Dallas Home Appraisals News and Information

If you are selling or thinking of selling your home, or if you are considering updating your home with an eye toward a future sale, check out this article on what buyers are and aren't looking for in a home. 

Most of the tips are pretty good, though some - depending on where you are in the process - may not be all that helpful.  For example, if you are selling a home, it is too late to do anything about the location or any overimprovements.  But other tips can help you get the most out of your property. There are some good points about what turns buyers off - and on.  We are finding for instance that homes that have either been totally updated or not updated at all are selling better than homes with partial updates.

When looking for a home, many buyers don't consider resell value because they are planning to stay in the home for a number of years.  But things happen, good and bad, and you may find yourself selling before you thought you would.  A corner house on a busy street, or a house that backs power lines, might be your dream home but not someone else's.  Be sure that you know how external factors will affect your home's market value.  If you fall in love with a house that has been on the market for 6 months to a year, be sure you understand why so that you can assess how long it might take you to sell the same house.

One of the most difficult scenarios we encounter as appraisers is the home that has been "overimproved".  We see homes all the time that have been lovingly improved by the owner - marble, granite, hardwoods, etc. - who then doesn't understand why their appraisal doesn't reflect all the money they've put in.  Simply put, your home is competing against other homes in your neighborhood, and if they are not similarly improved you are only going to see a fraction of what you spent reflected in the appraised value. 

Before you make any improvements to your home, especially big ticket improvements, it is prudent to get an appraisal that will tell you what the market value of your home is likely to be when you are finished.  Many times it will simply confirm that you are on the right track, other times it might encourage you to scale back your plans.  In any case, it is worth considering.  Contact us at Blue Star Appraisals to discuss whether a pre-renovation or remodeling appraisal would benefit you.