of the underlying property.
A beautifully painted room could still have an old roof above it.
A remodeled kitchen could still have outdated plumbing.
A clean basement could still have moisture problems.
A freshly landscaped yard doesn’t tell you everything about drainage.
That’s why serious buyers need to look beneath the surface.
The Importance of Comparable Sales
Another useful step is researching comparable properties.
Comparable sales — often called “comps” — help provide context for the asking price.
If similar four-bedroom, two-bathroom houses in the same area have recently sold for substantially more, the $89,000 figure becomes particularly interesting.
But if similar homes are selling around the same amount, the price may simply reflect the local market.
Comparisons should take into account more than bedroom and bathroom counts.
Square footage matters.
Lot size matters.
Age matters.
Condition matters.
Location matters.
Garage space, renovations, outdoor features, and other characteristics can also influence
