If you are like most homeowners, you have probably often wondered what your home is currently worth.
You may want to know the value of your home just because you’re curious, or because you need to know the financial value of this important investment, or even because you’re thinking of making a move in the near future.
These are all good reasons. So how do you find out?
Well, a lot of homeowners simply guess. You might have heard a friend or colleague say, “We bought this property for such and such five years ago. So I bet we could get such and such if we sold it today!”
Unfortunately, a guess is just a guess. It’s often wrong.
Other homeowners might find out what the “house around the corner” sold for last month, and base their estimate on that. While that’s actually a more accurate predictor of what your home is worth, you can still be off by tens of thousands of dollars.
The best way to find out what your home would sell for in today’s market is to calculate its Current Market Value. This is done by reviewing what similar homes in your area have sold for recently – usually within the last six months – and then, based on that data, and the unique characteristics of your home, determining the value of your property today.