5 Reason Why You Need to Know Your Home's Worth

Knowing your home’s market worth is more than just a number.  It is your key to making informed decisions.  Here are five reason why you should have a market analysis done on your home.

1. Refinancing: If you want to refinance your mortgage, lenders will look at your home’s current value to determine how much you can borrow and at what rate.

   1. You want to know your home’s worth before going to talk to the bank.

2. Home equity: Your home equity is simply the difference between what your home is worth and what you still owe on your mortgage—and knowing that number gives you real financial power. 

   1. You need this information  if you’re thinking about taking out a home equity loan or line of credit.  

   2. If your home has appreciated, your Loan-to-Value may have improved giving you more borrowing power.

3. Selling your home: If you're planning to sell, knowing the market value helps you set a competitive price. 

   1. Price it too high, and it might sit on the market.

   2. Price it too low, and you could lose money.

   3. You want to be able to negotiate from a position of strength and be able to back up the reason for your asking price.

4. Property taxes: Your home's assessed value is often tied to property taxes. If you think it’s assessed too high, knowing the true market value could help you appeal and potentially lower your tax bill.

5. Insurance purposes: Having an accurate idea of your home's worth can help ensure you’re not under- or over-insured.

6. Investment decisions: Whether you're thinking about upgrades, renting it out, or selling to invest elsewhere, knowing the value helps you make smarter moves.

   1. You don’t want to sink more money into your home than you would get back when you sell it.

   2. You want to have a good idea of what your home is worth when leveraging your home in long-term investment or retirement strategies.

Do you know how much you have in your bank account?  Well, knowing what your home is worth is the same thing.  It is part of knowing how much money you have. Simply put, know whay your home is worth is a SMART think to do.

We offer complimentary, no obligation Home Market Assessment.  We are not only here to sell you home, we are here to help you plan for the present and the future.