Throughout the last few years, it should come as no shock that most homeowners have looked around and wondered if it was time to sell. With the market as it is, it’s an enticing idea, especially for those who own a second property. With the rise of remote work, there have also been plenty of people trading in their lives as city dwellers to become suburbanites in a place where their dollars can take them a lot further.
With these massive changes in the market and where many are choosing to live, you might have started asking yourself “What is my home worth?” but for any number of reasons getting a professional appraisal might feel a little too serious. Don’t feel that means you have to be left in the dark. In fact, here are a few simple ways to get just the idea you are looking for.
There’s Plenty Of Online Tools
To those who have bought or sold in the last couple of years, this will be the obvious place to start. On the other hand, those who have owned their property for the last couple of decades might not quite be aware of all the tools available at their fingertips. There are plenty of options when it comes to online estimators and there’s typically no cost involved.
Most major online real estate companies as well as lenders are going to have free tools that could give you a rough idea of your home’s value. These values are calculated through the use of public records and tax history as well as what the surrounding area is like in terms of average home value.
Get A Market Analysis
Any local real estate agent would be happy to offer a comparative market analysis. Going this route won’t be quite as detailed as a professional appraisal but it’ll come with more information than simply using publicly available online tools. They will be able to look at what local homes have sold recently and see how your home compares to those.
The information they offer will come with their detailed knowledge to better estimate an accurate value. While not a large issue, going this route might quickly feel too serious for those who are simply curious but don’t imagine themselves quite ready to sell. As mentioned, an agent would be happy to do this but they also might be hoping to then become your personal agent and list your home on the market.
Look At Similar Homes
If bringing in a professional does actually seem too serious for your level of interest, simply looking at the history of recently sold local homes might be all the information you are looking for. When going this route, pay careful attention to a few particular things. Most importantly, look seriously at where the homes are more than properties that seem similar on the surface.
While aspects of a home, such as square footage, do determine the value largely consider both the exact town and school district your home and similar ones are in. Even comparable properties that are half a mile apart, but with different taxes and schools, can be drastically different in price.
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