This is the most frequently asked question when I tell people at parties that I am a real estate agent. Also, this is one of the most important questions if you have plans to move.
If you go searching on the Internet you will come across many online valuations. Nice to take a look at that, because you get the value within 1 minute, but you won’t get any real reliable advice. This is because the value is determined by some fixed values you can find online of your property, which are almost never correct.
- You can only get good advice if a real estate agent has seen your home. The following are considered in determining value:
- Location of property
- Advantages and disadvantages of the neighborhood
- Area of the property
- Condition of the home, inside and out, think finishes and age of kitchen and bathroom
- HOA (active or dormant
- Number of homes for sale
- Recently sold homes
As you can see, there is more to it than you might have thought.
To calculate the excess value of your home, it is best to contact your mortgage lender. This one can tell you the amount of your mortgage and any linked funds.
If you are interested in knowing the excess value of your home, you can call me. I will visit you without obligation and give you sound advice.