{"id":7792,"date":"2018-01-02T15:15:01","date_gmt":"2018-01-02T23:15:01","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=7792"},"modified":"2017-12-16T10:13:11","modified_gmt":"2017-12-16T18:13:11","slug":"things-to-know-about-the-cost-of-a-house","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/01\/things-to-know-about-the-cost-of-a-house\/","title":{"rendered":"Things to Know About the Cost of A House"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Know the Comparables<\/strong><br \/>\nAccording to Zillow, the asking price of a home should be within 10 percent of the average sold price in your neighborhood. Look for home sales in the past three months. Appraisers only look at comparable homes sold in the last three months.<\/p>\n<p style=\"text-align: justify;\"><strong>Compare Square Footage<\/strong><br \/>\nAppraisers look at square footage for determining a home\u2019s value. So it\u2019s important to take a look at similar homes that fall within 10 percent of the square footage of your home.<\/p>\n<p style=\"text-align: justify;\"><strong>Be Prepared for Additional Closing Costs<\/strong><br \/>\nAdditional costs during closing can include things such as inspections, loan origination fees, and title insurance, so keep those in mind when putting together your down payment. The additional costs right at closing means it might make sense to put less money down in order to pay for the added expenses. Often closing costs are paid by the seller, but in competitive markets, it\u2019s becoming more common for the costs to be split with or paid by the buyer.While you&#8217;re spending all of this hard-earned money, be sure to budget your move to cut down on expenses.<\/p>\n<p style=\"text-align: justify;\"><strong>How the Prices Show up in Searches<\/strong><br \/>\nReal estate websites break down listings by prices in certain increments so if your home falls above one of those increments, you might want to change it so it fits. Realtor.com also suggests not using an odd number for your listing price because it makes things confusing for buyers.<\/p>\n<p style=\"text-align: justify;\"><strong>What Appraisers are Looking at<\/strong><br \/>\nAppraisers will focus on the condition of the important parts of the home like the age, square footage, number of bedrooms and baths, the size of the lot, as well as the location of the home. Appraisers will also take a look at the furnace and plumbing.<\/p>\n<p style=\"text-align: justify;\"><strong>What can Boost an Appraisal<\/strong><br \/>\nDiscover says appraisers often value homes in $500 increments so it\u2019s likely worth fixing something that costs $500 or more. Also, curb appeal is always important during an appraisal as well as for buyers looking at the home.<\/p>\n<p style=\"text-align: justify;\"><strong>Know the Return on Remodeling Projects<\/strong><br \/>\nA remodeling project isn\u2019t going to return a dollar-for-dollar increase in your home\u2019s value so be aware of that when considering projects. You might not like the kitchen in your home now but it might not make sense to completely gut it.<\/p>\n<p style=\"text-align: justify;\"><strong>Speak Up<\/strong><br \/>\nIt\u2019s important to say something if you don\u2019t agree with the final report of value because a lender might choose not to fund a mortgage if there\u2019s a big difference between the agreed selling price and the appraised value. Try to find out about the appraiser and their knowledge of your neighborhood before they come out to your home. If you\u2019re not comfortable, ask for another appraiser.<\/p>\n<p style=\"text-align: justify;\"><strong>Location, Location, Location<\/strong><br \/>\nThe old standards of the neighborhood and the state of the schools in the area always factor into a price of a home, but so does the potential for future development, the proximity to retail, parks and other frequently visited places.<\/p>\n<p style=\"text-align: justify;\"><strong>Inspection Report<\/strong><br \/>\nThe inspection report can be a critical negotiation tool in buying a home. Whatever issues the inspection report turns up can move the price down potentially.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.msn.com\/en-us\/money\/home-loans\/10-things-to-know-about-the-cost-of-a-house\/ss-BBGpmlS\" target=\"_blank\" rel=\"noopener\">10 Things to Know About the Cost of A House<\/a> by Nick Gerhardt | MSN Real Estate<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Know the Comparables According to Zillow, the asking price of a home should be within 10 percent of the average sold price in your neighborhood. Look for home sales in &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/01\/things-to-know-about-the-cost-of-a-house\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-7792","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Things to Know About the Cost of A House &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/01\/things-to-know-about-the-cost-of-a-house\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Things to Know About the Cost of A House &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Know the Comparables According to Zillow, the asking price of a home should be within 10 percent of the average sold price in your neighborhood. 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