When selling your home, one of the hardest questions to answer is how much your home is worth. It’s difficult to know this on your own and you need to help to determine this. Knowing the value of your home can help you know if you’re getting a fair offer on your home.
The Buyer’s Evaluation
One estimate you can go off of is that of your buyer. If you sell to a cash buyer, they will make you an offer based on the value they think your house has. How do they determine this value? A cash buyer will take into account several factors to determine the value. Your home’s location is one major factor. They will look at what amenities you’re close to, what the local crime is like, the types of schools, jobs, etc. in the area, and more. Next, they will look at the condition of your home. Have you made updates? Is there any damage? Finally, they will compare other similar homes to yours and see what they have sold for.
If you want a better idea of your own, you can use an online appraisal tool. There are plenty of free tools available so you can know the value of your home at no additional cost. With this tool, you will enter in several details about your home and the algorithm will determine the value. It will take into account the sale history of your home as well as what homes nearby have sold for. Keep in mind that online appraisal tools offer a good ballpark estimate but they are rarely exact.
Hiring a Professional Appraiser
For the most exact value, you can hire a professional appraiser to come and evaluate your home. They will be very thorough as they go through everything. As they review your home, they’ll look at all possible damage and take note of how extensive the damage is. They will also include any updates you’ve made to your home as they calculate the value. Professional appraisers also have access to additional data that will help them determine the correct value of your home. If you choose to hire an appraiser, make sure you can afford the cost.
There are many ways you can figure out the value of your home. The option you choose will depend on your situation and how specific you want the value to be. If you sell to a cash buyer, make sure you sell to an established buyer that is familiar with pricing homes.
Joe Home Buyer can provide you with a fast cash offer. Click here to learn more and get an offer.