What's Your Home Worth?

This is a great article from CNNMoney – “What Your Home Is Really Worth.”  Appraisers are looking for similar properties preferabley within the same neighborhood preferably that have sold within the past 3 months.  Keep in mind that you can over improve your home and spending too much on certain upgrades can hurt you.

2. Basic systems

The appraiser sees: A brand-new roof.

What he does: Nothing.

Why: Just as a knee replacement won’t make you look 20 years younger, a new roof, furnace, or boiler isn’t considered an improvement to your home.

That said, if your roof is in disrepair, replace it: Signs of leaks or discoloration can knock a significant amount off the home’s value.