For a precise quote, invest in an appraisal
As part of any home sale or refinancing, a licensed appraiser will determine the value of your home through a comprehensive assessment of the property. However, even if you’re not in the process of selling or refinancing your home, you can always hire an appraiser to do a thorough evaluation of your home, inside-and-out. Appraisers will usually derive an estimate that is closest possible to what you’d receive from a buyer. They’ll typically go a step beyond your Realtor, to incorporate intangible factors in their assessment, like the layout of your home, spaciousness of the rooms, landscaping, and any unique architectural details.
The take-home on tracking your home value
No matter what method you use to determine the value of your home, there’s always some degree of subjectivity and variation between the estimate and the offer you’ll receive from a buyer or financial institution. At different times, you may have different reasons for finding out what your home is worth, and it’s perfectly reasonable to choose a different method or combination of methods to evaluate your property’s value. However, at the end of the day, it’s better to have a rough estimate than no clue of the value of your home; after all, it’s a big part of your financial health now and in the future!
Rana Khanjani, MBA
San Fernando Valley Iranian-American Real Estate Agent
Providing Services in English and Farsi
Address: 22020 Clarendon St. 200, Woodland Hills, CA 91367