Did you know that last year 5.64 million people sold their homes? If you’re considering selling your property, then the first step is determining the value of your home. Unfortunately, this is often easier said than done.
So, how do you determine the value of your home? Simple: by reading this article. In it, we’ll go over three easy ways that you can get an idea of what your property is worth. That way, you can decide if selling is the right move for you. Let’s get started!
Use Online Tools
There are a variety of home value calculator tools that you can use for free online. These tools take a look at factors and evidence to determine the value of your property.
This includes things like public records of transfers, tax assessments, mathematical modeling, and any deeds of ownership. The pro to this method is that it’s usually the fastest way to get an estimate.
Unfortunately, the accuracy of this estimate is usually very watered down. This is because most of the calculators are used for marketing purposes by the companies that use them. As such, you should take it with a grain of salt.
Hire a Professional
If you want the closest type of estimate, then your best bet is to hire a professional. Our suggestion is to go with a good real estate agent. Websites like carolinahousesforsale.com can provide you home with a comparative market analysis.
While this is a professional appraisal, it does provide you with a great estimate from an expert’s perspective. If you want the closest type of estimate you can get, then go with a professional appraiser. However, you will likely need to pay more for this option.
Look At Similar Properties
Another way to get an estimate is to look at other homes that are selling in your area. If you can find ones that are in the same neighborhood, then this will give you an even better estimate (location plays an important factor).
From there, you can add or subtract value depending on how many bedrooms, bathrooms and square footage your home has in contrast. It’s not a perfect method. But, it’s another good quick one for determining value.
Find a comparative market analysis
If you’re looking to dig deeper into the home’s value it is possible to ask an agent in your area for a comparative analysis, also known as CMA.
While not as precise as an appraisal by a professional Although not as detailed, CMAs aren’t as detailed as professional appraisals, but a CMA is an appraisal provided by an agent of the property and market to estimate the value of the property, usually to be used for selling purposes.
The local real estate agent might offer CMAs for their clients at no cost. CMA at a low or no cost, however, beware that they could do this in the hope of being employed as the selling agent.
Enjoy Learning How to Determine the Value of Your Home? Keep Reading
We hope this article helped you learn how to determine the value of your home. As you can see, determining the exact value of your home is difficult. This is true even if you hire a professional.
Hidden factors and a fluctuating market mean that nothing is for sure. However, it’s fairly easy to get an estimate that provides you with a good idea of what your home is valued at.
So, just make sure to take the estimate with a grain of salt. Did you enjoy this article? If the answer is yes, then you’re in the right place. Keep exploring to find more topics that you’re sure to love.