What’s Your Home Worth?


 

What’s Your Home Worth?

If you’re fortunate enough to live in North Texas you’ve no doubt seen plenty of media stories about our region’s rising home values. So, it’s only natural if you’ve been wondering, “What’s my home worth now?”

 

The reality is there’s more than one answer. Your home actually has three potentially very different values:

 

Replacement Value

If your home is destroyed, by say, a fire or tornado, replacement cost is what it would take to remove debris and rebuild. Most experts agree that homes should be insured for 100 percent of the minimum estimated replacement cost. If your home is not, you run the risk of coming up short if the cost to rebuild is more than your coverage will pay.

 

Property Tax Value

This is the number taxing authorities use to calculate your property tax bill. Typically, property tax values are meant to approximate a home’s market value, though sometimes there are large discrepancies between the two because of outdated assessments or mistakes by assessors.

 

If the property tax value of your home exceeds the market value, consider contesting the value with your taxing authority.

 

Market Value

This is the measure most of us think of when trying to estimate our home’s value. Determined in part by the price people have paid or are willing to pay for similar houses in your neighborhood, market value is not based on what you paid for the home or how much it cost to remodel that beautiful new kitchen or master bath.

 

Determining market value is a job for a properly educated real estate professional. If you’re considering offering your home for sale, we recommend contacting an Ebby agent to determine the current market value of your property. To get started, visit the website voted one of the industry’s best by the Web Marketing Association, ebby.com.

 

 

 

13 Ways to Add Value to Your Home


Whether you’re selling now, planning to sell in the future or just want peace of mind, there are always steps you can take to increase the value of your home.

 

Following is a list of items that will attract buyers and make the place you call home even more special.

 

1. Home Office

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The growth of technology has made it possible for people to work from their homes more often. By updating your current home office or designating a space to create one, you show your home’s full potential.

4428 Greenbriar Drive | Dallas | $1,798,000

 

2. Master Suite

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A master bedroom with its own bathroom is an expected amenity. If you don’t have one, try to find the budget (and space) to create one, focusing on amplifying storage space.

2630 Misty Meadow Drive | Propser – Gentle Creek | $829,000

 

3. Family Room

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Everyone needs a comfortable, open space to fill with family and friends. Make sure your room looks and feels inviting, and filled with plenty of natural light. Also, a fireplace is always a plus.

1095 Arches Park Drive | Allen – Waterford Parks | $464,900

 

4. Kitchen

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The kitchen can either make or break your home. Staying reasonable with materials and design will almost always guarantee your money back on a remodel.

7337 Blairview Drive | Dallas | $529,500

 

5. Bathroom

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Have you ever heard of a home having too many bathrooms? How about too few? If your home has fewer bathrooms than bedrooms, it’s time to think about adding another full or half-bath. Additionally, if your current bathroom has seen better days, consider an update that’s simple and clean.

829 Melba Street | Dallas | $389,900

 

6. Windows

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Did you know, on average, 30 percent of your home’s energy is lost through its windows? If your windows are in bad shape or you’re looking to impress buyers, upgrading to energy-efficient windows will not only save time and money for you, but also for your buyer.

3804 Villanova Street | University Park | $2,675,000

 

7. Basement/Subterranean Level

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Though it’s not the most common feature in D-FW, a subterranean level can add major value to your home. If the ceilings aren’t too low, a subterranean level is an ideal space for an office, playroom or media room.

4626 Dorset Road | Dallas – Strait Lane Estates | $6,500,000

 

8. Deck

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These days, outdoor space is a premium. On average, the edition of a deck provides a 76 percent return on investment. Typically, they’re not too expensive to build and create an entirely new living space.

4600 Stanford Avenue | Dallas – Briarwood | $850,000

 

9. Landscaping

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An overgrown and poorly maintained yard isn’t appealing to anyone. Liven it up with some color, height and possibly a designated seating and/or entertaining area.

6739 Lupton Drive | Dallas – Preston Hollow | $2,575,000

 

10. Paint

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A few coats of paint is one of the easiest and least expensive ways to update your home. If you’re selling, keep things light and neutral so that buyers can easily imagine their things in your space.

4415 Woodfin Drive | Dallas – Rockbrook Estates | $1,625,000

 

11. Flexibility

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Your house is yours to make your own. If you think you may sell in the future, try not to over customize. Buyers need to be able to see themselves and their things working in your home, so try not to pigeonhole your spaces.

