How do you find your home value quickly? If you want quickly get an estimate of the value of your home be aware that there is no way to pin point the exact price of a home, but you can get into a pretty close ball park figure.
The Value of Your Home
The price that you are selling your home for is one of the first questions a potential buyer will ask you. To find out an approximate value of your home and then based off that determine an asking price will take a little time but not a lot.
What’s the Market Like In Your Area
You will have to find out what the market is like in your area starting with your state, then your city, and then narrow it down to your neighborhood.
This will let you what prices the homes in your state, city, and neighborhood sold for. Then you will have a ballpark figure to base the value of your home on.
After you have collected this information, now you can get a more detailed outlook on what the value of your home will be.
- Get this information;
- Number of rooms in your home,
- The square footage of your house
- Number of bathrooms
- The size of your plot of land
- Your Zip code
Began Your Survey
Locate about three or four homes that sold in your neighborhood recently that are as much like your home as possible and with 4 miles of your house.
If there are none with this radius add half mile increments until you have enough homes for your survey, but make sure you stay within your zip code.
Note the selling prices of the three properties. Only use houses that are similar to yours if this is not possible choose the homes whose description comes closes to yours in the number bedrooms, square footage etc...
Do Your Calculations
Sum the total of the homes then divide them by the number of homes in your survey. This will give you the average price of the homes that sold in your neighborhood.
Estimate Your Value
After you have the prices you can guess the value of your home base off the condition of your home and others in your neighborhood.
Make sure your survey to compute your home value was within three months.
Home Values Are Not Perfect
Remember home valuation is not an exact science and everything in this process depends on the market and if it is trending up or trending down. It is all about timing and not really what your home is truly worth.