How Much Is Your Home Really Worth?

Expert Author Peter Wilson Thomas

Unfortunately there is no accurate way to determine what your specific home is really worth without standing in front of it with a professional realtor and assessing the property both inside and out. However , there are ways of determining the current value of your property, the value of your property based on those around it, what you can realistically expect to sell your home for, and the improvements you can make on your house to potentially up the sales price in the meantime.

If your home is in relatively good shape you can expect to get a reasonable price for it. If you have taken care of your home and have kept it updated throughout your time spent there you will not have to do as much work to fix up your home for sale. By keeping up with annual inspections for plumbing, electric, foundation and your roofing you will also greatly ease the process of selling your home and eliminating potential hoops you may have to jump through.

Another way to accurately assess the worth of your home is to hire a professional realtor to examine your property and who has knowledge about the market in your area. A professional realtor will be well connected through their business to know what similar homes are selling for in your neighborhood and what the buying market is like in your area. Some houses may be worth a significant amount of money but if the housing market is struggling it may not matter. A realtor will be able to walk you through any upgrades your house may need as well as give you a realistic assessment of how much your house is worth in the market as well as what you should be asking people to pay for your home.

Your home may unfortunately be worth more in your head than it is on paper; however it is important to remember that the memories and dreams you have in this home are not transferred over to the new owners. The memories and life that you have lived in your home is priceless and that worth cannot be gauged by the price listed on a real estate website or open house brochure hanging from the sign in your front yard. The new owners are paying not only for your physical home, but the ability to create their own life and memories in this space just as you have before them.

Finally, a good way to assess the worth of your home is to research the real estate market yourself and get a picture of what is going on in your area. Establish the physical value of your home as well as the less obvious items of worth- a great location near to grocery stores, malls, business centers and good schools, for instance, will up the worth of your house. A location in a safe neighborhood that is near unique restaurants and fun entertainment options is another big draw for potential home owners.

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