What’s Your Property Worth?
Home valuations give you important information that can help you make an informed decision regarding selling your home. It’s smart to be aware of how much equity you have in your home and comparable sales.
What is a Home Valuation?
A home valuation determines the current market value of a residential property. It’s important for real estate transactions. When getting a mortgage, the home acts as collateral and a valuation helps prevent excessive borrowing and financial losses. A thorough home valuation safeguards the lender’s ability to recover costs if the mortgage is not fully repaid.
How is the Value of My Home Calculated?
The value of your home is determined by considering factors like its location, size, age, condition, improvements or renovations made, and recent sales of comparable homes. Current market trends and local market conditions are also factors. The valuation tool is dynamic and can be influenced by inventory trends, interest rates, and current buyer sentiment.
How Accurate is an Online Home Valuation?
Online home valuations provide a good starting point, offering a general estimate of your property’s worth. However, they may not factor in recent renovations, unique features, architectural significance, architectural significance, and subjective market perception that could impact your home’s actual market value. For the most accurate assessment, consider scheduling an in-person appraisal.
Please use this tool to receive a robust, accurate assessment of your home. For the most precise valuation, reach out to Koushul to discuss a customized Comparative Market Analysis or an appraisal of your home.