Why You Need to Know What Your Home is Worth

Saturday, June 4, 2016 | 7:26 pm

At some point, every homeowner asks the question, “What’s my home worth?” The answers can vary – here are some easy estimating techniques – and reasons why you should pay attention to this number.

People want to know what their home is worth periodically just as people check in on the value of their stock portfolio. There are as many online opportunities to request a Current Market Value report as there are agents with a website.

You just need to fill in the bare facts on such sites as bedroom and bathroom count; square foot of living space; lot size; and whether or not you have a pool. Use this information to help you estimate the price range of your home. Then apply your own opinion of how your house stacks up against similarly sized homes in your area. Once you’re armed with this knowledge you can plan your selling and upgrades budget.

Many sellers want to know what kind of return they are likely to get from an investment in upgrades to their home. Or asked another way, how much less they will likely get for their house if they sell it the way it is. This is a tricky area when it comes to the math, but suffice it to say that recent upgrades in the current style, finish, and fashion will fetch more money than a home with no upgrades, or upgrades done 20 years ago that are no longer in step with the current trends.

If you need some more help with estimating the value of your home, contact Christian Almada who is a member of Endeavor Realty, located at 548 South Lake Avenue. Call (626) 255-4266 or visit www.endeavorrealty.com for more details.

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