Is Your Fairfield County CT Home a Candidate for a Tear-Down?

You may have heard of a house being referred to as  "a tear down", and thought it meant that a home was so dilapidated that it couldn't be saved, and had to be torn down and/or  rebuilt.

-But that's not necessarily always  the case.  A "tear down" also  refers to a home that for some reason is no longer considered highest and best use of the property.

Appraisers in our area calculate the land value at approximately one third of the value of the improved parcel. Improved means that a house is on it, and has working utilities.

So when do the improvements start to have zero value? In short, it's when the cost of the property and to fix the home that was built on the land exceeds the market value.

Another reason homes are candidates for a tear down would be houses around the "improved" property are so  much larger, or more sophisticated  that the cost of land may even exceed the value of the home on it. Don't balk at that. It happens on a daily basis in Fairfield County, especially in the upper-end market.

If you have noticed that significantly larger homes are being built all around you, it may be time for a value assessment of your property-even if your home is in very nice condition, it may still catch a builders eye.

So if the thought of selling  has crossed your mind, are unsure of how your home might fare to a homebuyer or a builder, it's worth a call to find out. I'll give you an honest assessment. It costs nothing to ask. (203) 257-5892

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 The Featured Home of the Week is a 3 bedroom, 2 bath ranch home at 20 Hickory Drive, Westport  for just $550,000. See the virtual tour HERE 

 .....or better yet, call Judy to schedule an appointment to see it!

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Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like:

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 Email us or  call Toll Free (855) GET-JUDY