How to Find the Appraised Value of Your House
Homeowners are often curious about the current value of their homes. When searching for a home value, there are a couple different methods to consider. Online valuation tools can provide an estimated value, and home appraisals can provide a more accurate value. Understanding a few techniques for valuing your home can help.
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Instructions
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Use online tools. Valuation tools on websites such as Zillow.com allow homeowners to get an estimated value of their home. Zillow.com monitors recent sales activity in your area. It takes the average of comparable sold homes to get an estimated price range (based on the home square footage, number of bedrooms and bathrooms).
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Talk with a real estate agent. Real estate agents have tools that allow them to review recent home sales. Most real estate agents will provide you with your home's current value at no cost (hoping that you'll use their services later).
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Hire an appraiser. The most accurate way to determine the appraised value of a home is to hire an appraiser. These professionals charge about $400 to perform a home appraisal (depending on the company). If you're thinking of selling your home, it's worthwhile to get an appraisal. However, if you're just interested in an estimated value of your home, other options might be best.
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Try using a couple different methods to check the accuracy of the estimate. For example, a homeowner might check their home value with online valuation tools and talk with a real estate agent. Taking advantage of both of these methods will allow the homeowner to get a more accurate picture of the home's current market value.
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Tips & Warnings
If your home value isn't as high as you hoped, don't stress out. Consider using an alternate valuation tool or get a second appraisal.
Before scheduling an appraisal, take care of home repairs. Otherwise, when the appraiser inspects the home, she might knock down the value. If you're planning on selling the home, it will make the house more attractive to potential buyers as well.
References
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