Home values vary over time -- peaking during a seller's market and changing again during economic downturn. A savvy home seller will monitor their home’s value over the years so they know the general price range for their home.

If you plan to do renovations to increase the value of your home, or are just wondering why the value isn't increasing much over time, you need to understand what other factors influence a home's value. Here are a few things to consider.

Outdated Renos

Does your home bask in the glory of the 1990's with dark wood cabinets and paint hues? Renovations that were stylish when you bought your home might cause a buyer to run in the other direction. A major renovation may not be the best way to increase your return though, so consider keeping it simple if you want to make a difference. Fresh paint and a good deep cleaning will do wonders for your space.

Location

Home placement factors into determining how much you will get for your home. If you are living in Meaford, the Blue Mountains, or Meaford, chances are you will witness a pleasant jump in perceived market value. Southern Georgian Bay has become popular spot to relocate to.

Your Home is at an Awkward Stage

Character-filled old properties are always in demand and so are new builds; But a house that is somewhere between the two can be more difficult to vouch for. If your house is between 30-40 years old, and out of date, you might want to consider making some small improvements to help generate interest and make a sale.

History

Has your home flooded during a storm and suffered mold as a result? Did a fire ever occur on or near the property? Did a crime ever occur? If your house has a storied history, then savvy potential buyers will know about it -- and they may not be eager to inherit that chapter.

Wow Factor?

Some houses just have a little something to them that sets it above others. It could be rare architectural finishes or its proximity to renowned landmarks. But if there's nothing that really distinguishes your home, it can be difficult to attract attention, especially during the busy spring market.

Conclusion:

Price it too high, and buyers will pass you up without ever stepping through the door. Price it too low, and you could lose thousands of dollars. The right price gets you the most money in the least amount of time. And the most proactive approach you can make to achieve that result is to fill out an uncomplicated and commitment free home evaluation report.