What is Your Property Really Worth?

Are you considering selling your property but need help determining where to begin or how much your property is worth? 

With the interest rates continuing to rise and the peak of property prices since COVID-19, it is hard to know where your property is currently positioned in this changing market if you want to sell. 

In this blog, we will go through the first step, which can educate and help you decide to sell or keep. This is where you obtain a property appraisal. 

What is an appraisal? 

An appraisal is an estimate of the value of your property conducted by a licensed real estate agent. They will consider several factors, including the property’s size, age, location, condition, features, and recent sales of similar properties in the area. 

How does it work? 

Your first step is contacting a trusted agent within your local area to arrange a time when you are home to be able to look through your property to provide an accurate report of their findings. 

Depending on your agent, this can take about an hour to complete depending on your property. 

Please note: if you are away or uncomfortable with someone coming to your house, all agents can do this online, but it will not be the most accurate report. 

The agent will examine your home’s interior and exterior, taking notes of the condition, layout, and features. After your appointment, your agent will evaluate the surrounding neighbourhood, considering factors such as recent sales, school districts, crime rates, and access to amenities. 

Once all the information is analysed, the agent will generate a report detailing their findings and outlining the property’s estimated market value. 

Why is it important? 

There are a number of reasons why a home appraisal is important. For sellers, it can help them set a realistic asking price for their home and provide them with information on the current market. 

Understanding the home appraisal process can help sellers feel more confident and informed during the selling process. It’s important to note that the appraised value of a property may not necessarily be the same as the sale price. The sale price can be affected by a number of factors, including changes in market conditions, negotiations between buyers and sellers, and the condition of the property. 

Overall, a home appraisal is an important first step in the process of selling a property. It helps educate the agent and the seller about where the property sits in the market and how much their property is worth based on a multitude of factors. 

To start the process, fill in your details here and one of our Homes4U agents will get in contact with you.