ANSWERS: 1
  • You can figure out the value of your house through several methods, depending on how much time and money you would like to put into the process. You could spend several hours doing your own research or pay for a little help. Determining your home's value, as a first step, can help you decide whether or not it is the right time to sell your home.

    Comparison

    You can research home prices yourself to get a ballpark figure of your house's worth. Look for homes on the market that have basically the same square footage with the same features as yours, such as the same number of bedrooms or bathrooms. Also look for comparable acreage and other large features such as pools or garages. Be sure to look in areas or neighborhoods similar your own. You don't want to use a neighborhood that might be more expensive or less expensive than your own. Use the prices of the homes you find to determine an average price. This is not an exact price but gives you a pretty good idea of what your asking price should be.

    Real Estate Agents

    Contact a local real estate agent. Due to the competitive market, they are typically happy to help you determine the value of your home even if you aren't planning on selling right away. They know that if they are good to you, you will remember them when you want to sell. Agents will compare your home to others for sale in your area, saving you that work. They will also check information on homes that have changed hands recently to determine their selling prices. This will give you a slightly more accurate value.

    Professional Appraisers

    If you want the most precise value of your home, you can hire an appraiser. He will come to your home and check for home improvements as well as any issues that might need repair. He will use this information along with house prices of comparable homes, selling prices of homes that have sold recently, quality of construction, neighborhood location, and anything else he can use to come up with the most accurate value for your home.

    Online

    As an added tool, if you choose to figure out the house value on your own, you might try an online real estate site as a starting point. You should realize that these sites are not to be used as the final number, but can get you going in the right direction. They will help you narrow down your search by square footage, number of bedrooms, garages, and other factors to get a list of homes similar to your own.

    Source:

    Real Estate.com

    Resource:

    Zillow.com

Copyright 2023, Wired Ivy, LLC

Answerbag | Terms of Service | Privacy Policy