How to Valuate Your House
Selling your home can be a very complicated task, especially if you have never done it before. If you decide to sell your home, one of the first questions you should ask yourself is “How much is my home worth?” Answering this question is very important because getting the price wrong on your home can cost you thousands and thousands of dollars. However, do not worry. In this article, you will learn how to value your home correctly.
The Ways to Know How Much Your House Is Worth
Here is what you can do in order to find out the actual value of your home.
Use One of the Online Valuation Tools
There are dozens of home value estimators that you can find online. According to statistics, about 22% of American homeowners use an online valuation tool to determine their home’s value. In order to use one of the home value estimators, you will need to know some facts about your home, including the following:
- Type of home
- Age of your property
- Square footage of the lot
- Square footage of the home
- Number of rooms, including the number of bedrooms and bathrooms
- Heating and cooling systems
- Number of parking spots
- Original purchase price
It is important to understand though that online home value estimates are not 100% accurate. They are only as reliable as the amount of public record data they can access. If there is not enough data about your neighborhood, county, town, or state, a home value estimator may not be a very reliable source of information.
Get a Comparative Market Analysis
A comparative market analysis is an effective tool that realtors use to estimate the value of a property by analyzing similar homes that have been recently sold in the same neighborhood. If you decide to go for this option, make sure that the real estate agent you want to hire for a comparative market analysis knows your area and has professional experience. There are many agents who provide a comparative market analysis for little or no cost at all.
You can also ask your realtor to help you valuate your property without a comparative market analysis. Most realtors have access to a multiple listing service database for properties for sale in your area, so they will be able to tell you what the average price of your home is.
Evaluate Comparable Homes Yourself
Statistically, over 50% of homeowners in the United States estimate their homes’ value themselves by looking at comparable properties. In order to do the correct evaluation, you will need to use an “apples to apples” approach, which means that you should think about which homes would interest potential buyers if your property were not available. It is recommended to look for properties of a similar location, size, upgrades, and condition. You will need at least three comparisons in order to receive a likely range of the value for your home.
Sell Your House Fast to a Home Investor
If you do not want to spend your time and effort trying to determine the price of your home, and you want to sell your property as quickly as possible, then selling it to a home investor is a great option. Home investors purchase all types of homes in any location and do it fast — you will be able to close on your house within two weeks.
If you own a home in Austin or any other nearby town, and you want to sell your house fast, We Buy Austin Houses is always ready to help. We are a family-oriented business with the mission to make a home-selling process as smooth and easy for our clients as possible. We buy houses regardless of their condition, location, and type, and we buy houses fast. We always make you a fair offer. If you have any questions or want to know more about the home-selling process, feel free to contact us.