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Real Estate Agents questions, answered by experts

Having a garage can increase the value of your home considerably, even if the garage isn't considered living space. Many people own cars and want a secure place to park their vehicles when they are home. 

If you decide to finish your garage and convert it into living space, you may affect your home's value. The livable space may increase your home's square footage, which can help its value. But, giving up the garage space may also negatively affect the sale price of your home.

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.

Yes, coffered ceilings add value to a home. They’re a timeless addition that creates an instant focal point in a room and makes it feel luxurious, no matter the style. This can catch the eye of potential homebuyers and get them excited about the home, providing you with a return on your investment.

While Craftsman-style houses are bungalows, cottages typically aren’t, though they can be. But they also differ in other stylistic aspects. For instance, cottages usually have simpler designs and painted woodwork.

In cases where an appraisal comes in lower than an offer price, sellers might opt to lower their asking price to meet the appraisal, especially if the market is slow, and replacing the offer with a higher one may take a long time. Sellers can also offer to make repairs to boost the appraised value, hire another appraiser to get a second opinion, or just move on to another offer that isn’t contingent on the buyer getting a mortgage or an appraisal inspection.

The Colfax County, NM homeowners’ guide to real estate services

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