What is a home really worth?
The real answer is what a buyer and a seller agree as to a purchase price. The bank or lending institution must agree upon that value if there is lending involved. The county that the home is located in then assigns an assessed value.
A home's assessed value is just an estimate of the home's worth.
There are a number of things taken into account when determining a homes value like home improvements, repairs, renovations, and more.
There is not a one to one ratio of home improvement costs to value.
If you want to learn more about how worth is determined leave me a comment with your questions!
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