Do you know what your home is worth in today’s housing market? According to a recent Harris poll, nearly half of those surveyed said they didn’t know the value of their home. With home prices continuing to rise, learning the value of your home will help you decide if now is the right time for you to sell your house.

How To Determine The Value of Your Home

Have you ever wondered "how do I price my home"?  If you want to sell your home for the highest price, you’ll need a professional to determine the value of your home. Your real estate agent will give you an accurate estimate of the price you could sell your home for based on similar homes that recently sold in your area. They can also bring in a home appraiser to get a second opinion of your home’s value. In today’s housing market, homes are selling over the asking price a lot of the time.  Use a professional to determine the cost of your home, or you could leave thousands of dollars on the table.

What if you price your house too high?  A home priced well above market value could result in disappointment for the homeseller.  An overpriced home may sit on the market for an unusually long period of time, or it might not sell.  Your real estate agent is your best ally when it comes to pricing your house so it sells quickly and for a premium price.

Determining home value:  real estate agent + home appraiser

A friend of mine remodeled the home he’s been living in for the last 4 years and recently found a house that he wants to buy. He reached out to his RealtorⓇ to learn more about the current value of his home. He was pleased and shocked to learn that his 1440-square-foot home was worth $600,000 (an incredible price in our area). He looks forward to moving soon. Imagine knowing that the value of your home is high enough for you to purchase the house of your dreams.

Imagine learning the current market value of your home is enough to buy your dream home.

Selling Your Home and Relocating

If you plan on relocating, your agent can also calculate the cost of housing there. You might ask your agent to calculate the cost of homes in one location compared to another to help you get the most out of your home purchase. If you work from home, take advantage of living in an area with a much lower cost of living. Based on the amount of money you want to spend on your new home, your agent can show you the most cost-effective locations.

Are you selling your home and relocating? Your real estate agent can calculate and compare the cost of homes in a new location to help you get the most for your money.

Conclusion

The forecast for the home seller’s market is favorable, but if you don’t know the value of your home, you hold yourself back from moving into your next home.  How do you price your house?  If you want to get top dollar for your home, rely on your real estate agent and home appraiser.  When your house is priced accurately for today's housing market, it will typically sell faster and possibly for a higher-than-list price. Armed with the true value of your house, you can decide if now is the best time to sell your home.

If you want to learn more about the ins and outs of selling a home, please download our comprehensive home seller's guide and bookmark it for future reference: