Importance of a Home Evaluation
Are you a homeowner thinking of putting your house on sale in Guelph, Kitchener, Waterloo or Cambridge? Before you put your house up on the market, don’t forget the importance of a home evaluation to get the right price tag on it!
Get a Home Evaluation Before You Put Your House On Sale
Before you put up a “For Sale” sign, you need to really know what your home and property is valued at in the current real estate market. If you skip out on a home evaluation, you’ll be missing important information that can greatly help the home selling process, including how fast you could sell.
When you get a free home evaluation by a real estate agent or broker, you’ll learn what your home’s current value is. This is great because you’ll have an idea of comparables. Comparables let you know what the value is like compared to other homes that have sold in your area. A licensed real estate agent with a Market Value Appraiser designation (MVA) has the ability to evaluate and give you the numbers you need to know.
What is Accounted For During a Home Evaluation?
During a home evaluation, your agent will look at both the interior and exterior of your home. The evaluation will determine if there are any deficiencies in your home, such as unfinished rooms, old finishes, and floor tiles that are broken. Rooms that are unfinished or areas that need a little extra TLC from the future homeowners are noted during the home evaluation. If there are multiple amenities that need improvements, it will bring down the overall market value, especially if other homes in your neighbourhood have updated and newer amenities. Your real estate agent may suggest that you take care of some of these amenities before you put your house on the market to get the most profit possible.
When evaluating the exterior of your house, your real estate agent will look at a couple of items. Real Estate in Guelph, Kitchener, Waterloo and Cambridge has become more sought after because these areas have larger lots and parking spaces available. The size of your lot, the parking space you have, and your exterior finishes are all a contributing factor to how your house is evaluated on the outside. Your agent will compare your house exterior to others homes the area to see how it compares in market value. Although you don’t have the option to change your lot size, you can make minor cosmetic changes that will enhance the value of your home, such as adding in a deck to your backyard or updating your roofing.
The Market Value Appraisal of your home will be determined through the comparables your real estate agent gathers, the age of the structure, and your location. If you do choose to make any updates or changes to your home, be sure to let them know so they can re-evaluate your home before your put your house on sale. Sometimes the smallest renovation projects will have a significant impact on the market value of your home.
Your Home’s Market Value Can Change Over Time
Let’s say that you do decide to have a home evaluation, but aren’t prepared to actually sell your home. Having a Market Value Appraisal does give homeowners an idea of what their home is valued at in the current market and what it could sell for, but that doesn’t necessarily mean it will remain at that price bracket in the future.
An agent’s job is to keep track of market trends and home values in the current real estate market, meaning that their estimate will let you know what your house sits at in the current market and in the current economy. As the numbers in the real estate market and the Canadian economy change so do home prices. If your last home evaluation was a while ago and you are now considering putting your house on sale, get in contact with a real estate agent to have a home re-evaluation. It is important to know what your home is worth and what it could sell for based on external factors that you don’t have control over. An experienced and knowledgeable real estate agent will get you back up to date with the market and give you a more accurate idea of what you can expect when you put your house on sale.
Experienced Real Estate Agent for a Free Home Evaluation
If you are looking to sell your home in Guelph, Kitchener, Waterloo or Cambridge and need a free home evaluation to get you on the right path, don’t hesitate to contact me, Deb Olender.
I am an accredited Market Value Appraiser with years of knowledge and experience in the Guelph real estate market, as well as the markets in Kitchener, Waterloo and Cambridge. Clients have trusted me with Free Home Evaluations to give them an honest and reliable report on their home’s current market value. Before you put your house on sale, take advantage of my free, no obligation opportunity to have your home evaluated. I think all home owners should know the most they can about their current property before putting their house on sale and setting their sights on a new one.
For more information, please check out my Free Home Evaluation Form, or contact me directly at 519-993-5656. I am ready to help you get your house on sale in Guelph, Kitchener, Waterloo or Cambridge, and all it takes is a home evaluation to get started!