In the coming months, we will provide to you a series of topics for your consideration as you contemplate Investing In Your Home. The single largest investment most of us make in a lifetime is our home. A home has many functions, providing shelter and security both from the elements and financially, but only if managed and maintained properly.

We want this information to help guide you with making the right choices when figuring out how to invest in your San Francisco home.

Part I: Know the Current Value of Your Home

In today’s challenging real estate market, many people are thinking hard about the value of renovating. This article discusses how to think about managing our largest investment, to ensure it is not only well maintained but also maximizes a property’s value in the future.

In the San Francisco Bay Area, owning and developing real estate has traditionally been a lucrative investment. But with the real estate market being less kind than typical, outlined are below some critical considerations and guidelines before embarking on costly renovation projects.

How do you find out the current value of your home?

The key word here is current – not last year’s values, or what you might have projected your home to be worth now. Current value is based on the actual selling price of similar homes in your area. Talk with realtors and view listings to see how your property stacks up against current sales prices (look at the sale prices – not the offer prices). This research helps guide you on the level of investment to make and avoid over or under renovating your property. In past years, however, real estate agents alone were a good source for assessing market value. In today’s market it’s the appraiser. If selling or looking to extract equity from your residential property, banks will look to their own appraisers to set the value of your home – not the real estate agent.

I know the current value, what do I do next?

After you understand the current value of your home, you can now make wise choices about how to maintain your home or make renovations…Add more content here about how you can help them with these choices and work within most budgets. Keyword is most 😉

Investing in Your Home Part 2

See you next month with tips on considering the Form and Function of your home.