Knowing Your Home’s Value for Home Improvements

As we’ve talked about, there are a number of different reasons for knowing your home’s current value, even if you aren’t in the market to sell. In the Carmel and Westfield real estate markets, home improvements, when done right, can build up a homeowner’s equity. Whether you’re a do-it-yourselfer, or hire a contractor to take care of your improvements, remodeling and upgrades can bring in more money when it comes time to sell.

Knowing your home’s current value can help you decide whether or not now is a good time to make improvements. It can also help you determine whether certain upgrades will up the equity of your home and bring a good return on investment.

After determining your home’s current value, compare it to home values in your neighborhood and similar neighborhoods in the area. If your home is one of the higher priced in the neighborhood, doing major improvements probably won’t bring you additional money in a sale and may even price your home out of the neighborhood. However, if you’re on the lower end of the price spectrum for your neighborhood, choosing smart upgrades can help your home get top dollar when it comes time to sell. Smart upgrades can include updating kitchens and baths and finishing basement spaces.

If you’re thinking about remodeling, I can help guide you to decide what improvements to make that will give you the biggest bang for your buck. I can also help you find contractors in the Carmel and Westfield areas to help complete your projects.