#house value

Whether you’re planning to move soon or not, it’s smart to be strategic about which home projects you take on. Your time, energy, and money matter – and not all upgrades offer the payoff you might expect. As U.S. News Real Estate explains:

“... not every home renovation project will increase the resale value of a home. Before you invest in a swimming pool or new addition, you should consider whether the project will pay itself off by getting prospective buyers in the door when it’s time to sell.“

That’s why, before you pick up a power tool or call a contractor, you should talk to a real estate agent from a reputable real estate agency who understands local market trends.

Planning Pays Off

If you plan to move relatively soon, you’ll want to get a jump start on your to-do list. And even if moving isn’t on your radar yet, life can change quickly, and a new job, a growing family, or shifting priorities can fast-track your plans.

You don’t want to be scrambling to fix up your home if your timeline changes.

Smart updates now = fewer headaches later.

By planning, you can spread the work over time, which is easier on your wallet and stress levels. Plus, you’ll enjoy the upgrades while you’re still living there and have the peace of mind that your house is ready to impress when it’s time to list.

What Buyers Want (and What’s Actually Worth Doing)

If you’re unsure which projects are worth your time and money, here’s some information that can help.

A study from the National Association of Realtors (NAR) shows which upgrades typically offer the best return on your investment (ROI) (see our latest graph).

If an update you’re already thinking about overlaps with those high-ROI upgrades, great. Oddly, it’ll improve your quality of life and your home’s value later.

But don’t take this list as law. This is based on national data and is the sort of thing that’s going to vary based on what’s most sought-after where you live. That’s where your agent comes in. As an article from Ramsey Solutions says:

“The best way to gauge what you can expect in terms of resale value on home improvements—especially if you’re planning to sell soon—is to talk to a real estate agent who is an expert in your market. They’re sure to know the local trends, and they can show you how other homes with the features you want to add are selling. That way, you can make an educated decision before you start ordering lumber and knocking down walls.”

You’ll just want to make sure you don’t overdo it. Too many high-end updates can make your home the priciest in the neighborhood.

That might sound great, but it can turn buyers away if it’s outside their expected price range for the area. The right agent will help you make smart updates that buyers will love, without going overboard.

Whether the project is big or small, it pays to be strategic. And an agent is a key piece of that strategy.

What Are Real Estate Experts Saying? Bottom Line

Whether you plan to move soon or not, making strategic updates that’ll help you love your home now and stand out later can still pay off.

What’s one upgrade you’ve been considering – and wondering if it’s worth it? Let’s make sure it’ll pay off when the time comes.

How To Increase The Value Of Your Home

With the housing market currently booming, and many properties going for over the asking price – many homeowners are considering if now is the right time to sell their homes. (more…)

If you’ve gone through the process of applying for Resource or Building Consent in Auckland this year (2016), you will no doubt have felt the presence of the “elephant in the Auckland Council living room”. Needless to say in the last 3-4 years, Auckland has been going through a strong growth phase of increased population, house values, and Building Consents to meet demand.

Your Dallas home is probably your biggest asset—it makes sense to know how much it is worth. Perhaps your thinking of selling, or maybe you need to refinance. It might even be the case that you have been charged too much for your property tax or insurance. All of these situations require you to know how much your Dallas home is worth. 

If you are about to sell your Dallas home for cash, you will most definitely want to know how much it is worth. Cash buyers don’t pay full market value, so you need to understand the value better to ensure you aren’t being taken for a ride. 

For a fast and accurate figure, like 28% of Americans, you could have a professional home appraisal. This assessment of the value of a property is essential for the approval of a mortgage in Dallas. An appraiser will look at the current housing market, the property itself, and comparable homes in the area. 

The cost of a home appraisal in Dallas is between $330 and $500. This might not be something you are willing or able to pay out if you are just curious. Here are four other ways to know how much your Dallas home is worth. 

1.      A Comparative Market Analysis 

A comparative market analysis (CMA) is not as detailed as a home appraisal. Still, it is provided by real estate agents who are experts in this field. They will already have an understanding of the properties that have been sold recently and the market. The CMA is usually a reasonable estimate for listing your property. 

The positive to a CMA is that some Dallas real estate agents will offer them for free, others with a small fee. That being said, they may also strongly encourage you to sell your Dallas home by using them as your agent. 

2.      The HPI Calculator 

The Federal Housing Financing Agency has developed a house price index (HPI) calculator, which has been gathering mortgage transaction data for more than 50 years. Home value estimations are created by looking at the difference in value after each sale. It gives you an idea of the value of the home, based on appreciation. It doesn’t consider the local market, the condition of the house, or its age. 

3.      Use Home Value Estimator Tools 

As with everything online, you need to make sure you are using the correct home value estimator tools. Most of these tools use an automated valuation model (AVM). They take data from public records and combine this with properties that have sold recently or are currently listed. 

Many real estate websites will have an AVM, but you need to take care when it comes to accuracy as they may only be after your email address. Wherever possible, use a professional-grade AVM with a confidence score of 90%. 

4.      Look at Comparables