Will You Be Surprised by anything in Your Home Evaluation?
A home evaluation is one of the first steps a lot of homeowners take when they are moving towards putting their home on the market, so they can sell it and purchase something new. The purpose of a home evaluation is to decide what the home is worth.
The person who evaluates your home will point out the problem areas of the home and tell you what could be fixed to improve the value. There are a lot of crazy things you will learn from your home evaluation which might surprise you.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
Your Neighbour Affects the Price of Your Home
If you have a neighbour with an ugly home or a noisy neighbour, you have to keep in mind that you have to give the home inspector and potential buyers this information. Unfortunately, this information does decrease the value of your home. People are going to look at the homes around your home when deciding whether or not to buy it.
Changes in the Area Around Your Home Affect the Price
If businesses around your home have started closing or homes are selling for lower prices, the overall value of your home will be affected. Unfortunately, there is not a lot you can do to control the things happening around your home. All you can do is accept the fact that it will make your home less or more valuable depending on whether the changes around your home are positive or negative.
Over-Renovation Can Cause the House Not to Sell
While some renovations may be somewhat necessary to due the home's age or severe condition problems, sellers need to be careful when choosing to make upgrades solely with the intention on attracting buyers. The bottom line when considering what you should and shouldn't do, an experienced real estate agent should be consulted before taking any major steps for a number of reasons.
To begin with, local agents have a good understanding of the local real estate market and just how much current buyers are willing to pay for certain upgrades and renovations. Furthermore, they also know which investments bring the best return on investment when it comes down to the final selling price. Too many upgrades can result in owners taking a loss on renovations due to having to sell for less than what they invested, so consult your agent to determine what's best in each particular situation.
Renovations Might Not Matter
Everyone has their own opinion of the perfect house. In most cases, it is better to sell a house as is than to try to make renovations. You do not want to make changes to the home and end up not getting your money back.
Remember to take the advice of a home evaluation with a grain of salt. It does matter, but it is not the end of the world.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.