How To Determine The Value Of Your Home

How to determine the value of your home? Selling a house can be a very difficult process. This is due to a number of factors. There are emotions involved with the home, what a person feels a home is worth. The hours of work and pride they have in that work. In addition to how much money they have put into the house.

Though, how much does all that really matter, when you are trying to determine the value of the home? Not that much. The way that a house value is determined is with some standard equations.

A few of the factors that will be looked at are:

Area or location
Lot size
Construction quality
House square footage
Condition of the house and property
Rooms completed
Bathrooms
Appliances, fridge, stove, dishwasher, disposal, furnace, water heater, etc
Carpet and paint condition
Window coverings
Screens, and doors
Design and floor plan
Availability of transportation, shopping and schools

In addition to the house itself, the property it sits on will be a factor in the value process. This includes the size, landscaping, cleanliness, and if there is a shed, garage, patio, etc.

Finally there will be houses that have sold in the area that your house is selling. These will be used as comparables houses for the market your house is in. These houses will have likely sold in the last three months. This will help the value of your house be set around the same as other homes like it. There may be slight differences because of amenities, condition, size or lot size, but it will be close.

A Realtor is someone who can help you sell your home. They will also make it possible for you to find out the value of your home pretty easily. They may help to make sure that you have an Appraiser to work with, so that you will get an accurate appraisal of your home. An Appraiser completes a certified calculation of your home. These run around $300-400 more or less depending on the area.

You can do a bit of an estimate yourself of your home. Prior to having a complete appraisal created for you. Look at the houses that are selling in your neighborhood. Try to find three that are about the same size, look and in the same neighborhood you live in. Look to see if you have similar amenities, rooms, extras etc. Then you can get an estimated idea. There are also sits that can help you find the estimated home value. We will talk about that shortly.

It is also likely that a Realtor or real estate representative will help you get a comparative market analysis completed. This will only be an estimated value but it will give you a basic idea. A comparative market analysis will show you some houses that are like yours, therefore when you sit down to determine an asking price for your house; it will be fair and will sell in a timely manner.

There are many sites on the Internet that can help you get an estimated value on your home. Here are a few sites you can look at ( simply copy and paste into your browser).

https://www.quickenloans.com/mortgage_calculator/refinance_calculators/home_value_calculator.html?cm_ref=/refinance/refinance_calculators/home_value_calculator.html

http://www.homesmartreports.com/docs/hoi/determine-the-value-of-your-home.html

http://www.housevalues.com/default.aspx?hvnp=1&src=googleCheap&gclid=CI7uqtjO5YsCFQstWAodM0N-VA

What ever the resources are that you choose to use for your home value determination, remember that your home may be worth a million to you, however it will likely only sell for the value of the houses in that same area.

If you want to be able to sell your house in a timely manner it will need to be listed as a similar price to others like it, or buyers will not take the time to view it. So these tips and tools will make it easy to determine the value of your home, and get you ready to complete your real estate transactions.

Article Source: http://www.christiannotepad.com

Chuck Lunsford is the content manager for Tina Abraham, a Wilmington North Carolina real estate broker. Whether you're looking for luxury real estate, waterfront homes, historic Wilmington homes or a quaint little cottage Tina can knows the market and can get your the best home to fit your unique needs. To learn how Tina can help you find your dream Wilmington North Carolina home call us at (910) 790-7484.