We all know “an ounce of prevention is worth a pound of cure.” We are accustomed to scheduling an annual physical exam with our doctor, an annual financial review with our financial advisor; a bi-annual teeth cleaning with our dentist, and regular oil changes with our mechanic, so . . . what is a real estate check up?
A real estate “check-up” or review is a comprehensive assessment with a real estate advisor that helps you, as a home owner, understand, maintain, and maximize the value of your largest investment: Your home!
A trusted real estate agent can do much more than just help you sell or buy a home. They can be a trusted advisor to help you make wise decisions that can impact the value of your home for years to come. They can give you valuable insights into your home’s current value, what improvements to invest in, and current market conditions and trends to better inform those decisions.
As a real estate agent, I walk through hundreds of homes a year. As I tour homes with buyers, I regularly hear comments like, “why did the sellers do that?” Or . . . “Why didn’t the sellers do this?” These same questions are heard while touring new construction homes. Sometimes sellers personalize a home so much that it makes it difficult to re-sell, or they put too much money into something that offers little to no return when selling. If only, those sellers or builders had a trusted real estate advisor to pre-emptively discuss home improvement projects or design/layout options.
What happens during a real estate check-up?
1 - Identify goals for the Check-Up
Future Home Improvement Projects
Routine Repair/Maintenance Discussions
Determine if you have enough equity to request your lender to drop your PMI (Private Mortgage Insurance)
Tax Advisor requests updated CMA (Comparative Market Analysis) for your home value
Considering Renting vs Selling
2 - Home Walk-Through
Your real estate advisor will walk through and offer expert advice on condition and suggested repairs and or improvements based on your goals and objectives. Don’t wait until you’re ready to sell to have someone walk through. It will be more cost effective, less time consuming, and less stressful to tackle items a little bit at a time. Each year, your advisor can walk through and help you identify items that need to be addressed so that, when you are ready to sell . . . the hard work is done!
3 - Market Analysis
Your trusted real estate advisor will help you determine your current market value and how you compare to your surrounding neighbors. They can help provide valuable insight into what buyers are looking for, so that as you consider home improvement projects you are thinking ahead - Let your real estate advisor help you get the most value out of your budget. Or maybe . . . you are thinking about refinancing and want to see what your home is worth before you pay a lender for an appraisal.
4 - Expert Recommendations
A trusted real estate professional is a wealth of information. Whether you are looking for guidance on repairs, considering refinancing, needing a second opinion on improvements, a real estate advisor has a list of trusted professionals able to assist you along the way, so you do not have to do it alone.
INFORMATION IS POWER
A real estate check up allows you to make informed decisions about your financial future. By staying up to date you will be in a better position to protect your largest investment - your home. You will be able to avoid costly mistakes and take advantage of opportunities when they present themselves.
