Working Out Your Home’s Value
Selling a home is a long and very involved process, and it needs to be something you’re prepared for. But, before you jump in and get a real estate agent on your side, you’re going to need to work out a few things about your property. Namely, how valuable it is.
When you know how valuable your home is, says TrueNest Property Management, you’ll have a much better time of selling it, and getting as close to the asking price as possible. You’ll also know whether or not renovations need to be made, and what you can expect to ask based on the area you live in. And with all that in mind, let’s go through how to work out your home’s value below.
Focus on Your Area
The house prices in your area are a good indication of what homes like yours are worth, based on a variety of factors. These can include nearby amenities, average wifi speed, crime rates, and school performance – these factors can both take up and drag down the price of your home, even if it’s been recently renovated with a lot of upgrades. Make sure you find out about these local factors and how they might be affecting you – most property websites will be able to give you a quick rundown of them all.
Use Online Valuation Tools
Online valuation tools are easy to use and don’t take much time to get a result from either. Plus, there are many ways to work out your home’s value online, and for most websites, these tools will come free of charge!
Of course, only when you get in touch with the right services, such as Cami Jones & Company, can you get an actual proper valuation, but these estimates are great to work off of for the time being. If you know the big real estate market websites already, make sure you cross reference the estimation result from each of them against each other – it’s a good way to come up with an average.
What Did Your Home Used To Be Worth?
And then, you’re going to need to keep in mind the price of your home when you first bought it. How much did it cost you, back in the day? And since then, has the value of the home gone up or down? Don’t worry, the majority of homes will have risen in value, thanks to inflation, and usually by a percentage of over 100%.
However, if you can’t remember the sale price, or the home was left to you and you have no clue what it cost your relatives, you can use sale prices of homes around you during a similar selling time period to come up with a price for yours.
Your home’s value could have changed wildly since it was first bought. It’s time to investigate how much the four walls you’re living in are worth, and whether or not you’d get the price you’d really want if you ever sold on.
