Home Assessment Tips

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House values

There are a number of factors that can determine house values. Firstly, location is a huge deciding factor in determining the property value for new homes, and as well as, new homes. If there are two identical homes built in different neighborhoods, the home located in the better neighborhood will have a higher house value. Next the condition of the home is also factored into its house value. New homes are generally in ideal conditions so they may be more expensive than older homes.

Lastly, the economy determines how much someone is willing to pay for your home. The more money people have the more they are willing to spend, and vice versa. If you are attempting to get the highest house value for your home make sure that you take all of these factors into consideration. Selling your home during a recession will not guarantee the greatest house value possible. In addition, investing some money into the renovation of your home can potentially net you a greater house value, and essentially a greater profit.


What is a Home Inspection?

A home inspection is an inspection that is conducted before you buy a home. In the United States, it is part of the contract that a home cannot be sold until it receives a home inspection.

A home inspector will go to the home, inspect the basement, heating and air unit, roof, plumbing, electrical and other areas to ensure that the home does not need any major repairs and that it is safe. Although, the home inspection is pretty thorough, it is important to note that a home inspector will not uncover all problems that may exist. There is a list of exclusions like boundaries, zoning or coding violations, soil conditions, water quality, any potential noise interference and buried cables to name a few.

A home cannot fail inspection. There is no grade given. A home inspection is just an examination of the current condition of the house. The home inspector will only detail the current condition, noting any any minor or major repairs that may need to be done.

A home inspection is not an appraisal, so it will not tell you what the home is worth. The appraisal is done by a real estate appraiser.


Home Worth

Many people are interested in selling their home but are unsure to what their home worth actually is. You can find this out by a couple of different ways. The first way is by looking at comparable houses in your neighborhood that are similar to yours. Make certain that you take into account all the factors of both homes though so you are as close to accurate as you can be. If you have a 3 bedroom, 2 bath house with 2 acres make certain that you are looking at something that is close to what you have.

The second way to find out what your home worth is by having a real estate agent come by to give you an estimate for what they would sell your home for if you were to place it on the market. This process will not cost you anything and may give you a better idea as to what you need to do if you decide to place your home on the market for sale. The real estate agent can give you some tips to help you along the way to make the sale go much smoother.

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Linda Handiak