Free Home Value Estimator

It’s important to note that a home value calculator like this one focuses only on property taxes to generate a ballpark estimate of your home’s current value. While it is a good place to start, there are other ways to get a more detailed estimate so you can compare these values and make sure you’re getting top dollar for your home when you’re ready to sell.

Keep reading to learn more about the factors that affect property value in today’s market no matter where you live and who you should be talking to if you want to get a more accurate estimate of your home’s worth.

Factors That Can Affect Your Home’s Value

Your home is likely the biggest investment you will ever make, so it’s important to understand what factors can affect its value. Knowing these factors can help you make informed decisions when it comes time to sell your property and ensure that you get top dollar for your home. 

There are a number of different elements that go into determining how much your house is worth, including location, condition of the property, age of the building, size, property type, and features. In today’s market, there are also economic issues such as interest rates and job growth that can have an impact on home values in certain areas.

Location

Location is one of the most influential factors that affect a home’s value. Location can increase or decrease the desirability of a home depending on its proximity to amenities, such as schools, public transportation, shopping centres, parks, and entertainment venues. Additionally, being located in a particular city or community can also have an impact on the perceived value of the property, which can affect the selling price.  

Size of the Home 

The size of a home can also be an important factor in determining its value. Generally, larger homes will cost more than smaller homes due to their added square footage and additional features. 

Age & Condition 

The age of a property can influence its value as well, with newer homes typically being worth more than older homes. Additionally, the general condition of a property will be taken into account when determining its value. 

Upgrades & Renovations

Any upgrades or renovations that have been done to a home can greatly increase its value. Things like new appliances, a newly renovated kitchen or finished basement, and landscaping improvements can all have a positive effect on the perceived worth of your home. 

Current Market Conditions

The current market conditions in your area can also play a role in determining the value of a home. Factors such as demand, competition, and pricing trends all have an impact on the overall value of a property. 

By researching these factors, you can get a better understanding of your home’s value and make sure that you get the best price when it comes time to sell. If you don’t have the time to try doing this yourself, leave it for the professionals (more on this below). They know all about the real estate market trends in your area and have access to sale prices on comparable homes.

What Other Ways Can I Estimate My Property Value?

If you’re looking to get an accurate assessment of your property’s value, using a home value estimator should be your first step but don’t stop there.

Talk To Real Estate Professionals

Asking real estate professionals to estimate the value of your home is one of the best ways to get an accurate assessment. A real estate agent will take into account all of the factors that can affect your property’s value, including its location, size, age, condition and upgrades. 

Additionally, they will be able to look up MLS listings to find recent sales of comparable properties in the area and provide a more accurate estimate of your home’s value. Real estate agents know the local housing market well and are able to use their expertise to identify other market factors or trends that could mean your home is worth more than you think.

Get Your Home Appraised

An appraiser is also another resource that can help you determine how much your home is worth. Appraisers will inspect your property and look at similar properties in the area to come up with an estimated market value for your home. This estimate may be used for various reasons, such as refinancing or getting a home equity loan. 

Here are some of the main external factors considered in a home appraisal:

• location and type of neighbourhood
• property size
• current zoning rules
• any future zoning changes for the area

Home appraisers will also consider internal factors in their evaluation, including: 

• the square footage of your home
• how many bedrooms and bathrooms there are 
• your home’s foundation and structural integrity
• the materials used for fixtures and surfaces

Using a home value estimator is an easy and convenient way to get an estimate of your property’s worth. However, to get the most accurate assessment possible, it’s best to consult with real estate professionals or have your home appraised. 

Realtors® can provide insight into market trends that could affect the price of your home while appraisers will inspect and assess external and internal factors for a more complete evaluation. By utilizing these resources you can be sure you are getting the most accurate estimation of your property’s value before deciding on a sale price.

Note: This article is provided as a general source of information and should not be considered legal or financial advice. Please consult a professional for specific advice regarding your individual situation.