Whether needed for insurance, a lending company or just to get an independent idea of your home’s value, having a real estate appraiser examine your property can save you big money on your home. Your home is the biggest investment you’ll ever make (unless you win big on the stock market), so you should take the time to understand how to take care of that investment. A home appraiser can show you how. The benefits of an appraisal (when compared to the marginal cost) make them a great investment in your future.
Discovering the Value
Creating a home appraisal isn’t just totaling the value of your home’s contents and then producing a number. Since residential property markets change so much over a short period of time, appraisers have to take those shifting trends into consideration. Just getting a sum total is usually used for insurance purposes, but doesn’t offer the same result as a selling price estimate.
To get your home’s value, they look for similar homes in your area that sold in the last six months and then compare those homes to yours. This gives the most accurate and current home valuation.
One of the great things about having a real estate appraiser examine your home is that they can offer great advice in improving your home. Since they are so familiar with market trends, they know exactly which home features will add value to your home and which takes value away.
Some of the improvements they offer might be outside your pocketbook, but a few, like granite counter tops or new sinks, can be installed by virtually anyone. Imagine investing a few hours of work and a hundred dollars in materials to add a thousand dollars in value to your home. That’s a great return.
Categorised in: Tips For Improving Home Value
This post was written by Joseph Castaneda