February 28th, 2010 → 6:26 pm @ admin // 3 Comments
I am almost finished remodeling my home and want to know how to find out the value, it was in need of major repair when I bought it and I have replaced alot of main features including all Flooring, Complete Kitchen, Windows, Landscapeing , paint, trim, doors, outlet and swicth cover, all light fixtures ect. You get the picture, pretty much everything. The house also had a horrid dog and cat smell , they were allowed to piss and poop everywhere and anywhere, so hence the floor replacement, and even went so far in some areas to replace the drywall. the house is totally unreconizable and was way under valued when it was priced by my mortgage company , they told me that they were surprised at the number given the area, and I was like you have to see and smell the place…..LOL But now what do I do to find out how much it is worth with all the work I have put into it? I want to cover it properly with my Insurance company and I would like to do more improvements to the house.
Tags: After, Equity, Find, House, Insurance, Much, Purposes., Remodel, Worth, Your
ffperki
6 months ago
Have you seen the tax assessment this year? This is a good rule of thumb. The tax rate is set according o square footage and it does not take into account the repairs that need to be made or not. Look at similar houses in your neighborhood that are up for sale what they are asking will also be pretty close and the third thing that I would do if it was mine and that is I would look in Zillow.com they will show your house and it’s approximate value. There is one other thing that I might do and that is call a mortgage company and ask them to evaluate it as You are thinking about refinancing it. They will send out a appraiser. I suppose that you could also look in the telephone book for house appraisers. I was just thinking before I go I will leave with one more suggestion, call you home owner’s insurance company and ask them to send a appraiser so that you can up grade your insurance with them.
Rebecca
6 months ago
The kitchen to a certain point will add the most value of the things you listed. The others though they cost you money are more like maintenance.
Very few remodel projects will bring the full cost of the project in added value. And many you have listed will do nothing to INCREASE the value above the going price for your neighborhood.
Free Thinker
6 months ago
You can get an appraisal which will cost $300-$400
Or
You could call a few realtors and ask them to do a Comparative Market Analysis.- Free
Ask your insurance company what they will accept so you don’t waste your money.
Just a side thought; if your house appraises for $200k but a realtor tells you it is worth $150, I’d believe the realtor over the appraiser because they know the market!