How Much Your Home Worth | Surrey Mortgage Broker

HOME VALUE ESTIMATION

Valuing Your Home

Is it time for a change of scenery? Are you looking to move? If so, it is important to know the value of your home without selling it blindsided. Although the valuation might sound time-consuming and complicated, the concept behind it is very simple. Basically, when you are valuing your home, what you actually do is estimate the current market value of it. But it is important to be up-to-date with it since many external factors can easily fluctuate the current value of properties in Canada.

A house is often one of the most valuable assets that we own. Hence, knowing how much is the home worth will help you understand how well you are doing financially.

But more importantly, it will give you an understanding of the going rate of your property - in case you are looking to sell it. Because having a rough estimate will help you attract the right buyers and smoothen out the selling process.

WHY CHOOSE US

How Does The Valuation Help You?

Get To Know Your Options

Having a rough idea about how much is the home worth will help you identify the options you have with regard to the property. Is it a fixer-upper, can it be sold or given on rent, and so on and so forth. This will help you identify the most suited option with regard to your property, and do what is best in the long term.

Set A Reasonable Asking Price With Confidence

Knowing the current market value of your home will help you set a reasonable asking price for your home. This will help attract the ideal buyers without losing their trust. Because overpricing or underpricing your home will leave space for bad impressions and misunderstandings.

Put Your Plans To Motion

If you are looking to purchase a new home, valuing your current home will give you a good head start. Because you have a rough idea as to how much you will be able to gain through the sale and plan the new move accordingly.

FUN FACT

Get Your Valuation Done

If you are looking to get your home valuation done, there are two main options that you can consider. The first being to hire a professional real-estate company that performs property valuations. Or you can even make use of the online real-estate valuation tools. Either way, you have to make sure that your valuation is done against the most recent prices and data.

When it comes to assessing how much is the home worth, comparable homes play a key role. Comparable homes are recently sold houses that bear significant similarity to yours. Knowing the selling price of such comparable homes helps decide a reasonable and fair value for your home as well.

HOW TO SELECT COMPARABLE HOMES

When choosing a comparable home, there are several factors that you need to look into. To make things easier for you, let us look at what these factors are.

When Was The House Sold?

When selecting a comparable home to evaluate how much is the home worth, it is important to select one that was sold recently. Looking into sales that happened more than six months ago would not be ideal.

Features Of The House

Make sure that the comparable home has features similar to yours. The number of rooms and baths, size of the house, garden area, and parking are few features that you can begin your comparison with.

Distance From A City

To make an accurate assessment of how much is your home worth, it is optimal to select a house that is closer to Cities. Preferably in the same neighbourhood.

Factors That Affect How Much is The Home Worth
If you are looking to evaluate your home’s value, it is important to keep an eye on the external factors that could make an impact. The current market dynamics is one such key factor that could impact the value of your home since real estate is a sensitive market in Canada. In addition to this, the location of your home, the facilities available in the neighborhood, the atmosphere, and other unique features house can also affect its worth.