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/.

 

Share

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Table of Contents
Bozeman median home value

Increase Your Home's Value

It's a hot market in Bozeman. Don't leave money on the table!

In As Little As A Day

Grab these 7 tips to increase your home's value today!
Get My Guide
Featured Properties
No Comments

Post A Comment

New Real Estate Trends in Bozeman

New Real Estate Trends in Bozeman

The pandemic and remote work are resulting in new real estate trends. We saw a big influx of out-of-town buyers in 2020 that was mainly fueled by the pandemic. I think what is driving home-buying decisions is interesting and we are seeing some new real estate trends

Read More →
What to Expect in Bozeman Real Estate in 2021

What to Expect in Bozeman Real Estate in 2021

Bozeman real estate in 2021 is currently in a seller’s market. From 2019 to 2020, the median sales price increased from *$399,900 to $420,000 and inventory dipped to 0.4 months supply. My prediction is that it’s not going to get any better or less competitive

Read More →
New on the MLS

Latest Listings

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.

Sort Option
  • Listing ID
  • Built up Area
  • Price
  • Pictures
  • Add date
  • Featured
Grid
List
Map
RSS

334 Herstal Way, Bozeman, Montana 59718

334 Herstal Way, Bozeman, Montana 59718

4Bedroom(s)
1Bathroom(s)
0.08Acre
2,096Sqft
Form & Function are on display in this concise and well-appointed plan by Higher Standard Homes. Living room with laminate hardwood seamlessly flows through the dining area and into the kitchen which features quartz counter tops, stainless appliances, modern Bellmont cabinets and large slab island. Upper level boasts spacious master with dual vanities, tile surround shower and walk-in closet.
$719,900

3010 W Villard Street 1F, Bozeman, Montana 59718

3010 W Villard Street 1F, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,308Sqft
Well maintained and move-in ready upper level 3B/2B condo in Morgan Creek. This home also has a 1 car detached garage and spacious bedrooms. Fantastic central Bozeman location.
$415,000

391 Annie Glade Drive, Bozeman, Montana 59718

391 Annie Glade Drive, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
0.30Acre
2,529Sqft
This lovely, light-filled home in Elk Grove is located at the end of cul-de-sac on a larger lot with a beautifully landscaped & fenced yard that backs to open space. This well-appointed home includes 4 bedrooms, 2.5 baths plus office and guest cabin. The main level master features a large ensuite bathroom with soaker tub. Beautiful hardwood floors cover the main living spaces and bedrooms.
$749,000

1028 Boylan Road, Bozeman, Montana 59715

1028 Boylan Road, Bozeman, Montana 59715

3Bedroom(s)
3Bathroom(s)
0.24Acre
2,712Sqft
Fantastic and flexible single level floor plan in Bridger Creek Subdivision is under construction and expected to be completed by mid-March 2022. High quality finishes include an extensive cabinetry package, custom built ins, tile, luxury vinyl flooring and quartz counters. Matte black fixtures enhance the sleek modern flair of this 2700 + Sf home.
$995,000

1045 Boylan Road 3, Bozeman, Montana 59715

1045 Boylan Road 3, Bozeman, Montana 59715

3Bedroom(s)
3Bathroom(s)
2,205Sqft
Great condo in a great location! Situated on the number 6 hole on Bridger Creek Golf Course, this light filled condo is central to all that is great about living in SW MT! Minutes to downtown Bozeman, surrounded by trails, and easy to hop on the walking or bike path to the M and Drinking Horse Mountain. Golf all summer and xc ski on the groomed trails out your back door all winter.
$775,000

2400 Durston 8, Bozeman, Montana 59718

2400 Durston 8, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,755Sqft
Beautifully updated and move in ready, single level home in the desirable Willwobrook Condos. This home features a large master suite w/walk-in closet, private fenced patio and a remodeled 3/4 bath with gorgeous walk-in shower. Luxurious new wool carpet. Granite counters in kitchen and 2nd bath. Kitchen features newer stainless appliances, pull outs in lower cabinets and a sizable pantry.
$725,000

6651 Gooch Hill Road, Bozeman, Montana 59718

6651 Gooch Hill Road, Bozeman, Montana 59718

4Bedroom(s)
3Bathroom(s)
6Acre
3,908Sqft
Great horse property just minutes to downtown. This home has had many updates, including new paint, flooring, fixtures, hardware, lighting, bathroom etc. in 2021/2022. Perfect set-up for the horse lover, with multiple pastures, barn with stalls, tack area, hay storage, round pen, and various outbuildings. 4 beds and 3.5 baths in the house gives you plenty of room.
$1,895,000

305 Michael Grove Avenue 2A, Bozeman, Montana 59718

305 Michael Grove Avenue 2A, Bozeman, Montana 59718

2Bedroom(s)
2Bathroom(s)
953Sqft
Single-level, 2-bedroom 2-bath, newly painted, ground floor, corner unit condo with lots of natural light from north and eastern-facing windows. Open concept living and dining area, opening up to small patio. Main entry is a preferred south facing entry. Condo has central air conditioning(!), a 1-car detached garage with loft storage, and a reserved parking space.
$340,000

439 N 10th, Bozeman, Montana 59715

439 N 10th, Bozeman, Montana 59715

4Bedroom(s)
1Bathroom(s)
0.18Acre
2,200Sqft
GREAT LOCATION! Close to Bozeman Senior High School 4BR 2BA Rancher with full basement and CONVERTED SHOP to a 400SF+ STUDIO/COTTAGE, additional living space in the backyard. Studio has 3/4 bath, small kitchenette w/sink, AC/Heat Mini split, stacked W/D, gas stove heater and walk-in closet. EXTRA PARKING accessed from alley.
$685,000
14 Results returned.Per Page

home

Let me help
you find yours.

Windermere Downtown logo Bozeman Real Estate Agent Liz Nitz

Windermere Downtown Bozeman

135 E Main St.

Bozeman, MT 59715

MLS Realtor logo Bozeman Real Estate Agent Liz Nitz
Equal Housing Opportunity Bozeman Real Estate Agent Liz Nitz
Copyright © 2020 by Liz Nitz. All rights reserved. View our Privacy Policy.
Made with ♡ by Pageperfect.
Play Video

Get In Touch

Start the Conversation

Play Video

Don't leave money on the table

Increase Your Home's Value in A Day

Get Dynamic Updates

Save a custom search on this page & I'll email you instantly when a new listing matches the criteria.