If you’re preparing to sell your North County San Diego home, then it’s obvious why you need to know the value. You need to be able to price it appropriately to put it on the market. But here’s a secret — there are many other reasons why it benefits you to know the value of your home. The value of your home is not necessarily what you paid for it. What your home is worth changes over time and is influenced by local market conditions. Let’s take a closer look at when you might need to know the value of your home, and how to find out what your North County home is worth.
When you’re selling your home
You absolutely need to know the value of your home when it’s time to sell. It helps you to price your home correctly when you list it. It also gives you an idea of how much money you’ll make on the transaction. Your profit will be what remains after you subtract your loan balance and selling costs from the selling price. Pricing your home right ensures you’ll make the biggest profit possible in the shortest amount of time.
When you’re refinancing your home
With mortgage interest rates at all-time lows, many homeowners have decided to refinance their loans. But you need to know the value of your home in order to know how much of a mortgage you can qualify for. There are many good reasons to refinance, including getting a better rate, lowering your monthly payments, or even getting cash for other needs. Knowing the value of your home will help you understand how much equity you have, which will influence the rate and terms of the loan.
When you’re taking out a line of credit
For those homeowners who already have great rates on their mortgages, refinancing may not make sense. But you can still take out a Home Equity Line of Credit (HELOC) in order to finance other purchases like tuition or home improvements. But you must have a certain amount of equity in order to qualify. Knowing what your home is worth will help you determine if you can apply for a line of credit.
When you’re making improvements to your home
There are two big reasons to make improvements to your home. One is to make it more comfortable for you to live in. The other is to increase the value when it’s time to sell. This is another reason why it’s important to know the value. If your home is already on the high end of value in your neighborhood, then investing in expensive home improvements may not make financial sense.
Find out what your North County home is worth
So just how do you find out the current value of your North County San Diego home? It’s easy! Simply visit our website, provide your address, answer a few simple questions, and you’ll get a comprehensive report in 35 seconds. There is no obligation and best of all — the report is free!
Contact the Clark & Gilman Team today
Are you ready to buy or sell a North County San Diego home? Then contact the experts at the Cristine Clark & Jamie Gilman Team at 760-758-1211 or [email protected]. We’re standing by to answer all your questions and help you through every step of the real estate process!