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Real Estate Agents FAQs, answered by experts

Insurance companies weigh the amount of potential liabilities on your property to increase (or decrease) the cost of your home insurance. They will use several factors to decide if there are more chances for peril or injury to take place at your home. These factors include your location (whether you live in an area with high risk for natural disasters), the age and condition of your home, and whether you have any “attractive nuisances”—features that both increase the aesthetic of your home and potential for injury—like a pool or treehouse. 

Modular homes can go up or down in value depending on a few factors. In areas where real estate is appreciating, the value of modular homes is likely to increase, and vice versa. Additionally, the value of modular homes depends partially on the area. In cities where every other home is stick-built, modular homes might be considered a functional obsolescence, in which case they could be less desirable and go down in value. In either case, though, modular homes can still be a good investment, especially since they provide housing at a lower upfront cost.

Yes, a well-maintained gazebo can increase your property's value and marketability. The most appealing gazebos to potential buyers are typically large, well-designed, and constructed from high-quality, durable materials. Extra features like built-in seating or electrical outlets can also be attractive. Conversely, small, flimsy, or run-down gazebos are unlikely to add value. While a gazebo can be a positive feature, it generally offers a lower return on investment compared to a deck. It's also worth noting that professional landscaping, in general, can increase a home's property value by up to 15%.

Yes, appraisals are often used for property tax appeals, estate planning, and determining market value.

Adding a wine cellar, wine cave, or customized wine storage of any kind to your property can add significant value if you eventually decide to put it on the market. Even if some prospective buyers are not wine drinkers themselves, having a wine cellar or wine cave makes the property more desirable overall.

The Tucumcari, NM homeowners’ guide to real estate services

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