How to find the true value of your home without breaking a sweat
Are you a homeowner and you are wondering how much your home could be worth? Maybe you have done a ton of home improvements and hope it has improved your homes value. Relax; you have come to the right place. Wondering about the value of your home is a valid concern. This is because your home is one of the concepts considered when someone is evaluating your net worth.
There are many other reasons that make people want to know how much their homes are worth. One of the reasons is that they might be planning to sell it in the future; therefore, by keeping track of its value, they can know when it is the best time to sell it. Another reason is that because of your tax bill. If you keep tabs with the property tax assessment and market value, you will be able to know when you are paying excessive tax based on an exaggerated property value or vice versa. You may also need a loan in the future and having knowledge about the value of your home will help you know the amount you can take against your home value. If the value of your home increases substantially, you will have an added advantage when you want to apply for a home equity line of credit.
How do you find out the true value of your home?
There are several ways you can find out the value of your home. One of the easiest is using the real estate websites available online that are specifically designed to calculate values of homes across different states in America. The most popular and efficient sites include;
· Trulia
· Zillow
· Realtor.com
· Redfin
· Real Estate ABC
· RE/MAX
· HomeGain.com
· Eppraisal.com
· ForSaleByOwner.com
· Chase Mortgage Services
These websites will also give you other important information about the real estate market. For instance, Zillow and Eppraisal will provide you with information about other homes that are being sold in your area, and Relator.com will enable you to access information about the homes in the neighborhood and local schools.
There are three things that you need to do to further estimate the value of your home. These are;
1. Gauge the temperature; If you input the details of your home into the Zillow platform, it will provide you with a line graph that predicts how your home will cost in the future. If the graph indicates an upward trend, then you can predict that its value will increase in the future and vice versa. The site will also enable you to compare with other homes in your city and zip code.
2. Evaluate the landscape; Zillow can also help you know how the real estate market is performing. Some of the indicators that you should look out for are recently sold homes, current listing and foreclosures.
3. Contact a real estate agent; a real estate agent is someone who is well versed in estimating the value of a home for the purposes of quoting the right asking price when selling a home. Seek their opinion and find out what they think about your home. They will use their experience to compare the specific details of your home and the market value of similar houses in the market and come up with a value for your home.
Ideally, finding it is not as difficult as it sounds.