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Real Estate Agents questions, answered by experts

Yes, a screened-in porch will increase your property taxes because it has a foundation and is considered a permanent improvement to your land. The exact amount your taxes will go up depends on the value of your existing home, the value added by the screened-in porch, the size of the structure, your location, and more.

Gather details of recent improvements, property documents, and any previous appraisals or inspections.

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.

A home inspection and a home appraisal serve different purposes. A home inspection is a visual evaluation of the property's overall condition to identify any structural problems or issues with major systems like electrical and plumbing. Its main goal is to assess the home's long-term safety and determine if repairs are needed before a sale. In contrast, a home appraisal is a thorough evaluation of the property and its surrounding area to determine its current fair market value. This value helps set the asking price and guides the mortgage company’s lending decision. The average cost for both a home inspection and a home appraisal is around $350 each.

A land survey includes the layout of a single property, including precise measurements and to-scale drawings of boundary lines, land improvements, and sometimes other features, like topography and drainage information. A plat map includes the layouts and boundary lines of several adjacent plots and basic structure measurements. Surveys are normally more valuable for homeowners and buyers, and plat maps are for governmental use.

The Hondo, NM homeowners’ guide to real estate services

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