How to Determine Your Home’s Worth to Sell It Fast

Most people find selling their homes a heartbreaking experience, especially if they’ve lived in it for so long. People sell their homes for a lot of reasons: financial difficulties, divorce and repossession to name a few. However, there are also less unpleasant reasons people sell their homes and these include outgrowing their starter houses and being ready for a bigger place, a job transfer or a new relationship. Whatever the reason for the move and selling, people will always ask, “How much is my house worth?”

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There are companies that advertise “we buy homes,” and you could actually get in touch with them in case you’re planning to sell your house. However, there are things you need to do to make your house sale ready.

 

First of all, it is important to distinguish the difference between determining your house’s worth and setting a price for it. Setting a price or estimating your home’s value is done via an appraisal or a comparative market analysis while determining its worth is based on what prospective buyers are willing to pay for it. Your home’s value is calculated by a certified appraiser who bases his calculations on the following: square footage, the quality of construction, the design, floor plan, the neighborhood where the house is located, proximity to commercial centers and schools, and lot size. You may also determine your home’s value online through a home value tool but a professional appraisal will give you more accurate results.

 

Other responses to queries on how much your house is worth will best be answered when you try to walk in the shoes of prospective buyers. It is important to price your home right for it to sell fast. If the price isn’t right, all the remodeling and fixing in the world won’t get your house sold. Start by going online and shopping around for houses similar to yours and resist the temptation to include houses with features that yours doesn’t because this kind of thinking will eventually lead to overpricing. Next, consider an expert’s opinion by inviting at least three competitive brokers to estimate the value of your house. This will allow you to know what’s happening in the market now and as most brokers will tend to flatter the homeowner by quoting a big price, the broker who quotes the lowest price is always right.

 

Lastly, take out the list of comparable homes you found online and average those with the brokers’ estimates, price your home 10%-15% lower than the number you get and you have the ideal price that will have your home sell fast in no time.