What’s your home worth? If you can’t figure out the value of your home, we’re here to help. Over 5 million homes sell each year, but many sellers are clueless about how to value their home and what price to put on it.
Continue reading this article, and we will give you some simple guidance on selling your home.
- Understanding Home Market Value
Despite how much money you think your home should sell for, that’s not usually the price you’ll get. You need to understand home market value and how much people are willing to pay for your home.
The most important thing about your home is its location. People love to be close to good schools, highways, entertainment, and shopping.
Another important thing people look for is the safety of the neighborhood. If it has sidewalks, underground electrical lines, and the absence of crime, it’s much more likely that people will want to live there.
Curb appeal also raises the amount people are willing to pay. If your home looks nice and up to date, it’s more likely to sell than if it is outdated and unkempt.
The square footage, number of rooms, and updated appliances will also bring in a better bang for your buck when it comes time to sell.
Once you put all of those things together, you can get an idea of how much your home is worth.
- Look for Comps
Looking at comparable homes that have sold in the area recently is one of the easiest ways to determine how much your home is worth. If you’re saying, “I want to sell my house fast,” you might be in a tight spot and need to get out. If that’s the case, you should consider pricing your home below what the other homes are selling for.
Keep in mind that you have to be careful when looking at comps. You might see photos that make your home look the same, but you might not hear the train in the background or notice that the neighbor’s yard is grown up and unattractive.
- Hire an Appraiser
If you don’t want to guess what your home is worth, the best way to know what you’re working with is to hire an appraiser. Doing this will allow you to have documentation of how much the home is worth.
A lot of times, people will wait until the last minute to figure out the worth of their home. While this might work in some cases, if you want to prepare yourself for how much money you will or won’t get—it’s better to know ahead of time.
What’s Your Home Worth? – Now You Know
Now you have a good idea of how to answer when someone asks you, “What’s your home worth?” Instead of being confused about how to price, when to sell, and what to do, you now have a simple path.
Do you want to learn more about selling homes? Keep going through our blog.