What's Your Home's Value?
** Click here to discover your Home's Value. **
What Does Home Value Mean?
Home value, or current market value, is the amount of money your house would likely sell for if it went on the market today.
Why Is It Important To Know My Home’s Value?
Knowing what your home is worth can help you decide when to sell and what your asking price should be. It can also help you determine if you should make some repairs or updates first. Since your home is such a major financial asset, it’s important to make informed decisions when you’re getting ready to sell.
How Can A Real Estate Agent Help Me Determine My Home’s Estimated Value?
A Real Estate Agent can provide you with a comparative market analysis (CMA). A CMA consolidates all the data from available comparables and gives you an estimate of what your home value should be.
Should I Get An Appraisal Of My House?
An appraisal is typically required for a buyer to qualify for a mortgage. As a seller, there is some value in getting an appraisal because it can give you a firm idea of what your house is worth and provide assurance to a prospective buyer. However, since appraisals typically cost a few hundred dollars, most homeowners only pay for a professional appraisal if it is required for a refinance.
Can My Home’s Value Change Over Time?
Yes, home valuation can change over time for a variety of reasons. The hope is that your home will appreciate, meaning it will gain market value. But there is no failsafe way to predict these changes.
What Factors Can Contribute To A Change In Home Value?
Changes in the market itself are a major contributing factor to fluctuation in home value. As demand goes up, prices typically go up, and vice versa. Changes in the economy, job market, interest rates — these are things that influence home value and are well beyond your control. But there are some things you can do to help your home’s chances of appreciation over time, like making smart upgrades and strategic renovations.