When it comes to putting your home on the market or bidding on one that's already there, many factors play a role in the decision of value. In short, the value of any home is what the buyer is willing to pay for it. Yet, figuring out what that number is can be difficult. That is why you will likely have an agent run a competitive analysis on the home, especially if you are listing your home or buying in a competitive market place. In short, it provides you with a better understanding of the home's value.

How Is It Calculated?

The value of a home is ultimately decided by an appraiser. An appraisal is different from a competitive analysis, but the process is partly the same. In short, this process takes a close look at the value of homes that have…

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It is an alluring thought. Purchasing a home for next to nothing, especially compared to other home prices for the same size and type of home, and work on fixing it up. Not only are you going to get a lower purchase price, but you can make the home look the way you want it to. It sounds like a great plan but for the first-time home buyer, fixer uppers can be worrisome. It is always best to work closely with your real estate agent and other trusted experts before you make this decision. Consider some of the factors that may be risks to consider.

The Risk of the Unknown

The biggest reason many experts stay away from the fixer upper even when they are seasoned investors is that there is the risk of the unknown. A home that is in bad shape, such as…

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