A Quick Guide to Pricing Your Home
Did you know that your home property value in Boca Raton is useful for more than just selling your home?
Knowing your home property value in Boca Raton allows you to take advantage of several opportunities including:
- Refinancing
- Home improvements
- Obtaining additional income
- Preparing yourself
- Selling your home
In this post, we explore ways that knowing your home property value can benefit you and your family. We also give you steps you can take to determine your property value so you can start taking advantage of these benefits.
1. Refinancing
Refinancing your home is a great way to save money. It can help you to get better overall terms including lower monthly payment, lower interest rate and allows you to take cash out for expenses. Knowing your home property value will inform your decision on the amount of mortgage you get.
2. Home Improvements
Some homeowners make home improvements to increase their enjoyment of their space. Still others make improvements in the hopes that they will be able to get a higher asking price for their property in preparation for selling. Regardless of the reason, there are some instances where home improvements can actually decrease the amount of money your home is worth.
Let’s look at an example: assume your home is already worth more than your neighbors. If you have an eye on selling and making home improvements, your home may become worth significantly more than other homes in the area. This can actually hurt your chances of a homebuyer making an offer because they can get another home in the area for much less.
Bear in mind that not all home improvements add value to your home, so unless you are making the improvement for your own enjoyment it’s best to speak to a realtor to see how improvements affect your value.
3. Obtaining Additional Income
In some instances, refinancing your home for a cash-out isn’t the best way to obtain additional income in an emergency. Some homeowners will be better served by obtaining a Home Equity Line of Credit, or HELOC. Getting a HELOC is largely dependent on the amount of equity you have in your home. Without a clear idea of what your home is worth, this avenue for additional income may be closed for you.
4. Being Prepared
It’s an unfortunate reality that unexpected things happen. Whether it’s an illness in the family, the loss of employment, or a necessary move for other reasons, the more prepared a homeowner is to face the unexpected, the better. Having an idea of what your home is worth will make you better prepared for life’s unexpected challenges.
5. Selling Your Home
Finally, as you may already know, it’s important to know the value of your home before you sell. After all, if you don’t know what your home is worth, how can you know how much to ask for it?
Asking too much for your home can dissuade potential home buyers from wanting to purchase your home. A price that is too low may catch the attention of potential home buyers but selling too low means that you are missing out on potential profits. To get the right mix of profit and homebuyer interest, your property needs to be priced accurately.
Find Out More About the Benefits of Home Property Value in Boca Raton
As you can see, the benefits of home property value in Boca Raton are numerous. When you’re ready to sell your home, the easiest and most accurate way to find out your home’s worth is with a comprehensive comparative market analysis performed by an experienced realtor. This market analysis compares your home to others listed and sold in your area. It is completely customizable so you can rest assured that your home’s unique features will count in your favor.
At Your Home Sold Guaranteed Realty - Loffredo Real Estate Group we know that your home is your most valuable asset and that knowing the benefits of home property value in Boca Raton are important for many reasons. That’s why we strive to give you the best information possible on what your home is worth.
We guarantee that our comparative market analysis will give you the information you need to make an informed decision about your financial future. No matter what life throws your way, Your Home Sold Guaranteed Realty - Loffredo Real Estate Group is here to guide you throughout your real estate journey. It’s why our clients trust us time and time again for their real estate needs! To give you the most accurate and up-to-date analysis, call us at (561) 220-5015 or contact us online here. We look forward to helping you with your home needs!
