Figuring out what your house is worth can be tricky business. But it doesn’t have to be stressful! Here’s the inside scoop on how to get an accurate value for your most valuable asset.
First things first—value is subjective. Just like beauty is in the eye of the beholder, your home’s value depends on what buyers in your area are willing to pay.
The internet makes it easy to get a ballpark figure. But sites like Zillow can’t account for hyperlocal factors that affect value, like recent remodels or unique neighborhood perks. Their computer-generated “Zestimates” are a starting point, not the final word.
Your best bet? Chat with a local real estate agent. They have their fingers on the pulse of current home prices in your specific area, not just the general market. Have them prepare something called a “comparative market analysis” or CMA.
The agent will compare similar homes that recently sold near you, considering things like square footage, age, and condition. This gives you an up-to-the-minute look at what buyers are paying for comparable properties.
Even then, the CMA is still an estimate. The true value will be determined when you actually sell and get an offer in your hand. But an agent’s expert analysis gets you lightyears closer to understanding your home’s potential worth.
Lean on a local real estate pro to get straight talk on your home’s value. Their insider expertise keeps you informed, so you can set expectations and make smart decisions. And isn’t that what really matters?