It’s a good question. What is your home worth?
If you Googled that specific question, you’ve been introduced to the plethora of home value estimators, evaluators and best guesstimates on the World Wide Web. You were given an average, you know the range.
If you visited Zillow, you may have received a Zestimate that was significantly less than what you paid for the home not more than 5 years ago. Zillow is quite capable of raising your blood pressure and… well, that’s about it. Yep, I said it, Zillow lies. In fact, none of these widgets can be trusted with your brand new, state of the art kitchen renovation with Thermador appliance package, extensive outdoor living spaces and tricked out Master Spa with Sofa Lounge. Whatever you’ve done to make your home special and unique and different from others, upgrades that absolutely set it apart, will not be taken into consideration. Not by entering your address on any given “what’s my home worth” site, whilst you wait, up to 27 seconds, for a response that will tell you how much you can expect to recover on the sale of your home. Those figures are unavailable.
You’re provided an average. You know the range.
So then, for fun, let’s jump to the house next door albeit the one that lives at the other end of the spectrum — the extreme end where the only thing the Homeowner has done since moving into the home 10 years ago, aside from living in it, is mow the lawn, occasionally. This side of the spectrum is important for the purpose of this comparison.
In this sizable home, the Kitchen and Baths are outdated – where a simple up-fit of new appliances, counter tops and hardware will not turn it around. The furnace, the overloaded 100 amp service and the architectural shingles, while still functioning as intended, have aged out and are limping along. In this home, you can’t see all the band aids, but upon further investigation we learn they’re there.
Structurally, who knows? No one’s been in the crawl space because it’s too scary in there, but a quick trip in and around the house to survey probable wear and tear causes concern. You can easily identify several areas of dilapidated boards with considerable wood rot at doors and windows and the sagging ceilings and hardwood floors may be an issue too. These figures, too, are unavailable.
On paper, according to the sold comps, these 2 homes are just that – comparable; comparable style and construction, location, lots, footage, beds and baths, sure, but desirability? Not even close.
One is custom and turnkey, the other, not so much. A blank slate is nice, but starting over is expensive and the buyer pool with an appetite for major renovations is fairly shallow by comparison. A “what’s my home worth” on-line evaluation is incapable of assessing upgrades and pristine conditions or property declination. You must consider the minutia of any given home.
Not everyone, not surprisingly, considers their home an extension of themselves and with said home, the opportunity to reflect their artistic vision via creative renovation endeavors. I think most of us live somewhere in the comfortable middle, in the kitchen that looks nothing like the cutout taped to the fridge (from a favorite high-end kitchen and bath magazine) that’s been highlighted and noted, “One Day.”
We live in good houses and attractive homes that need to be priced smart to sell when a poor decision, high or low, on listing price could effectively cost you tens of thousands of dollars.
If you’re thinking of selling your home, you need a real estate professional to determine actual market value of your home.
And I know what your home is worth.
Before & After: An example of an Investment Property in Charlotte’s Arts District improved for substantial gain.
Surely your home looks nothing like the former — these videos are intended to illustrate marketing techniques (using full motion video and high definition photography) and thoughtful preparation to achieve the highest price possible for any home.