Get matched with top real estate agents in Hondo, NM

Yes, siding orientation can affect a home’s resale value, but in what way and by how much really depends on the prospective buyer. For instance, some buyers prefer the more modern appearance that vertical siding offers, so having it can increase your home’s value in their eyes. However, other buyers prefer the classic, more common appearance of horizontal siding, so having vertical siding can decrease your home’s value in their eyes. 

Yes, high ceilings can increase your home's value when it's time to sell. According to some studies, homes with ceilings that are 9 feet or higher can sell for up to 6% more than homes with lower ceilings. While other factors like your home’s location and condition are more impactful, homes with high ceilings have a greater perceived value. Buyers often appreciate the extra space and modern feel that high or vaulted ceilings provide, making it a potentially worthwhile investment.

The purpose of the home appraisal determines which party pays for it. You’re generally responsible for the cost if you need to know the current value of your home to refinance your mortgage, though in some instances the lender will pay for it. The buyer pays for the appraisal when they are applying for their mortgage.

The average cost for a home or property appraisal is about $355, with prices typically ranging from $250 to $500. The final cost is influenced by several factors, including the property's size, age, location, and how it compares to other homes in the area. Appraisals for larger, older, or non-conforming properties often cost more. While a single-family home appraisal usually costs between $300 and $400, appraising a multi-family home can range from $500 to $1,000 due to its increased size and complexity.