How to increase the market value of our house.

How to increase the market value of our house.

Lincolnton, NC · Member since 2015 · 6 posts · 0 votes

We have a traditional loan recently refinanced.

The mortgage is greater than the market value.

What steps can we take to reverse this order?

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  • Real Estate Agent · Buena Park, CA · Member since 2016 · 743 posts · 424 votes
    10y
    By how much? Do you have money to invest in rehab construction? Is your home in excellent ARV condition at this time? Normally if your home is already in the best condition for the neighborhood the only way to increase value is to add square footage and increase the number of bedrooms and or bathrooms.Also if your house hasn't been updated in years.a new gourmet kitchen and refurbished bathrooms,new flooring,and new paint can help increase values to a future buyer.
  • Investor · Big Spring, TX · Member since 2016 · 140 posts · 59 votes
    10y

    You have to be careful spending a lot of money on upgrades. Like expensive appliances or countertops. The cheapest route you can take is to hire an appraiser to come in and tell you what your house will appraise for AS IS and what you could do to increase the value (if any). Remember that if the appraiser says you need to buy granite counters and remodel bathrooms, you have to take into consideration the cost for the upgrades and what value it adds. If it costs you 15k for upgrades and increases the value by 20k probably not worth it. But if it increases the value by 50k then it may be worth it.

  • Lincolnton, NC · Member since 2015 · 6 posts · 0 votes
    10y

    thanks for the input! 

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