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How Much Is My House Worth? This Is How to Find Out

If you’ve been thinking about selling your house recently, there’s probably a nagging question on your mind. The first thing you want to know is “How much is my house worth?”

You’re not alone in asking that question. The value of your house will greatly affect what you can do moving forward.

If your home has a lot of positive equity built up, it can provide you with a substantial downpayment on your next home. Alternatively, you could refinance your home and use the equity to consolidate your debt or make home improvements.

Regardless of why you need to know the value of your home, we can help you find the answer. Keep reading for a quick guide on valuing a house.

Hire a Home Inspector

Before you can accurately determine the value of your home, you need to know what condition it’s in. If there are any damages or issues you don’t know about, they will significantly impact your home’s value. It’s best to know about these things now, rather than when you go to sell or refinance.

We recommend hiring a professional home inspector. Their job includes inspecting a house to identify any major and minor damages or concerns. This could be anything from roof repairs and foundational issues to electrical issues and water damage.

Conduct a Comparative Market Analysis

Once you know the condition of your home, you can begin to answer the question “How much is my house worth?” Conduct a comparative market analysis using the homes in your neighborhood that have sold in the last three months.

It’s important to use homes in your direct neighborhood, as the location is a major contributing factor to house prices. It’s also important to keep the timeline narrow because the real estate market fluctuates constantly.

Then compare your home to the ones that sold. Compare and contrast square footage, condition, rooms, features, property size, etc.

Have Your Home Appraised

One of the best home selling tips is to have your house officially appraised. A home appraisal includes an in-person inspection of your house by an appraiser. Their valuation of your home will hold a lot of weight, particularly among potential buyers.

If you’re wondering “How much is my house worth?” an official home appraisal is going to give you the most accurate answer. In most cases, it will also be required by the buyer’s mortgage provider.

Get a Free Cash Offer From a Cash Home Buyer

Finally, if you want to learn how to sell a house with as little complication as possible, you can reach out to a cash home buyer. They will give you a fair cash offer for your home, which you are not obligated to accept.

This will give you a good idea of what your home is worth to cash buyers, as well as provide you with a quick solution. If you need to sell your house fast, for any reason, this is your best bet. Click here to get a sell my house fast online quote for free.

Are You Wondering “How Much is My House Worth?”

If you’re planning on selling your home, it’s important to understand what your house is worth. If you ask too much, it will never sell. If you ask too little, you’ll be taking money out of your own pockets.

Follow our guide to find the answer to “How much is my house worth?” And if you need more home selling advice or financial tips, don’t go anywhere.

Our blog is full of helpful and informative content. Browse through some of our other articles while you’re here.

Red Note: 30 September 2022

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