5192 Havasu Drive | Frisco | $469,000

 

13. Exterior

1443555734_454078-5009-spanish-oaks-dr-frisco-tx-High-Res-2.jpgThough we’ve been told to do otherwise, people do judge homes based on curb appeal and first impressions. Put the best foot forward by sprucing up your home’s landscaping, exterior paint, siding, and garage doors.

5009 Spanish Oaks | Frisco – Starwood | $2,798,000

 

 

 

 

14 Ways to Add Value to Your Home


Whether you’re selling now, planning to sell in the future, or just want peace of mind, there are always things you can do to improve the value of your home.

 

Check out this list of 15 items that will attract buyers and make the place you call home that much more special.

14 Ways to Add Value to Your Home

^Home Office: Technology has made it possible for more and more people to work out of their homes. By updating your home office or designating a space to a new one, you show your homes full potential.

(Pictured: 9226 Hathaway St., Dallas)

14 Ways to Add Value to Your Home

^Master Suite: A master bedroom with its own bathroom has become an expected amenity these days. If you don’t have one, try to find the budget and space to create a master suite. If you do, focus on amplifying storage space.

(Pictured: 3210 Carlisle St. 51H, Dallas)

14 Ways to Add Value to Your Home

^Family Room: Everyone’s looking for a comfortable, open space to fill with family and friends. Make sure your room looks this way by drawing attention to windows and natural light. A fireplace is almost always a plus.

(Pictured: 9029 Broken Arrow Lane, Dallas)

14 Ways to Add Value to Your Home

^Kitchen: This space can make or break your home. As long as you stay reasonable with materials and design, you’re going to get your money back and then some on a kitchen remodel.

(Pictured: 6601 La Cosa Drive, Dallas)

14 Ways to Add Value to Your Home

^Bathroom: Have you ever heard of a home having too many bathrooms? How about too few? If your home has fewer bathrooms than bedrooms or no bathroom on the main floor, think about adding another full or half-bath. Additionally, if you have an old, dingy bathroom, consider an update that is simple and clean.

(Pictured: 5418 Deer Brook Road, Garland)

14 Ways to Add Value to Your Home

^Windows: Did you know that, on average, 30% of your home’s energy is lost through its windows? If your windows are in bad shape or you’re looking to impress buyers, upgrade to energy efficient windows that will last and save the future owners money for years to come.

(Pictured: 9836 Gooding Drive, Dallas)

14 Ways to Add Value to Your Home

^Basement: Though it’s not the most common feature in DFW, a basement can add a major value to your home. If the ceilings aren’t too low a basement can be the ideal space for an office, playroom, media room, or spare bedroom.

(Pictured: 12541 Renoir Lane, Dallas)

14 Ways to Add Value to Your Home

^Deck: Outdoor space is at a premium these days. On average, the addition of a deck brings a 76% return on investment. Typically, they’re not too expensive to build and they create an entirely new living space.

(Pictured: 11120 FM 678, Whitesboro)

14 Ways to Add Value to Your Home

^Landscaping: An overgrown and poorly maintained yard isn’t appealing to anyone. Liven things up with some color, height, and possibly a designated seating and/or entertaining space.

(Pictured: 3612 Villanova St., University Park)

14 Ways to Add Value to Your Home

^Paint: A few coats of paint is one of the easiest and cheapest ways to update your home. If you’re selling, keep things light and neutral so that buyers can easily image their things in your space.

(Pictured: 1314 Cardinal Creek Drive, Duncanville)

14 Ways to Add Value to Your Home

^Flexibility: Your house is yours to make your own, but if you think you may sell in the future try not to over-customize. Again, buyers need to be able to see themselves and their things working in your home, so try not to pigeonhole your spaces.

(Pictured: 9629 Whitehurst Drive, Dallas)

14 Ways to Add Value to Your Home

^Blending: When adding an addition, choose materials that blend well with the existing house. Carry over design elements from the original house in order to create a flawless transition.

(Pictured: 9610 El Patio Drive, Dallas)

14 Ways to Add Value to Your Home

^Exterior: Though we’ve been told to do otherwise, people do judge homes based on curb appeal and first impressions. Put the best foot forward by sprucing up your home’s roof, exterior paint, siding, and garage doors.

(Pictured: 5715 Wortham Lane, Dallas)