How to Calculate the Value of Your Home
Knowing the value of your home will enable you to make the right financial decision for you and your family as when is the time to sell. With prices at an all-time high, it would seem now is a great time to sell. Let’s look at how you can determine the value of your home to see if it’s your best time.
1. Get a Comparative Market Analysis (CMA)– You can hire a local Real Estate Agent, to do comparables of properties in the same area, with the same criteria of your home.
2. For a more definitive answer you can hire a professional appraiser who will tell you exactly what your home is actually worth. They look at the market location, the condition of the property, or any improvements made. They will also look at comparable properties, which include the sale, listing, cost, depreciation, and many different elements of similar properties. A combination of all of these elements will help the appraiser determine what your home is worth.
3. Online Evaluation Tool– This tool calculates the information provided and information collected from public records to give the client an estimate of what their property is worth.