As one of your most valuable assets, it’s important to know your home property value in Irvine. Not just for home sellers, having an accurate home value will help you in a myriad of situations including:
- Knowing whether to refinance
- Deciding on home improvements
- Obtaining additional income
- Being prepared
- Selling your home
In this post, we look at each one of these situations and let you know how your property value will influence your actions.
1. Knowing Whether to Refinance
Getting better loan terms is a great way to save money on your home. Refinancing can help you get a lower rate, lower monthly payment or even to take cash out for expenses. The more equity you have in your home, the easier it will be to refinance.
Before you can start saving money on your home, you need an accurate home value. This value will be the basis of how much of a mortgage you can take out.
2. Deciding on Home Improvements
The right home improvements can increase your home value and your enjoyment of your home. But beware: home improvements don’t always lead to higher sales profits. In some cases, home improvements cause your home to be so much higher priced than other homes that it becomes hard to sell. Your home may linger on the market for months or even require a price reduction. To prevent that, know what your home value is ahead of time and how it compares to the other homes in your area.
3. Obtaining Additional Income
In some instances, refinancing your home for a cash-out isn’t the best way to obtain additional income in an emergency. Some homeowners will be better served by obtaining a Home Equity Line of Credit, or HELOC. Getting a HELOC is largely dependent on the amount of equity you have in your home. Without a clear idea of what your home is worth, this avenue for additional income may be closed for you.
4. Being Prepared
It’s an unfortunate reality that unexpected things happen. Whether it’s an illness in the family, the loss of employment, or a necessary move for other reasons, the more prepared a homeowner is to face the unexpected, the better. Having an idea of what your home is worth will make you better prepared for life’s unexpected challenges.
5. Selling Your Home
Finally, as you may already know, it’s important to know the home property value in Irvine before you sell. After all, if you don’t know what your home is worth, how can you know how much to ask for it?
Asking too much for your home can dissuade potential home buyers from wanting to purchase your home. A price that is too low may catch the attention of potential home buyers but selling too low means that you are missing out on potential profits. To get the right mix of profit and homebuyer interest, your property needs to be priced accurately.
Find Out More About the Benefits of Home Property Value in Irvine
As you can see, the benefits of home property value are numerous. When you’re ready to sell your home, the easiest and most accurate way to find out your home’s worth is with a comprehensive comparative market analysis performed by an experienced realtor. This market analysis compares your home to others listed and sold in your area. It is completely customizable so you can rest assured that your home’s unique features will count in your favor.
At Your Home Sold Guaranteed Realty - Rudy Lira Kusuma Real Estate Team we know that your home is your most valuable asset and that knowing the benefits of home property value are important for many reasons. That’s why we strive to give you the best information possible on what your home is worth. We guarantee that our comparative market analysis will give you the information you need to make an informed decision about your financial future. No matter what life throws your way, Your Home Sold Guaranteed Realty - Rudy Lira Kusuma Real Estate Team is here to guide you throughout your real estate journey. It’s why our clients trust us time and time again for their real estate needs!
To give you the most accurate and up-to-date analysis, call us at 626-789-0159 or contact us online here. We look forward to helping you with your home needs!
