Investing in Larger Austin Homes:

Consider these questions before making a choice between adding on to existing Austin home or moving into an area with larger and more expensive homes:

• How much money is available, either from cash reserves or through a home improvement loan, to remodel your current property?
• How much additional space is required? Would the foundation support a second floor or does your home have room to expand on the ground level?
• What do zoning and building ordinances permit for remodeling and expanding homes?
• How much equity already exists in your home?
• Are there affordable Austin homes for sale that would satisfy housing needs?

Ultimately, the decision should be based on individual needs, the extent of work involved, what will add the most value and current Austin real estate market trends.

Standard Ways of Finding Out How Much Austin Homes are Worth:

A comparative Austin real estate market analysis and an appraisal are the standard methods for determining the value of Austin homes. Your real estate agent will be happy to provide a comparative market analysis, an informal estimate of value based on comparable sales in the neighborhood. Be sure you get listing prices of current homes on the market as well as those that have already been sold. You also can research this yourself by checking on recent Austin Texas real estate sales in public records. Be sure that all of the properties that you are researching are similar in size and construction. This information is not only available at your local recorder's or assessor's office but also through private companies and on the Internet.

A real estate appraisal, which generally costs $200 to $300 to perform, is a certified appraiser's opinion of the value of a home at any given time. Appraisers review numerous factors within the market including recent comparable sales, location, square footage and construction quality.