Strategies to Help You Establish Your Home’s  Value Before Selling

Most homeowners are always thrilled by the possibility of closing a house sale at a lucrative price. But things can get scary if you don’t have crucial facts. Determining the correct value of your property can be hard, especially in dynamic market conditions. Nevertheless, establishing a realistic value is important if you don’t want to shortchange yourself. The following methods can help you determine your home’s value.

Online Valuation Tools

There are numerous home value estimation tools on the internet that are provided by real estate stakeholders. The tools use complex mathematical models to calculate your home’s value. The estimates are based on various records compiled from tax assessments, ownership deeds, property transfers, and history data of similar homes in a specific area.

However, an estimate from online valuation tools should be a starting point rather than the actual market price. For example, the property condition is important when estimating the home’s value, but most Automated Valuation Models don’t account for such factors. Consequently, a dilapidated property may be less valuable than a similar one in perfect condition.

Check the Comps on Similar Properties

Previous sales data can indicate how much buyers are willing to pay for specific properties. For instance, two homes with similar details in the same neighborhood are likely to sell at almost the same price if staged at the same time. Looking at recent sales of similar properties can give you an accurate estimate of the possible value of your home.

Regardless, it’s hard to find two properties with identical features, which complicates direct comparisons. Even homes in a controlled development area with similar floor plans may close at different prices. This is because other factors like street noise and vantage views may differ and impact the final price. As such, it’s prudent to make necessary adjustments to account for the discrepancies so that you can deduce an accurate estimate.

Get a Formal Appraisal

Hiring a professional appraiser is among the most reliable methods to get an accurate valuation. Appraisers are licensed experts with sufficient training in property valuation. Appraisers are recognized by most stakeholders as the formal determination of market value. For instance, if you take a home mortgage, the financier requires a recent appraisal before disbursing funds. Typically, the appraisal determines if the house is worth the buying price.

Since appraisers charge significant fees for the services depending on property size and location, this strategy is only appropriate when a formal valuation is mandatory. If you want to sell your home fast but don’t want to pay valuation fees, a cash buyer may be your best option. You can start by checking out to know how much you can get for your property. While there are numerous buyers, it’s prudent to partner with reputable firms.


Understanding the value of your home helps you quote the right price when approaching potential buyers. On the contrary, guesswork can put you at a disadvantage because it’s hard to know when a buyer is exploiting you. It’s prudent to have an accurate estimate of prevailing market prices in your area.

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