Evaluating Your Home’s Value: The Basics

You likely remember what your house cost when you moved in. You might even remember your down payment amount! But when it’s time to pack your things for a new property, it’s easy to forget: in terms of “home value,” you’re not moving out of the house you moved into.

Sometimes—if, for instance, a shopping mall opens nearby—your property value can rise without you lifting a finger. But more commonly, value changes come down to owners’ hard work. For example, when you replaced your carpeting with hardwood, that added to your home’s value. So did the summer you spent staining the veranda; your Christmas bonus splurge on granite countertops; and your top-to-bottom basement renovation.

There’s a flip side to home value, too. Numerous factors (even normal wear-and-tear) can reduce the size of the offers you’ll likely receive from buyers. All in all, determining your home’s current worth is a daunting task for even the most DIY, detail-oriented sellers. Attempting to “ballpark” this figure solo is not recommended: before settling on a goal selling price, it’s wise to consult a mortgage professional.

As a mortgage professional, I’m happy to be your first point of contact when it comes to determining your home’s listed price. I can assist you in obtaining a clear picture of your home’s bells and whistles, as well as its flaws. I can also inform you as to whether a more comprehensive evaluation is necessary. I’ll help you determine your home’s current value–allowing you to sell your property at the best possible price, as quickly as possible.

I hope you’ll contact me for help evaluating your home’s value, or for assistance with any other mortgage-related questions you might have. I look forward to hearing from you!