What Is The Value of My Home?

How can I find out?

Seek out the help of a real estate agent. They can give you what they call a CMA or an analysis of your home’s value. They use and compare comparable homes that have just sold in your area. This, along with a walk through to see any and all improvements you have made, your curb appeal and the home’s past value history will give them what they need to assess the value of your home. This will cost you nothing and it is a good idea to have several agents come and give you their numbers, not all agents are alike. Some will up the value and asking price, in hopes of a larger commission, others will lowball it to sell quickly. My advice; go with the one in the middle; it is usually closer to the real worth of your home. They can also give you suggestions of improvements you may want to make to add value and which improvement will not add value.

You can also call a Home Appraiser. This will cost you, usually $300-$400 dollars. But, you will get the worth that the bank will use when appraising your home. The appraiser will come and walk through your home and will also check for anything that will need to be repaired before selling. He will also use comparable homes in the area to come up with his value of your home. The Appraiser will also give you suggestions on improvements that can add value to your home.

You can find a myriad of sites online where you can find Home Value Calculators that allow you to find the value of your home by inserting various numbers. This is a good place to go if you just want a ballpark number and don’t want to talk to any sales people. But, many of these sites go beyond just the calculator and offer real estate agents, mortgage lenders, home finders, etc. You may have to do a little research to find a reputable site that can offer you a more hands on experience and a full-service agenda.

What kinds of Improvements can add Value to my Home?

Every home is different. And different geography can affect improvements. But, you are usually safe starting with the curb appeal of your home. It is the first thing buyers see when looking at your home. It can be that ‘yea or nay’ moment for a buyer. Updating the front yard, the walk, the doors and windows could help. A new coat of paint or new siding will add value. Next, the kitchen and bathrooms are big sellers of the home. Updating kitchens and bathrooms are definitely going to add value. Updating the flooring is also a good bet. Nothing offends more than walking into a home where the smell of pet urine and stains are the first things you notice. Adding a pool does not necessarily mean more money. It really depends on the locations of your home and the year round weather. Many people decide against homes with pools because of danger to their young families or they just don’t want the hassle and upkeep of a pool. Your neighborhood will affect the price of your home. So, remember when buying; that finding a good neighborhood, with good schools and close proximity to shopping, entertainment and freeways are the homes you will want to seriously look at.