Q&A WITH VALUERIGHT LLC
Q: I’m getting ready to sell my home, should I remodel it before I put it on the market?
A: Generally speaking it is not a good idea to remodel a home if you are planning to sell within a short time. The reason for this is that most remodels will cost more than what you will gain in property value. There are exceptions of course, especially if the home needs repairs necessary to sell the home close to market prices. It is a good idea to consult with an appraiser familiar with your market, as they can best gauge what property values with and without remodels are, and provide some guidance.
Q: I’m getting ready to buy a new home, and the bank is getting the appraiser. Should I wait for the appraisal or hire a home inspector to find out about the condition of the home?
A: Absolutely get a home inspector every time you are putting an offer to buy a home, even if it is a brand-new home. The reason is that the home inspector will perform a more in-depth inspection of the home’s structure, electrical, plumbing, roof and other components and let you know if there are any issues – especially major issues that will cost a lot to fix. An appraiser’s level of inspection is not as in-depth because the appraiser is looking at the overall condition, and not necessarily a specific area. So getting a home inspector is crucial so you make the most informed decision when it comes to making an offer to buy a home.
Q: Does a home need rain gutters?
A: While having rain gutters may not alter the value of the home significantly, in many parts of the country (especially in wetter climates with poor soil) the gutters will help divert rain water away from the home’s foundation, and will help keeping the home from having foundation settlement or other structural issues that may cost more as the home ages.
Do you have a home appraisal question? Leave a comment and we will do our best to get you some answers.