How to estimate the market value of your home

How to estimate the market value of your home

Market value is the price at which a house would sell under normal conditions. While estimating the price of a home, most of the sellers forget that the value of the property is not merely based on what they initially paid for the house or the amount they have spent on its remodelling. The market value of a property is what a ready and willing buyer would pay. As you know, finding a suitable buyer for your property is not easy when you fix an appropriate price in the market. You can approach in many ways to find the market value of a property. Let’s discuss a few methods to determine the market value of your property.

1. Guidelines of the Government:

The Government has fixed a certain value for a property based on the particular locality. And you can find all the information and guidelines on the State Government website. If you want to register a property, you can find the value of the property according to street names and survey number. So, you can able to calculate the value of your property easily with these specified amenities.

2. Make a comparison:

You’re supposed to make a comparison with other properties because your property may have some similarities in terms of location, size, and other specifications. And you can able to find the value of a property by recognizing the other one and it will be closely related. It will slightly get varied based on the such as the number of rooms, square feet, and other facilities etc.

3. Value of amenities:

Actually, the value of your home is estimated based on the amenities too. The price asked by the buyers will be favourable to them if your property has amenities matches the buyer’s expectations. If you own attractive amenities in your property like the fitness centre, swimming pool, tennis court and much more then, it will give you good returns. So, your property’s market value will be based on the amenities which you provide.

4. Real estate portal:

There are many real estate portals where you can get assistance for real estate transactions and this portal will provide all this information and it will be precise since it is identified through multiple sources. They also follow few standards for evaluating the property value and it is verified by the concerned authorities.

5. Advertisements:

This is another important method and this will give a detailed and clear picture about the rate at which properties are available in the market. Even you can track the prices of properties that are being advertised and you will get notified when they are being sold.

6. Long-term resident:

Actually, the value of your property is based on the location of your property. Even your neighbours can able to identify the value of your property. It is better to have a discussion with the neighbours to gain from their experience. And these are the methods which help you to calculate the market value of your property and you can able to identify the value after identifying all these factors in your property.

Always make sure you deal only with the registered agents and you need to ask for second opinions to get the accurate value as much as possible. Just buy your dream home from Nimmadhi and enjoy living!