How Can I Estimate My Home Value?

How Can I Estimate My Home Value?
Model of cardboard house with key, calculator, notebook, pen and cash dollars. House building, loan, real estate. Cost of public utilities, insurance, rent or buying a new home concept

Are you asking yourself, “How do I estimate my home value”? If so, we’ll help you out with this guide. Determining the value of your home is a bit complicated. If you are trying to sell your house or if you’re just curious about its value, there are a few things you can do to figure out how much your home is worth.

With that said, take a look at the suggestions below to learn ways to get your home’s value estimate.

A Lender Appraiser

Generally, a property is appraised once it goes under contract. The lender will hire an appraiser to do a report on the property. Details like the home’s features and its history all go into the equation to determine its value. 

The lender also considers details like other real estate deals that have closed within the past few months. 

Furthermore, you can hire your own appraiser. If you haven’t put your house up for sale and you can’t figure out the price on your own, an appraiser can help to provide a realistic estimate.

An Online Evaluation Tool

There are so many resources on the internet that can help you determine your home’s value. You can simply type in your question and it’ll bring up a variety of websites to assist you.

 You can also use this tool if you’d like to get a good breakdown of how much your house is worth.

A Comparative Market Analysis (CMA)

When you want a breakdown of your home’s value, it’s a good idea to get a comparative market analysis. A local realtor can do it for you. It’s not as detailed as an appraisal, however, a comparative marking analysis provides the real estate agent’s evaluation of your home’s market value.

This process is typically performed for listing purposes. You want to make sure that your home is selling in the same price range as the other houses in the area. 

Generally, realtors may do an analysis for free or for a small fee. But in most cases, they’ll prefer that you hire them as your personal realtor if they perform a CMA for you.

Review Similar Properties

If you don’t want to go through the hassle of hiring someone to get your home’s value, you can simply evaluate similar properties. There are many websites out there that will compare properties so you can get a close estimate of how much your house is worth.

How Do I Estimate My Home Value? Your Questions Answered

As you can see, there are several ways to figure out your home’s value. If you’re just curious about how much it’s worth, using an online tool is your best bet. However, if you want a definite answer, it’s in your best interest to reach out to a professional who can provide the best answer.

If this content answered your question, “How do I estimate my home value?”, you’ll enjoy reading our other articles. We publish tons of real estate and home-related topics.

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