Today’s volatile markets make knowing your home property value in Monterey Park more important now than ever. Most home sellers have heard about the importance of having an accurate home value, but fewer understand all the great ways it can benefit them. Even if you aren’t planning on selling your home, a home value can help you in several homeowner situations:
- Knowing whether to refinance
- Deciding on home improvements
- Obtaining additional income
- Being prepared
- Selling your home
Follow along as we look at each situation and let you know how having a solid home valuation in place can help you achieve your real estate goals.
1. Knowing Whether to Refinance
Like most homeowners, you are probably always on the lookout for ways to save money on home costs. One surefire way to save money on your home is to refinance it for a lower interest rate or a lower payment. You can also use your home value to take cash out for expenses. Having an up-to-date home value figure will also guide you in knowing how large of a mortgage to take out.
2. Deciding on Home Improvements
Home improvements can be a fun and exciting way to make your home feel new again. Whether you are completing home improvements for your own enjoyment or in preparation for a sale, having your home value is vital.
Bear in mind that home improvements don’t always lead to a higher sale price. For instance, if home improvements cause your home to be priced significantly higher than comparable homes in the area, you could scare off potential homebuyers. Knowing in advance what your home value is can help you decide whether making home improvements is right for your family.
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 Monterey Park 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 Monterey Park
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!
