Thinking about selling your home?
How to Determine the Value of Your Home in 8 Easy Steps
Whether you’re a new homebuyer or a long-time owner, understanding how a home’s valuation is determined and having an idea of your own home’s worth is a smart move financially. After all, your home is one of your biggest investments, so keeping track of its value just makes sense.
A property’s physical structure tends to depreciate over time, while the land it sits on typically appreciates in value.
Top Things that Determine a Home’s Value
The degree of depreciation and/or physical obsolescence varies from one property to another, but if left alone, properties continue to depreciate until they no longer add any value to the land. Some owners even raze physical structures to maximize the value of their parcels.
There are certain tried and true tactics you can employ to help you get a ballpark figure for your home’s worth.
‘What Will My Home Be Worth?’ Expert-Approved Tactics to Determine Property Value
Location and real estate market conditions help determine your home's value, but unfortunately, pinpointing an exact number is far from a perfect science.
