Posts from July 2016
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19
Know before you buy: Real estate tax rates across the Roanoke region
When you're deciding how much home you can afford, don't forget to take real estate taxes into account. Often, your taxes will be rolled into your monthly payment along with your mortgage principal and interest, and your homeowners insurance premiums.
Real estate tax rates vary widely across the greater Roanoke Valley, but that's not unusual in a region of our size. Taxes are typically based on the value of your property -- including your home and the land it sits on -- and are assessed by the municipality where you live.
It's important to remember that your assessed value is not the same as an appraisal. The assessed value of your home is calculated solely for the purpose of taxes, while appraisals are used to determine the market value of a property. So if you're considering selling your home and want a ballpark of what your home is worth, an asse...
8
How much can you recover at resale from these exterior home improvements?
Last week, I posted a list of the exterior home-improvement projects that have the most buyer appeal. In this post, I'm going to revisit those same projects and look at what you can expect to recover from each one.
The numbers I'm using here come from the same report by the National Association of Realtors that I sourced in the previous post. Members of the National Association of the Remodeling Industry estimated costs for each project, and Realtors estimated the value added. The "value recovered," which I've listed with each project, is the value added divided by the cost, or a representation of how much of the initial investment...