When you decide to place your home on the market, you will need to know what the value of it is. There are a few things that you can do on your own to get a pretty good estimate. There are many factors that go into determining the value of your home. Of course, you may think your home is worth way more than what it is, but the truth lies in the actual numbers. Here are a few helpful tips to get you started.
Where to start
When you want to get a rough idea of what your home is worth, there are a few things you can do. One of the best things to do is get a price comparison. You need to look at homes that are similar to yours in your neighborhood. Are any of them for sale? If so, see if you can find out how long they have been on the market. You can contact a realtor that may help you with this. How long have they been for sale? You need to know how long the house has been up for sale. If it has been for sale for a while, see if you can find out why it has not sold.
Things that add to the value
It is probably safe to say that since you have purchased your home, you have done some sort of remodeling. Remodeling could consist of adding a new roof, putting in new kitchen cabinets or replacing carpet with hardwood floors. All of these items can be included in the value of your home.
Find an appraiser
An appraiser will come out and inspect your home. Before they even get there, they already know certain things such as the square footage, the size of your lot, if you have a septic tank or sewer and if you are on well water or city water. They will also know how many bedrooms and bathrooms you have. They look at the overall value of the home.
An appraiser will also look at the other homes in your area. They will compare your property to other property that has sold in your neighborhood. They will also take pictures of the inside and the outside. Having a messy house doesn’t take away from the value, but if you are having an appraiser come out, it may be best to tidy things up a bit.
Whether you are estimating the home yourself, or you are having an appraiser do it, try to keep in mind all upgrades and repairs that have been completed. Make sure to do your research on other homes that are for sale or that have sold. When you get ready to sell your home, you want to make sure that the value is correct. You want to be able to get as much money for your home that you possibly can. Having the most accurate value can help you sell your home for the best price!
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