“How much is my house worth?” It’s on the mind of many homeowners. Guessing the value of your home is something we’re all guilty of.
The housing supply is tight these days, and mortgage payments are fairly low. That means the real estate market is hot. When homeowners want to take advantage of these trends, it raises certain questions.
Do they need to tap into their equity to make repairs? What does it take to sell your house?
For many homeowners, the value of their property has increased. Whether you want to sell your home or just feel curious, let’s look at a few ways to determine the value of your home.
How Much Is My House Worth?
There are several factors that determine the value of your home.
- Location of the property
- Number of bedrooms and bathrooms
- Square footage
- Age of the home
- Style of the home
Other factors play a role in how much your house is worth, including the need for any repairs. Additionally, curb appeal is important for homeowners looking to sell the traditional way.
However, some elements are out of your control. Mainly, this is the recent sales of other homes in your area. Typically, buyers and sellers both calculate the value and negotiate from there.
4 Ways to Determine the Value of Your Home
When you ask yourself, “How much is my house worth,” there are a few ways to find out. Here are some examples of methods to try out. Remember, though, that all of these hinge on perspective and opinion. You might find that each method offers a different value.
Ask a Real Estate Agent - What is My House Worth?
When you want to learn the value of your home, one method is to simply ask a real estate agent. Local agents offer a comparative analysis rooted in pending, active, and sold houses in your area.
This is a fairly reliable means to determine your home’s worth. However, prepare yourself for a pitch. Likely, that real estate agent will want you to sell you on choosing them as your agent.
As licensed real estate agents, the team at Flash Realty Solutions is happy to offer insight into the value of your home.
Comparisons in Your Area
Another way to determine the value of your home is to estimate yourself. Look at recent home sales in your neighborhood and use a ratio based on the price and square footage.
For example, say your neighbor sells a 1,800 square foot house for about $400,000. If your house is about 2,000 sq ft, some simple math gives you an idea.
Still, it’s important to remember this is a rough estimation. The true value hinges on other factors.
What is Your House Worth? Official Appraisal
The most reliable way to see the value of your home is to hire an appraiser. However, it’s also a snapshot in time. As such, the estimate won’t be a lasting indicator for a long period of time.
Moreover, appraisers come with a fee. That means it’s not the best option when you just find yourself wondering “How much is my home worth?” at random.
Ask a Home Buyer
Homebuyers work quickly and efficiently. Moreover, they offer you a way to sell your house fast. When you want to know the true value of your home in its current condition, home investors are a great asset.
For instance, Flash Realty Solutions offers free quotes on homes across the Greater Houston Area. With a little information from a homeowner and a bit of research, we calculate a fair cash offer on your home.
This shows you the current value of your home without any repairs. Additionally, you have no obligation to accept our offer. So, there’s no harm in checking for those who feel curious.
How Much Is My House Worth? Find Out in a Flash
Whether you want to sell your home or just feel curious, it’s great to know the value of your home. It opens up multiple options for the future. Moreover, it offers you more flexibility in how you live.
For many homeowners, getting cash for their house allows them to avoid a major hassle. No matter your reason, there are some great resources available to homeowners in Houston and beyond.