price.
  3. Quality of Renovations and Added Amenities.  Renovations that are properly permitted are most desirable. Beyond that, the quality and workmanship of renovations will garner a larger listing price.  Added Amenities such as hot tub, water feature, etc will also add value.
  4. Floor plan.  Is the floor plan functional for today’s consumer? Needs and tastes change so this can be a moving target.
  5. Number of bedrooms and bathrooms.  Price should be reflective of these numbers and these days, a private master bath is a sought-after feature.
  6. Square footage.  Not always the most important element if the home has a great floor plan and makes use of space well.
  7. Curb appeal.  Very important for first impression.
  8. Lot square footage and design.  Not only is the lot important but also what is done with the space. People want to spend more time outside and a backyard oasis where one can entertain and relax is a sought-after commodity.
  9. Storage.  More important for some consumers than others but organized storage is generally a plus.
  10. Garage.  In some places, the number of garage spaces can make a huge difference in selling time and price. In Bozeman, 3 garage stalls are very desirable so that people can store their toys on site.
  11. View.  Views can increase the value of property especially if they are unobstructed and protected.
  12.  Location.  Everything factors in here from walkability to shops, coffee, restaurants, ambient noise, convenience to freeways, airports, perceived demand for the neighborhood.
  13. Neighborhood.  What does the rest of the neighborhood look like? It is most desirable to have like kind or better properties than the subject home in the neighborhood
  14. Comps and the current real estate market.  What have other homes sold for in the past 90 days? And then what is the momentum of the current market?

 

If you are curious how your home would be valued, please reach out and let’s schedule a free property analysis.  Montana is a nondisclosure state so only a licensed realtor or appraiser has access to real sold data which you need for an accurate valuation.  For up-to-date information on the Bozeman market, read my blog posts at  https://movemetomontana.com/.

 

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The following homes listed below were just listed in the last 7 days. This seller’s market is hot so we keep a close eye on the latest inventory. Subscribe below for instant updates of your ideal criteria.

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236 Dry Fly Lane, Bozeman, Montana 59718

236 Dry Fly Lane, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
1.01Acre
3,780Sqft
Gorgeous new construction by acclaimed ST Custom Homes. This architecturally designed Contemporary home encompasses all the finest features. Main living level has natural white oak floors & stunning great room, with floor to ceiling tile-surround fireplace.
$1,095,000

14948 Pony Creek Road, Bozeman, Montana 59715

14948 Pony Creek Road, Bozeman, Montana 59715

1Bedroom(s)
1Bathroom(s)
22.32Acre
1,099Sqft
10 minutes to Bridger Bowl 35-40 minutes to Bozeman and less than an hour to Livingston via Clyde Park this 22.32 acre property would be ideal for an artist, writer or client looking to live in the mountains. Home is unique and well thought out for individual or couple. Natural light and great trails allow for skiing and mountain biking throughout the property.
$620,000

978 Auger Lane, Bozeman, Montana 59718

978 Auger Lane, Bozeman, Montana 59718

5Bedroom(s)
3Bathroom(s)
0.19Acre
3,332Sqft
Currently under construction and scheduled to be finished in September 2021. This 2-story craftsman home with breathtaking views of the Bridger Mountains is located in the highly sought-after Flander's Mill Subdvision. This 5-bedroom, 3-bathroom home has a 3-car garage using a tandem parking on one side.
$1,400,000

1956 Vaquero Parkway, Bozeman, Montana 59718

1956 Vaquero Parkway, Bozeman, Montana 59718

5Bedroom(s)
3Bathroom(s)
0.16Acre
2,894Sqft
New/under construction, this contemporary farm home in The Crossings boasts some of the most spectacular views. Backing to open space and thoughtful window placement allow for tons of light and amazing Bridger mountain views to the northeast.
$1,100,000

5418 Vahl Way, Bozeman, Montana 59718

5418 Vahl Way, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
0.10Acre
2,181Sqft
Welcome home to The Lakes at Valley West! This four bedroom home with a second floor bonus room provides a lot of natural light. It conveniently backs to neighborhood open space with sidewalks and is located not even a block away from "the lakes" and the desirable playground in the subdivision.
$750,000

4116 Moonstone Drive, Bozeman, Montana 59718

4116 Moonstone Drive, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
0.19Acre
2,534Sqft
Beautiful home in desirable Flanders Mill features a most functional floorplan that includes a well-appointed main floor owner's suite and separate office/den that could be a fourth bedroom. The gorgeous kitchen has tons of storage and a huge island that's open to the vaulted great room. The upper level boasts generous bedrooms with Bridger views that open to yet another living area.
$869,000

3191 Fieldstone Drive W, Bozeman, Montana 59715

3191 Fieldstone Drive W, Bozeman, Montana 59715

4Bedroom(s)
3Bathroom(s)
0.19Acre
3,018Sqft
Centrally located on the south side of Bozeman and close to Morningstar and Sacajawea schools boasts a newly remodeled living room and kitchen. The kitchen is a chef's dream; Viking appliances, Bosch coffee station, new cabinetry, quartz counter tops, Tiger Wood flooring and front door, along with interior Alder doors.
$875,000

3327 Monida Street, Bozeman, Montana 59718

3327 Monida Street, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
0.20Acre
2,647Sqft
LOCATION, LOCATION, LOCATION! With 2600+ SF, this great, open floor plan features a main floor master, office + 3 large bedrooms upstairs. The living room is equipped with a gas fireplace and is centrally located between the kitchen, back patio, and dining area - great for entertaining.
$775,000

271 Heights, Bozeman, Montana 59718

271 Heights, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.60Acre
2,157Sqft
Like new, charming two-story home has great views of the Bridger Mountains and is across from neighborhood park with playground, gazebo and volleyball/basketball courts. The main floor of this 2150sf home offers a spacious living room featuring a cozy gas fireplace, kitchen with island, granite countertops and stainless-steel appliances plus guest bath and den/office.
$659,000
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Windermere Downtown Bozeman

135 E Main St.

Bozeman, MT 59715

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