How much is your home worth?
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Though the most common reason someone may want to obtain their home value is because they are considering selling, that is not the only one.
Here are some additional reasons why a home valuation may be necessary:
If you are considering refinancing your home, knowing its value can help you determine how much equity you have and what kind of mortgage rates you might be eligible for.
If you’re doing home improvement projects to increase the resale value, you want to make sure you’re not pricing it out of the market. When you get a valuation, you can see how your home compares with others in the neighborhood and let this guide your home improvement decisions.
Knowing the value of your home can help you understand how much equity you have and how much you could potentially borrow against it.
Property taxes: The value of your home can affect how much property tax you owe, so it's important to have an accurate understanding of its value.
Though it’s not a necessity, simply knowing the value of your home is good information to have. It will help you plan for the future and deal with unforeseen circumstances when you might be in a position that requires extra money or a quick relocation. Knowing how much equity you have in your home and how much you may be able to borrow against it or sell it for will help you respond to any financial curveballs that life throws at you.