Several factors affect the housing market and cause varying fluctuations for those selling their home and those looking for a new home.
Estimating the current market value of your home is useful for a variety of reasons, such as:
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Buying a new home since the approved mortgage is based on the appraised value of the home, not the listed price.
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Selling your home since you wouldn’t want to undersell your home and shortchange yourself.
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Investing in the right renovations, such as your windows and doors, which can help increase the real value of your home. Consult with an appraiser to learn which renovations work to your advantage prior to upgrading.
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Getting accurate coverage, for possible future damages to your home, in your homeowners insurance policy.
To estimate a home value, there is a fancy algorithm encompassing supply and demand, interest rates, economic growth, demographics, location, parking, improvements and more.
Top 5 Home Value Estimator Tools
Fortunately, you don’t have to fuss with an endless algorithm to compute the estimated value of your home. There are several free home value estimators available for you online, including the following five tools:
1. Zillow
2. RE/MAX
4.Redfin
5. Realtor.com
What’s Your Home’s Value?
Whether you’re selling or buying a home, getting the best value is important. Here are some ways you can boost the value of your home. To discover more tips on how you can keep your home safe, energy efficient and get the most bang for your buck, click the button below to subscribe to our blog.
