I often hear that an individual has made some improvements to their home and now they are asking me, “So, how much is my home worth?” In order to answer that question, we need to dig a little deeper.
The first thing that we will need to do is look at comparable properties on the market. This is one of the most important things that we can do when answering that question, “How much is my home worth?” Finding a list of comparable properties helps us know if what you are looking for in your home is reasonable. Just because you put $20k into kitchen improvements doesn’t mean you will get that back out. In some cases, it may be more, in others it may be less. Looking at the market and comparable properties are some of the best ways to nail down a price for your home.
The next thing that we will need to do is look at the property itself. Even if the improvements on your home were done by professionals, if they were done too personally, you might end up with a very nice home that ends up sitting on the market. If you intend to move, keep the improvements neutral to keep your house from sitting on the market for a long time, waiting for someone of similar tastes to come along.
Are you wondering about your home’s current value after improvements? Instead of just wondering, “How much is my home worth?,” go ahead and give me a call and let’s get some facts and hard numbers to work with!