Determine the Value of Your Property

When planning to sell or refinance your home, determining the value makes a huge difference in the amount you list your home for. This number also plays a large role when you are trying to refinance. Although the housing market fluctuates, knowing what your home is worth prior to making any changes or additions will give you a good idea on how much you can increase the marketability and overall selling price. When a real estate professional or appraiser places a value on your home, there are a few standard variables they take into consideration:

  • Square footage
  • Location
  • Plot size
  • Age
  • Construction
  • Whether or not you have made changes or improvements to your property

There are a number of other items that go into the overall assessment. How many bedrooms and bathrooms you have on the property, the interior and exterior condition, and whether or not you have multi-levels or a basement. Market conditions also play a major role. A licensed professional will be able to give you a better assessment of the true value of your home, but these are general factors that make up the total number. If you want a general idea of what your home may be worth prior to consulting a professional, there are online tools like the Home Value Calculator that can walk you through the process to give you a general idea of your home's current value.

A property appraiser will be able to give you the final numbers on the worth of your home. For more information, contact a real estate professional for assistance.