A Quick Guide to Pricing Your Home
In today’s uncertain economy and market, knowing the true value of your assets is important. If you’re a home seller, you’ve probably heard about the benefits of home property value in Fort Lauderdale. But, are there benefits of home property value in Fort Lauderdale even if you aren’t selling your home?
Yes! A few situations where knowing your property’s value is helpful include:
- Knowing whether to refinance
- Deciding on home improvements
- Obtaining additional income
- Preparing yourself
- Selling your home
1. Knowing Whether to Refinance
One great way to save money is by refinancing your home to get better loan terms. Refinancing can help you get a better rate, a lower payment or allow you to take cash out for other expenses. Generally, the more equity you have in your home, the easier it will be to refinance. Before you’re able to do so, however, you need an accurate pricing of your home. Knowing the value of your home can help determine how large of a mortgage you can take.
2. Deciding on Home Improvements
You may be considering making home improvements for two reasons: improving the house for your enjoyment and to prepare a home to be placed on the market.
However, home improvements don’t always equal bigger profits. For example, if your home is already priced high for your neighborhood, making additional improvements will likely increase your value to the point where it is substantially higher than other homes in the neighborhood. This can cause your home to linger on the market, requiring one or several price reductions. In some cases, making improvements on your home can cause you to lose money! Having a firm idea of the value of your home can help you decide whether home improvements are right for you.
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. Preparing Yourself
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, make sure to price your property accurately.
Find Out More About the Benefits of Home Property Value
As you can see, the benefits of home property value in Fort Lauderdale 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 Fort Lauderdale 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!
