Home Valuations: Why You May Need One

Homeowners are often curious about their home's current value in an ever-shifting market. But, there are more reasons to keep your finger on the pulse other than satisfying curiosity. 

1. Refinancing. If your home's value has increased enough for you to refinance and remove PMI (premium mortgage insurance), then you could remove a huge amount from your monthly payments. 
   
   
2. Home equity line of credit, or HELOC. Have repairs or updates you want to complete in your home? If your home has a good amount of equity, it may be wise to use a HELOC to fund these projects. Did you know this will not change your current interest rate?! That’s right. 
   
   
3. Upgrade/Downsize. If you have a large amount of equity in your home, you could use this to apply toward a new home! If you’re currently at a lower interest rate than today's, putting a large amount of your proceeds down could offset this adjustment!

Many websites claim to be able to provide an “estimated value” of properties. Those companies are only as accurate as the data behind them. An 1838 agent has a more complete view of your home - specifications, updates you may have completed, and the specific area your home is in. 

Are you interested in knowing your home valuation? Contact us at anytime and we will provide it for FREE.

Thanks for reading,

Ferryl