How to Determine Your Home’s Value

A person’s home is considered their best investment and as such, it is only natural to expect a significant but fair return on investment. Determining your home’s value to sell it is based on several things like your understanding of the current property market to choosing the best brokers. In addition to pricing it right, knowing exactly how to determine the property valuation will set you on the right track towards selling your home fast and at a fair price.

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At this point, you’re probably wondering, “Why should I sell my house for cash?” Well, there are many reasons why you might decide to do so. It could be a property you bought while still single, and now that you’re getting married and starting your own family, you would rather convert it to cash. On the other hand, you might be relocating elsewhere for a better job opportunity. The reasons are varied.

The first factor that determines the value of your home is the property features. You will need to list down the number of bedrooms, bathrooms and square footage. A home that has more features that suits more potential buyers increases its value. A safe neighborhood with ideal surroundings is your second consideration, and this includes the kind of neighbors you have and its location. Your third consideration is going to be your home’s proximity to schools, parks, recreation centers and shopping malls because the more necessities you are near to, the better your home is going to look to potential buyers. Other factors that are significant in determining your home’s value include financing options and market conditions.

To determine the property valuation, a homeowner will need to go online and search for homes on the market that are similar to his or her own home, from the number of rooms to the size and floor plan. If possible, a homeowner can also visit the houses and check to see if the condition and appearance has any effect on the price. If your home has just recently been remodeled or fixed, then it would have a higher value. In addition, you also need to check the curb appeal of your home and this includes the landscaping, lot size, pathways and sidewalks.

Another way you can determine your home’s value is by interviewing competitive real estate brokers who will know the current conditions of the property market. You can also request them to do a sales comparison chart, which is actually better for estimating a home’s value because this will show the actual price paid and not an estimate of what the prospective buyers are willing to pay.