Benefits of Knowing Your Home Value

Whether you plan to buy, sell, refinance or make home improvements, knowing the value of your home has several benefits. We want to make sure you have all the information you need at your fingertips!

Selling Your Home 

Knowing what your home is worth, and the price of homes recently sold in the neighborhood are important factors used when determining your selling price. 

Sometimes, sellers will list a home above market value because they have made upgrades, not knowing these upgrades don’t always add "appraisal” value like other amenities, like square footage.  If you know what homes are selling for in the neighborhood/area, plus you've done your research on what upgrades have affected their home values, you may be able to negotiate on price.

 Getting a better idea about your home value and the value of your neighborhood is definitely a good first step if you are considering selling in the near future.

Refinancing

Understanding value before starting the refinancing process is also important. There are a multitude of reasons why individuals choose to refinance, but the one our lenders hear most often is to lower the current interest rate. Lowering the interest rate may lower the monthly interest cost, but not necessarily the overall cost of your mortgage.

Understanding your value before starting the refinance process could help prevent you from starting a process that won’t be as beneficial as you first thought.

Making Home Improvements

Home improvements are made for two reasons – making the house more comfortable to live in or preparing your home for sale to get a better selling price. If your home is already priced at the higher end, making home improvements may not yield a return on investment and could waste more money in the long run.  

Understanding your home value and that of the neighborhood you live in should be the first step before you decide on making expensive home improvements.

Being in the Know

You may have no immediate plans to do any of the above but knowing your home value is a great idea! Situations and plans can change in the future, sometimes involuntarily. So knowing your most recent home value will help you take the next steps when you are ready or when life throws you a twist.

We are here to help you! 

Before you decide to sell, buy or make home improvements, we encourage you to speak with one of our agents who can provide you with a comprehensive market analysis based on your home's unique aspects.

You can get your FREE Home Valuation HERE.  This is not a Zestimate or a guesstimate!  This is a custom built market analysis to give you the most accurate price for your home.

If you are looking for a new home - you can also schedule a Strategy Session with one of our agents to go over all of your Buyer’s needs HERE!