Real Estate

Have you ever wondered "how much my house is worth?" If you don't need to sell it and just want to know how much your house is worth, then it s worth whatever you say its worth. If for example an interested buyer comes up to you and says he wants to buy your house and asks you for what specific amount you are willing to sell. Then any answer could be right. You could price it a million dollars for all he cares, it is up to the buyer if he is willing to pay or not.

But if you need to relocate or you need the money badly, then that is another story. You should probably sit down on it and ask yourself and the experts "how much my house is worth". The buyers would not care for the sentimental and emotional value of your house. They would not care if your baby took his first steps in your family room, they would not care if you baked your first cookies in the kitchen; they want to know the market value of your house and that is what they are willing to pay.

Use comparable homes when estimating the value of your home, you can survey for houses in your neighbourhood that had been sold in the last 6 months and compare the prices. Find houses that are closely similar to your house in terms of size and the description of the property. Compare what your house has or does not have against the other houses. From there you can increase or decrease the price depending on added features you have or features you don't have. From there, you can have an estimated price for how much your house is worth. Negotiations of the price could come after you have settled on a fix price for your property. However appraisals, using comparable estimation, are not really an exact science.

Sometimes it is best to seek the help of a professional appraiser to ask how much your house is worth. This can be helpful if a prospective buyer doubts your estimation and can alienate doubt of the real market value. When consulting an appraiser, tell them about the renovations you made and the added fixtures you've added to make the price more suitable for you.

"How much is my house worth?" This is a question better asked to real estate agents who have sold homes within your area. Market analysis is usually free and they would work on commission only if they sold the house. Not only will you get your money's worth, it will also save you a lot of time and effort.