Home Valuation

The home valuation process is a very detailed process that should be handled by real estate professionals. Home appraisals are required for home sales, but not in order to determine the actual sale value of a home.

Is there such a thing as a “home value checklist” that homeowners can use to determine the value of their home? How do homeowners determine whether the improvements they are making can increase the value of their home?

Two very broad concepts to consider when trying to add value to your home:

  • Property Maintenance
  • Adding Size

Property Maintenance
Treat your home like an investment. Maintain your property so that there is less to do when you are seeking a professional home appraisal. Inexpensive items include:

  • Painting
  • Carpet cleaning
  • Re-caulking
  • Replacing broken items
  • Power washing

Adding Size:
Adding square footage, bedrooms or bathrooms can dramatically increase home value. But beware. A great way to decrease the value of your property investment is to attempt to save money by doing improvements yourself – when you have no skills as a handyman.

Other Things to Consider:
Evaluate cost of project against length of time before you plan to sell. If you’re finishing a basement, fencing, or sunroom, these projects can sometime cost as much as $50,000! If you invest that much in home improvements and move shortly after project completion, you might not “gain” on your investment.

Also consider that no matter how many improvements are made on a home, locations will still carry a home value ceiling. You don’t want to outprice your home in your market by making improvements. Instead of making your home easier to sell, making that many improvements could make your house increasingly difficult to sell.

To get a free home value estimate from a local real estate professional, follow GetMyHomesValue.com on Twitter or visit our website. Type your zip code in the box on the right and follow the instructions on the following page to get connected with a real estate agent for a free home evaluation.

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