We’ve got tools and comprehensive guides to teach you how to: figure out what your house is worth, get your house prepared for sale, spruce up your curb appeal, tackle home improvement projects, and manage the maintenance costs to keep your home in peak condition. in this article:
See what your home is worth
Prepare your home for sale
Improve your curb appeal
Tackle home improvements
Manage your home's upkeep
Find ways to increase your property value
Stay on top of the housing market
What’s My Home Worth?
Enter a few details about your home and we’ll provide you with a preliminary estimate of home value in less than two minutes. This won’t replace a home appraisal, but it can be a helpful starting point
A comparative market analysis, also known as a "CMA"
is typically done by a real estate agent who compares your property with similar homes in your neighborhood. Factors that agents consider are location, total square footage, number of bedrooms, condition, and any amenities, such as a neighborhood golf course. Some agents will charge a fee of approximately $100 to $200 to do a CMA report. Other agents will provide a CMA for free as it’s considered a way to market their services to potential clients.
What factors impact home value in Texas?
Many factors in the housing market can impact and potentially increase your home value. Below, we have listed the most common items you typically are unable to change, and those you can address to help add value.
Factors you can’t change
Location – unless you physically move the house it will stay in the same neighborhood
Supply and demand – whether it’s currently a buyer’s or seller’s market is out of your control
Age of home – it was built in a particular year and it will continue getting older each year
Real estate comps – whatever the houses sold for in your neighborhood are on record
Factors you can change
Size and livable space of your home – you can remodel to increase your square footage
Condition of your home – avoid deferred maintenance by consistently managing the upkeep
Upgrades and updates – renovated kitchens and bathrooms can add significant value
What outside factors impact property values?
Additional factors can impact both the seller’s and buyer’s behavior and ultimately a home’s value during the purchasing process. Some of these factors include:
Interest rates – since interest rates have increased, Allen says people who previously put their home purchase on hold are searching again after adjusting to the higher rates
Zoning regulations – an industrial area near your home could impact noise and traffic
The economy – if unemployment and inflation are high, this can affect affordability for buyers
Supply chain and material costs – less construction decreases housing supply
Politics – if new regulations and taxes increase that can make affordable housing unattainable
Disasters – floods, earthquakes, and hurricanes can destroy property and decrease value
Hazards – trash dumps and power plants that are nearby can diminish a home’s value
Other recommendations to help increase your home’s value
“You don’t have to remodel every bathroom or every kitchen. In order to maximize your profits, there’s a large amount of money to be made just from cleaning up your house and organizing it, and making it look more spacious than it is. A lot of people just collect knickknacks and stuff over the years and they don’t see it because they live there every day,”