Home Values

Three Ways to Determine What Your House Is Worth

 If you are you asking yourself, "What is my house worth?", here a few ways to find out. 

Whether it’s out of necessity, changing life circumstances, relocation, or the desire to downgrade or upgrade, the decision to sell your house can be both enthralling and terrifying. You immediately find yourself bombarded with questions. One of the first is “what is my house worth?” It can be difficult to trust an estimate from a broker who may be out for the quickest sale and the quickest return, especially if they give you information that feels counter-intuitive or contradicts numbers you have heard from your friends and neighbors. Good thing there is a simple solution to this dilemma: do your research.

Option One: Look Online

The internet is littered with real estate information. Check out websites like Realtor, Trulia, and Zillow to explore listings in your area. Be certain to stick to listings that share qualities with your home: if you have a three-bedroom house, do not look at pricing for four or five-bedroom homes. Has your home had extensive updates in the kitchens or bathrooms? Both of these will increase the value of a property. Although each home is priced individually, comparing your home with listings in similar conditions will give you a better understanding of what price range you can expect to sell for.

Option Two: Get a Free Evaluation from a Company Looking to Buy

There are several companies that operate by buying homes as-is for a fair amount of money. These companies tend to be no hassle and high reward, and it is easy to set up a consultation with them. For example, Blake Buys Homes in Orange County, CA has a four-step system for home evaluation that is free and easy, and could prove incredibly beneficial to those looking to sell. After they have toured your home, they will give you a quote. Perhaps it will be high enough that you will want to sell to them immediately and avoid closing costs and Broker’s fees. If not, you have lost nothing, and now have another estimate to throw into your decision-making process.

Option Three: Hire a Real Estate Appraiser

Any buyer interested in the house will inevitably bring an appraiser in to tell them what the house is worth. If you take the initiative and do this on your own, you can beat the buyer to the punch and ensure an open dialogue about the house’s value. Along with that, you will be granting yourself a completely unbiased evaluation of the property, and will be saving yourself the upset of a potentially disastrous discovery by the buyer’s appraiser in the final stages of a sale. Independent appraisers typically cost a couple hundred dollars and can be found via a simple Google search.