How to Determine Your Home’s Value

Determining a realistic value for your home is critical step in the home selling process. You must understand a bit about the real estate market in your area in order to determine a fair and realistic price for your home. If you do not price your home correctly, you could be looking at a long wait on the market – or you could sell for much less than you potentially could have earned. Here’s how to determine the true value of your home before you sell.

Hire an Appraiser

One of the simplest and most accurate ways to determine your home’s value is to hire an appraiser. As a property owner, it’s your prerogative to hire an appraiser to evaluate your home at any time.  Doing so early in the sales process can give you an idea of your home’s current value, as well as what it potentially could be worth if you invest money in making repairs and upgrades. Appraisers consider the size and condition of your home when determining its value, as well as the current market and the price of comparable properties in the area.

Utilize Online Tools

Dozens of online tools exist to help homeowners discover the values of their properties. Use helpful sites such as Zillow, Trulia, or Realtor.com to get at least a rough idea of the worth of your home. Keep in mind, however, that estimates without an actual physical appraisal are exactly that–estimates. You may want to hire a professional for a second opinion before you list your home to market.

Consider Factors That Lower Your Home’s Value

Whether or not you hire a professional to tell you so, the fact remains that your home’s deferred maintenance or lack of updating can drive down its value. Look around at your home. Does it have cracks in the foundation, outdated windows and doors, broken appliances, or a dated floor plan? These issues can reduce the overall value of your home and lead to fewer offers on the property. Lack of updates and a home in poor condition might not give you the price point you desire – unless you sell for cash to a company that doesn’t care about home condition.

Get a Fair Offer From My Fast Home Buyers

Being unrealistic about the value of your home will only spell trouble for you down the road. My Fast Home Buyers offers cash for homes of all types and conditions in the Dallas/Fort Worth area. Get an honest, accurate cash offer for the value of your Texas home today. Call (214) 473-4043 or reach out online.

Sources:

https://www.daveramsey.com/blog/easy-steps-to-determine-home-worth

By | 2018-08-21T10:59:49+00:00 August 30th, 2018|Blog, Local News|Comments Off on How to Determine Your Home’s Value