Evaluating Your Home’s Value: The Basics
You likely remember what your house cost when you moved in. You might even remember your down payment amount! But when it’s time to pack your things for a new property, it’s easy to forget: in terms of “home value,” you’re not moving out of the house you moved into.
Sometimes—if, for instance, a shopping mall opens nearby—your property value can rise without you lifting a finger. But more commonly, value changes come down to owners’ hard work. For example, when you replaced your carpeting with hardwood, that added to your home’s value. So did the summer you spent staining the veranda; your Christmas bonus splurge on granite countertops; and your top-to-bottom basement renovation.
There’s a flip side to home value, too. Numerous factors (even normal wear-and-tear) can reduce the size of the offers you’ll likely receive from buyers. All in all, determining your home’s current worth is a daunting task for even the most DIY, detail-oriented sellers. Attempting to “ballpark” this figure solo is not recommended: before settling on a goal selling price, it’s wise to consult a mortgage professional.
As a mortgage professional, I’m happy to be your first point of contact when it comes to determining your home’s listed price. I can assist you in obtaining a clear picture of your home’s bells and whistles, as well as its flaws. I can also inform you as to whether a more comprehensive evaluation is necessary. I’ll help you determine your home’s current value–allowing you to sell your property at the best possible price, as quickly as possible.
I hope you’ll contact me for help evaluating your home’s value, or for assistance with any other mortgage-related questions you might have. I look forward to hearing from you!
Easy ways to keep more money in your pocket
(NC) It goes without saying that most of us would appreciate a little more money in our pockets. Believe it or not, it’s actually an achievable goal. In fact, a few simple tips can help you uncover meaningful savings each and every month. Need some ideas? Here’s a little inspiration to get you started:
- Pack food from home for lunches and snacks. Skip sandwich bags and opt for reusable containers, cutlery and drink bottle.
- Switch light bulbs to CFLs. On average, it costs $250 a year in energy costs to light your home with incandescents. Save $150 by going with CFLs. They’re more expensive initially, but will last 10 times longer.
- Review and negotiate your service plans––phone, internet, cable and television content.
- Invest in topping up your insulation. Attic insulation can settle and compact over time, diminishing its original R-value and increasing heating/cooling costs. Topping it up with a quality batt insulation, like Roxul Comfortbatt, will immediately help improve the comfort of your home and reduce your monthly energy bills.
- Pay off credit card debt and swap cards for lower interest rate options.
- Install low-flow water fixtures to cut down on excess water consumption.
- Lower your thermostat by two degrees in cold weather and increase it by two degrees in warmer weather.
- Launder your clothes in cold water and at off-peak times.
- Avoid impulse shopping. Stick to your list and avoid “window shopping,” which tends to draw buyers in.
- Save money on entertainment by looking for free activities. For options in your area, try a simple internet search. You might be pleasantly surprised at the wide variety of activities and entertainment available for no or low cost.
Collectively employing the tips above could potentially add up to thousands in annual savings, proving that sometimes change can be a good thing.