Few things in life appreciate in value. Land is one of them. But how does this work in terms of your home property value?
The short answer is this: your home’s value depends on its potential selling price. And if you’re selling your home, here are a few questions you should probably be asking yourself:
- Why is it important to know what my home is worth?
Knowing your home’s worth can help you save or earn a considerable amount of money down the road. In relation to this, it is best to also understand the nuances of property tax, capital gains, mortgage refinancing, redesign and development, and even your insurance coverage. All of these will play a large role in determining your home’s value.
Also, take the time to understand movements in the real estate market and the reasons behind these movements. That brings us to our next question.
- How do I find out about my property value?
A home appraisal can be DIY’ed but is still better left to the experts. That’s because sentimental value may come in to cloud your judgment. You may not have factored in the fact that its fixtures and amenities did not improve as much as your perceived land value.
You may also be led to believe that a buyer offering a price that’s acceptable to you automatically amounts to the value of your home. This may not be the case as many other factors can come into play.
The bottom line is that there’s nothing like the support of a better-informed professional in determining your property area’s market price. Work with an agent that can help you set a price for your property and justify that price so that you can assure possible buyers that its value is fair.
Work with me, Anne Dresser Kocur, and do away with the guesswork. As an expert in real estate in the Denver, CO area, I can advise you best regarding your home’s values. Contact me via phone at 303.229.6464, and I’d be happy to assist you.
- What steps can I take to increase my home’s value?
A bit of investment goes a long way. But be realistic! Pace yourself and plan your next redesign and/or remodel.
You can start small: get a paint job one room at a time and maintain your woodwork, among other things. Should anything break, it pays to fix it sooner rather than later.
With a bigger budget, you can improve your bathroom and upgrade your kitchen. Know that any kind of upgrades to these two major areas of the house can instantly raise your home’s price at resale.
Move toward green living by cutting energy costs, adding a water filtration system, and planting a garden to your outdoor space. Many homes, especially new construction, are going for this trend because more home buyers are looking for these “green” features. Not only does this save you money in the long run, but you also decrease your carbon footprint and make the earth a less toxic place to live in.
Feel free to reach out to me, Anne Dresser Kocur, for your real estate needs, particularly in the area of Denver, Colorado. Call me at 303.229.6464 adresser(at)livsir(dotted)com. I look forward to working with you!