Determining the value of your home before it goes on the market

Photo Credit: <a href="">hibino</a> via <a href="">Compfight</a> <a href="">cc</a>

Photo Credit: hibino via Compfight cc

Before you begin your retirement, you might consider selling your home to optimize your retirement savings. Knowing how much your home is worth before it goes on the market will help you sell your home faster and make decisions about your new home designed for simplified senior living. While you will need to consult a professional home appraiser for an exact value, you can get an idea of what your home is worth by answering these simple questions.

Where is your home located?

Any real estate agent will agree that location is critical when it comes to home value. If you live within a top-rated school district or there is easy access to public transportation or area attractions, your home may pull more weight in the market than a home of the same size located in a less desirable area.

How old is your house?

The age of your home is a leading consideration, because older homes often require repairs or renovations to appeal to modern buyers. However, you will want to avoid making major investments in your home if you are selling in the near future. While you will have to list at a lower asking price, you will save money in the long run by letting the new owners flip the bill for repairs.

What types of upgrades have been made?

If you have already invested in a home remodel within the past five to ten years, this can pay off when you sell your home. Buyers are looking for upgraded kitchens and bathrooms with modern fixtures, so these should be heavily advertised when you do place your home on the market.

If you are looking for an independent living community to help you downsize in comfort for your retirement, visit the Lakes at Waterford to take a tour of their luxurious townhomes. Connect with the Lakes by visiting their website or by calling 630-585-8047. 

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