Top 5 Mistakes Homeowners Make When Estimating Their Home’s Value
Whether you’re preparing to sell your home or just curious about its current worth, estimating the value of your property can be tricky. Homeowners often make certain assumptions that can lead to over- or under-estimating their home’s value, resulting in surprises during an appraisal or the selling process. To help you avoid these pitfalls, here are the top 5 mistakes homeowners make when estimating their home’s value : 1. Overvaluing Personal Upgrades It’s common for homeowners to assume that every upgrade they’ve made will significantly increase their home’s value. However, this isn’t always the case. Custom finishes , luxury fixtures, or high-end appliances may add appeal, but not every buyer (or appraiser) will see them as worth the same amount that you invested. Key Tip : While upgrades can improve your home’s overall appeal, they don’t always provide a dollar-for-dollar return . It’s important to focus on market-demand improvements (e.g., kitchens and bathrooms) rather than over-...