Interested in knowing the house value, thinking it as difficult one. So not to worry anymore. Here, In this blog we will share the top amazing ways to get your house valued.
Before starting, We would like to tell you – What you can do by knowing the fair market value of your house –
- Helps in buying and selling the house.
- In paying property tax.
- In refinancing your house.
- In property insurance.
- To keep house as mortgage against any loan.
- To get an idea about your house value.
Among all this, any can be your reason to have a property valuation. But the real estate agents and investors know the value of having the right property valuation services.
As it helps in making the correct financial decisions and saves you from making any financial losses. Infact, it is found that people who know the accurate value of their house saves more money and earn high profits.
Here are the methods of residential property valuations that can help you in getting the right independent house valuations.
Comparison methods –
Few conditions are applied to use this method for residential valuation.
First find the house, alike your one – We can understand that finding the similar house is tedious task. But as the method’s name suggested sales comparison method, you have to find the house like your’s. So you can make the comparison and evaluate the value.
It should be nearby your property – The property that is similar to your house should be located in your surrounding area. For example – If your house is in residential area and the property similar to your property is in commercial area than the value of both the properties differ because commercial area costs are higher as compared to the residential area. As commercial area is used to make the money. So before considering any property as comparable one make sure to check where it is located. It is suggested that comparable should be near to subject property.
It’s sold out price should not be too old – The property that you are comparing with your’s property should not have too old selling price. Because property value and market conditions changes frequently. It’s of no use, when selling prices of comparables are not of current days.
One is not enough – Finding the single comparable is not enough. It is vital to find the at least 2,3 comparable property to make the comparison in a better way.
After finding the comparable compare the property and make some adjustments like is comparable selling value of $5,00,000 and having 4 bedrooms and 5 bathrooms and a garden along with garage. And you have 3 bedrooms, 4 bathrooms with backyard and vertical gardening facility than surely your property’s worth is less than $5,00,000 and then you have to make calculations accordingly to get the accurate value of your house.
2. Appoint a valuer – Find the 2,3 best property valuers in your city and ask them about their residential house valuation cost and services they will offer. Compare and then hire the best one. Property valuers are the professionals who calculate the current, actual and accurate market value of your house.
3. Online valuation tool – There are several free online valuation tools available in the online market. Which is easy and quick to use. But one should not rely on these tools to know the house value. To get an approximate idea you can use this tool.
These are the amazingly awesome ways to find the actual market value of your house.