FAQ for Home Value Estimator
Before you list your home, it’s crucial to have a rough idea of how much it’s worth. The question is, how can you accurately assess home values? And how much stock should you place in online home value estimator tools? Here are a few quick answers to these and a few other common questions about home values.
What Does Home Value Mean?
When we talk about home value, we’re simply talking about the amount of money you’d likely make if you sold your home today. Home values can be affected by external market forces, as well as factors intrinsic to the home itself (such as its size, location, and condition).
What Does it Mean to Calculate the Value of Your Home?
Online home value estimators are designed to provide a basic price range, guiding you as you choose an initial list price for your property. It’s crucial to keep in mind that, while these home value estimates can certainly be helpful, they are just estimates, and do not take the place of professional real estate appraisals.
How Accurate are Home Value Estimator Calculators?
A home value estimator can give you a decent estimate on the basis of your home’s age, size, and the current housing market. With that said, there are plenty of crucial factors that these calculators just cannot account for, like renovations, repairs, or special amenities that may make your home more or less valuable.
What’s the Difference Between Appraisals and Home Value Estimators?
A professional appraiser can tour your home and provide a more accurate assessment of its value, based on square footage but also the condition of the house. Mortgage companies use these appraisers to ensure they do not lend more money than a home is really worth.
How Do You Increase Your Home Value?
There are plenty of renovations you can make to increase your home’s sale value and appeal. Bathroom and kitchen remodeling projects usually offer a lot of bang for buck. Updating carpets and appliances can also be helpful. By contrast, adding swimming pools or home office spaces may not contribute as much value as you’d think.
What’s the Best Home Value Estimator?
As you consider your options for assessing home values, we invite you to consider the home value calculator here at SOLD.com; it can provide you with a good ballpark as to your home’s basic price range. Additionally, subscribe to SOLD.com to receive regular updates about buying and selling real estate.
