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Real Estate Agents questions, answered by experts

If you are trying to sell a home with asbestos siding, most jurisdictions force you to disclose this in official documentation about the home. Some potential buyers may not want to purchase a home with asbestos siding, which could negatively affect their health if the siding becomes disturbed. However, as long as the siding is in good condition, some buyers may not see it as a disadvantage. You could take on the cost to replace asbestos siding if you have concerns over this material affecting your home’s resale value.

While it's smart to save up about 25 percent of the price of a home—to cover the down payment and closing costs—many loans require between less than 3% down to qualify. In either case, you'll need between 3 and 6 percent for the closing and moving costs as well as a strong financial history for mortgage approval.

A heated driveway can increase your home's value, particularly in regions that experience heavy snowfall and freezing temperatures, making the feature highly desirable to potential buyers. The value added is often greatest if you plan to sell within two to five years of installation, as the technology will be current. If you don't plan to sell for 15 years or more, an aged system may not be a significant selling point. However, even installing the basic components without activating the system can still add value by giving a future buyer the option to complete the installation.

Termite damage isn’t always a deal breaker when buying a house, but don’t dismiss it. If that’s the case, you should hire a professional termite inspection to understand the extent of the damage, type of termite, state of repairs, and whether the infestation is gone.

If the termites are gone and the current owners repaired the damage, you might want to proceed. You may even be able to use the damage as a bargaining point. However, don’t forget that home insurance policies often don’t cover termite treatment or repairs and active infestations are tricky to shift.

Yes, a tile roof will increase the value of your home more than an asphalt shingle roof. Not only do tile roofs look nicer and add more to your curb appeal, but buyers will understand that roof tiles last longer than most other materials, so they can expect minimal maintenance and a long roof lifespan after closing, which often means they’ll be willing to pay more for a home with this roof option.

The Clayton, NM homeowners’ guide to real estate services

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