Whether you’re selling your home, refinancing, confirming your accrued equity, or understanding market trends better; knowing the value of your home can help.
But it’s important to keep in mind that the process of getting a home valuation is complex and includes a lot of combined details that play a role in determining how much your home is worth. Things like exact location, improvements and special features are hard for computer models to nuance, which is why reaching out to a local real estate professional will get you the best estimate.
Determining Value
However, there are a few other ways to determine the value of your home, depending on your needs. Some of the best and easiest include:
- Using an online valuation tool. If you just want a rough estimate for your own personal knowledge, along with info collected from public records, using an online valuation tool to get a free home appraisal should suffice. However, if your goals include refinance or sale, home valuation tools typically don’t have enough data to provide an accurate valuation.
- Talk to an experienced real estate agent. If you’re considering selling your home, consulting a real estate agent is an affordable choice. Our agents at WK Real Estate will provide a free comparative market analysis (CMA) as part of our services. We can email or mail you a copy or meet in person to discuss the specifics if you prefer.
- Your local county assessors office posts home valuations online as part of a public records system that anyone can access. You can look up your address on their website at any time to see the latest value.
- Request a professional appraisal. If you’re considering accessing your home’s equity in a home equity line of credit or a cash-out refinance, your lender will typically require a third-party appraisal. Lenders often have a fee for this service, so be sure to check the cost first to see if it makes sense for you.
What factors impact appraised home value?
Some things boost your home’s value, while some things decrease your home’s value. There are things on both of those lists that can’t be changed; but there are also things on both lists that can be!
Fixed Factors:
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Location
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Supply and Demand
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Age of the Home
Controllable Factors:
There’s a lot that goes into getting an accurate valuation of your home and it can often be overwhelming, and we get that. That’s why WK Real Estate can help you either with a simple online home valuation tool or a detailed CMA of your home with no obligations. Interested? Feel free to reach out to any of our agents.