Do I Need To Know The Value of My Home?

Do you know the value of your home? Not many people know the current worth of their homes because they haven’t followed or researched updated estimates. It’s likely that you, as a homeowner, haven’t researched the value of your home since you purchased it. Property value fluctuates depending on many factors like the development of the neighborhood, renovation over a home’s lifespan, and the housing market — it can be difficult to keep up with the changing value of your property.

Not so long ago, the process of valuation meant spending time finding a qualified inspector and then waiting for the results. Online valuation resources have simplified the process and made the service accessible everywhere. But as a Gainesville real estate property owner, you may be wondering why you should bother looking up your home’s worth. What use does the knowledge of your home’s value have?

Why You Should Know Your Property’s Value

Selling your Home

The biggest motivation to get a property valuation is so that you can accurately price it before listing it as a home for sale in Gainesville, FL. One easy mistake that keeps properties on the market longer than they should be is poor pricing. Without an estimate of what your house is worth, it is very likely you may overprice or underprice the property which spells trouble in any circumstance. Overpricing a property causes potential buyers to lose interest as soon as they see the cost attached to it. A lower price than the true value of the home may get it off the market faster, but it also translates to a loss. By using online valuation resources from a reputable Realtor in Gainesville, FL, you can set a price that corresponds to the conditions of the home and the present market trends.

Home Improvements

Making a few renovations can boost the worth of your property considerably. A home improvement may be necessary if you are selling in a neighborhood of high-priced houses. For example, if the current sale price around your residential area is $500,000 but your home is worth $350,000, investing $75,000 or so in upgrades may allow your home to fetch the market price. Knowing what your house is worth currently will give you an idea of how much in home improvement is necessary to put in. A valuation will also be required after the remodeling to get an accurate estimate. Home improvement can also be completed for your comfort if you are not selling at the moment. When the time for a resale comes, those upgrades will pay for themselves.

Valuation 101

Home value does not equal price, and that is one concept all homeowners should remember whether buying or selling. The price of a home may be $300,000, but its value can drop if a buyer discovers a fault in the construction. Valuation acts as a pricing guide when listing Gainesville homes for sale.

No two houses are alike regardless of how similar they appear. Each property has different occupants meaning the rate of wear will vary. For instance, you may have done a bit of landscaping in your front and back yards while your neighbor down the street hasn’t. Even though the two properties may be in the same condition, yours may have more value because of its curb appeal. Such elements will factor in when listing Gainesville, FL homes for sale.

Find Your Home’s Worth

Note that a lot can change between the date of valuation and the date of sale. In a span of several weeks, the economic environment can shift, consequently lowering or increasing the value of your property. That is why the expertise of a realtor in Gainesville FL is critical.

Team Dynamo can help when you’re in need of professional online home valuation in Gainesville. Whether you are looking to buy or list a home for sale in Gainesville, FL, our real estate agents can be trusted to guide your choice. We’ll help you attach the right price to your property listing thereby gaining an edge over the competition. Eliminate the guesswork in property valuation with Team Dynamo.