What’s My Home Worth?

You may be wondering “What’s my home worth?” Perhaps you’re considering moving up to a larger home, or maybe you’re downsizing because the kids are leaving the nest. Perhaps it isn’t square footage that’s the issue, but location or desirable features. In any case, selling your present home will comeinto play as part of the transaction. An accurate picture of the worth of your present home can help you make plans to firm up the budget for that prospective new home. How can you find out how much your home is worth?

Check Comparable Homes

One of the easiest ways is to price comparable homes in your vicinity. Find homes that are for sale or have sold recently with features comparable to yours. The prices of these comparable homes can give you a benchmark to start from. Of course, it’s often difficult to find exact comparisons. There will likely be differences that need to be adjusted for. Also, any unresolved problems with your home need to be taken into account.

Enhance the Value

There are a number of relatively inexpensive and easy methods to enhance home value. Lawn landscaping can greatly improve curb appeal. Updating the kitchen may be the most effective place to spend money inside, followed by a bathroom makeover. A fresh coat of paint or power wash outside often works wonders. Look for the most inexpensive ways, the biggest bang for your updating dollar. Some updates, like finishing a basement, for example, are usually only good investments if you plan to stay awhile. Avoid these.

Get a Realtor Involved

The best solution is often to get a nearby professional realtor who knows the area involved. A realtor can give you an excellent idea how homes similar to yours are priced. And a good idea where to look for the type of home you desire. A good professional realtor can guide you to the best deals, help you through the complex home buying process, find the best listing price for your home, and review all documents. A professional realtor can outline realistic options and the best ways to effectively enhance your home for the selling process.

Find the Best Listing Price

Yes: “What’s my home worth?” is certainly one of the most important questions you can ask as a seller. Finding the proper listing price is essential to the selling process. If the price is too high, a property likely won’t sell quickly or at all; priced too low, valuable equity is left untaken. Realistic assessments of market conditions and home values are vital in any transaction. The Ferguson Group has years of experience in the Washington DC, Maryland, and Northern Virginia real estate areas. Contact The Ferguson Group at (847) 903-1030 today for dedicated, professional assistance with any real estate transaction!

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