How Much Is My House Worth?

by Lee Wyatt
(last updated August 21, 2015)

If you are moving into a new home, then chances are really good that you know how much your house is worth. However, if you have been living in the same home for a while chances are you have asked yourself at least once, "How much is my house worth?" There are several ways that you can go about getting this question answered. Before listing these different ways though, a small word of warning. Since there is a varying degree of accuracy between these options, you are going to need to be careful with how you use the information.

  • Online. The easiest way to find out what your home is worth is to go online. When you go to such websites as Eppraisal.com, Homegain.com and Realestateabc.com (which are all free sites) you get an estimate. These estimates can vary pretty wildly. For example at one site my home was given an estimated worth of $175,458.00—$237,384.00, while at one of the others I was given a price range of between $181,630.00—$213,217.00. Not exactly what one can say is accurate, but good enough to give you a general idea. Unfortunately, you cannot usually use these types of estimates when getting a home improvement loan, and are definitely not good enough to get a mortgage loan.
  • Realtor. A realtor is a good way to get a fairly accurate price range for your home. Usually these professionals are going to charge you a small fee, but often this is worth it since many banks can use a realtors' estimate when you are asking for a home improvement loan. The way that a realtor makes their professional estimate is to take the average property value, or sales records, from the surrounding area, and compare your house to similar properties. Often, they take the average of several similar properties to come up with your estimated price range. You are still going to be given a range (as in the option above), but this range is going to be much narrower.
  • Appraiser. The best, and also quite frankly the most expensive option that is available to you is hiring an appraiser. An appraiser is an expert that has been trained in being able to properly price property. When a full on appraisal is going on, the appraiser comes out and inspects every inch of your house and property. The initial examination is going to take several hours, and the results can take up to a few weeks before you get them back. While this process is more time consuming, it is the most accurate available, and the results can be used for any legal purpose. If you have the time and money, then this is definitely the method you should use.

Author Bio

Lee Wyatt

Contributor of numerous Tips.Net articles, Lee Wyatt is quickly becoming a regular "Jack of all trades." He is currently an independent contractor specializing in writing and editing. Contact him today for all of your writing and editing needs! Click here to contact. ...

MORE FROM LEE

Cleaning Pillow Shams

Cleaning pillow shams can often present a few unique problems. The reason for this is that pillow shams are simply fancy ...

Discover More

De-Icing Your Car Door

One of the most common issues that a car owner can face during the winter is their door getting iced shut. Instead of being ...

Discover More

Planning Your Winter Garden

Despite what many people think, just because it is wintertime doesn't mean that you can't still do a bit of gardening. The ...

Discover More

Find the Right Tool Right Away Finally, a homeowner's set that includes all the tools needed to complete basic DIY projects at an affordable price! The tools are stored in a molded case for security and portability. Check out Stanley 65-Piece Homeowner's Tool Kit today!

More Home Improvement Tips

Finding a Good Contractor

It goes without saying that a contractor is a necessity for any large scale home repair or remodel project, since they are ...

Discover More

When Should I Get an Appraisal?

One of the questions that homeowners ask themselves is, when should I get an appraisal? While you can get one done at any ...

Discover More

Successful Garage Sales

If you've just a few items to sell at a garage sale, you could ask family, friends, or neighbors if they'd like to ...

Discover More
Subscribe

FREE SERVICE: Receive an e-mail several times each week with a featured home improvement tip. Enter your address and click "Subscribe."

Comments

If you would like to add an image to your comment (not an avatar, but an image to help in making the point of your comment), include the characters [{fig}] in your comment text. You’ll be prompted to upload your image when you submit the comment. Images larger than 600px wide or 1000px tall will be reduced. Up to three images may be included in a comment. All images are subject to review. Commenting privileges may be curtailed if inappropriate images are posted.

What is 6 + 4?

There are currently no comments for this tip. (Be the first to leave your comment—just use the simple form above!)


Subscribe

FREE SERVICE: Receive an e-mail several times each week with a featured home improvement tip. Enter your address and click "Subscribe."

(Your e-mail address is not shared with anyone, ever.)