Determining the worth of your house is vital to selling it. If you have lost money on the housing market or are wondering if an upgrade will bring you more money in the sale, knowing the true worth of your home helps you make stronger financial choices.

House Appraisal

For the most accurate appraisal, look into getting a fair market house appraisal. To do so, hire an appraiser to work for you, so you get an honest value. Once you get that value, you add a bit more for a selling price. If you are getting an appraisal because of divorce, be careful of who hired the appraiser. To get the fairest appraisal, be sure to specify that you want a "fair market value" appraisal.

Tips

Home value goes up and down depending on the market. The basis of needing to know your home value is how much money you can get if you sell it. The first step is to compare the houses that are selling in your area that are most like yours. Compare apples to apples, meaning if you have a three-bedroom, two-bathroom home that is 1,300 square feet, do not compare it to a house with five bedrooms and 2,200 square feet. You want a scale of value true to your home. If there are similar houses in your area, but only you have a garage, your home is worth more. Go to the websites of local realtors and search for homes that just sold. Compare three of the sales. Make a graph that lays out each home's details, then add your home. Write the selling point of each home. Note any differences. If all the houses are similar, you can determine your house's worth.

On the Web

At Zillow.com, you can check your home's value, though this is not an appraisal. The site offers you the ability to input facts about your home to calculate the value. You can use the estimator tool to see your own estimated house value. The "Zestimate" combines data about your location, market conditions and real estate agents that have appraised your home. Looking at similar homes in your area, how the sales are pricing and what features your home offers, determines an estimate of your home value. Coldwellbanker.com also offers a home value estimator, which helps determine what houses are selling for in your area and offers a general estimator of worth.

Source:

How much is my house worth?

What is your house really worth?

What Zillow Offers Homeowners

Resource:

Home Value Estimator

Home Value Free Refinance

House Seller's Guide