10/18/2021
You get a note every year from the appraiser and often, your value will have changed from year to year. But why is that?
It’s all about the different components of property value.
Your home doesn’t exist in a bubble. When an appraiser values a home, they take a lot into consideration including the neighborhood, the market, and the overall location of the home. You unfortunately can’t control these factors of your property. So if you’re buying, pay special attention to these so you make a good investment.
The value is also based on the home and aspects you can control. If you keep your home in good condition and make improvements to it, you’ll likely see the property value increase. And that means that, when you’re ready, you can sell for more and make a profit.
Have any questions about property value? Send me a DM!