Find out your house value before selling.
When you sell your house, knowing the value of your house is an important part of the selling process.
What is your house worth?
Are you thinking about selling your house? One of the most important steps in the selling process is determining the value of your house. Understanding your home's worth not only helps you set the right asking price but also ensures you get the value you want from the sale. Let’s walk you through the various methods to figure out how much your house is worth, from using online tools to consulting experts like licensed appraisers and real estate agents.
Use online tools to find home value.
The internet has revolutionized the way we access information, and finding out your home's value is no exception. You can use an online home value estimator to get a quick and straightforward estimate of your home's worth. Here are a couple of popular options:
- Zillow: Zillow's home valuation tool is user-friendly and provides an estimate of your home's value based on publicly available data. Keep in mind that Zillow's estimates, known as "Zestimates," are not always perfectly accurate, but they can offer a rough idea of what your home is worth.
- Redfin: Redfin is another online platform that offers home value estimates. Like Zillow, it uses data from various sources to provide a valuation. While it's a useful starting point, these estimates can vary when determining your house value.
Compare similar home sales.
Comparable home sales, often referred to as "comps," are a great resource when determining home value. Comps refer to similar properties in your area that have recently been sold. Here's how to use them effectively:
- Research sold properties: Start by researching recently sold properties in your neighborhood. You can use real estate websites like Zillow and Redfin, or even consult local property records to get an idea of your house's worth in the current housing market.
- Look for similar features: Look for homes that are like yours in terms of size, layout, number of bedrooms and bathrooms, and other key features. These properties are the best indicators of your home value.
- Analyze sale prices: Examine the sale prices of these comparable homes. This will give you a better understanding of the current market value conditions in your area and help you gauge your property value more accurately.
- Adjust for differences: Keep in mind that no two houses are identical. If a comparable home has additional features or upgrades that yours lacks, adjust the price accordingly. Similarly, if your house has features that the comps don't have, factor those in as well when determining your house's worth. However, it is difficult to know how much to adjust for without the help of a professional, and expert advice may be necessary.
Hire a licensed appraiser.
When you want the most accurate and unbiased assessment of your home's value, consider hiring a licensed appraiser. A licensed appraiser will conduct a thorough evaluation of your house, assessing various factors such as size, condition, location, and recent sales in the area. Appraisers provide an impartial assessment of your house's value, which is crucial for both buyers and sellers. Mortgage lenders typically require an appraisal as part of the loan approval process.
- Cost: Hiring a professional appraiser typically costs between $300 and $800, depending on your location and the complexity of the appraisal. The average cost of hiring a home appraiser is $500, according to the National Association of Realtors®. While it's not a small expense, the accuracy and credibility it provides can be well worth it when determining your home value.
Get help from real estate agents.
When you’re selling a house, another valuable resource for determining your house's value can be a real estate agent. Real estate agents can perform a comparative market analysis (CMA), which involves assessing your house's value based on recent sales of similar properties in your area. Real estate agents have in-depth knowledge of the local real estate housing market. They understand the nuances that can impact your home's value, such as neighborhood trends and buyer preferences. An experienced agent can help you develop a pricing strategy that aligns with your goals. Whether you're looking for a quick sale or hoping to maximize your profit, they can provide guidance on getting the value of your house.
- Cost: Depending on your area, the cost of getting a CMA from a real estate agent may vary. Some agents can charge $100–$200 for a CMA, but most offer this service for free. Keep in mind, however, that a complimentary CMA from a real estate agent comes with the hopes that you will hire them to help sell your house. Agent commissions are usually around 6% of the sales price.
Find out your house value for free.
Now that you've learned about the various methods to determine your house's value, you might be wondering, "What's the next step?" If you're looking for a quick and hassle-free way to find out how much your house is worth to an off-market home buyer, reach out to We Buy Ugly Houses®. Our offers are based on relative market comps, the current condition of your house, and other factors.
We are committed to making the selling process as simple and stress-free as possible. Our three-step selling process includes:
- Free consultation: We offer a no-obligation consultation where we'll assess your property and its features. That means there’s no cost for us to visit your house, do a walkthrough, and answer your questions.
- Fast offers: Based on our evaluation and local comps, we can present you with a fast offer for your home. It’s up to you whether to take our offer or leave it.
- Flexible closing: We understand that time is of the essence. If you accept our offer, we will work toward a closing that accommodates your schedule. We can sometimes close in as little as 3 weeks.
Our team of local property buyers specializes in buying houses in various conditions, and we provide fast and convenient offers. Simply contact us today, and we’ll be happy to assist you. Don’t wait—get started today with a free consultation from We Buy Ugly Houses.
This blog is for informational purposes only and should not be considered legal advice.
