How to Determine the value of  Home   

Its not so easy to estimate your house value .Every one has its own opinion.But there are some of the factors which can really helpful which effects the costing of your house.

* Structural Elements.
Construction of walls, ceilings, floors, roof and foundation.

* Exterior Evaluation.
Wall covering, landscaping, grading, elevation, drainage, driveways, fences, sidewalks, fascia, trim, doors, windows, lights and exterior receptacles.

* Roof and Attic.
Framing, ventilation, type of roof construction, flashing and gutters. It does not include a guarantee of roof condition nor a roof certification.

* Plumbing.
Identification of pipe materials used for potable, drain, waste and vent pipes. including condition. Toilets, showers, sinks, faucets and traps. It does not include a sewer inspection.

* Systems and Components.
Water heaters, furnaces, air conditioning, duct work, chimney, fireplace and sprinklers.

* Electrical.
Main panel, circuit breakers, types of wiring, grounding, exhaust fans, receptacles, ceiling fans and light fixtures.

* Appliances.
Dishwasher, range and oven, built-in microwaves, garbage disposal and, yes, even smoke detectors.

* Garage.
Slab, walls, ceiling, vents, entry, firewall, garage door, openers, lights, receptacles, exterior, windows and roof.

Home Inspection Checklist Items Needing Service

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There are many tools available to help you determine your home value. The most obvious is your real estate agent. Your agent should have a good understanding of the current market in your area, allowing them to review comparable homes and estimate how your home sizes up.

I agree, there are lot of factors that must be consider if you want to estimate the value of a specific house.. all your factors are correct.. great post..

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Compare the sales price of similar homes in the area. Use homes that have sold in the recent past. Arrive at an average value by looking at homes that have sold for slightly less and slightly more.

Well the most important thing to consider in knowing the value of your home is the
*Structural Elements.
* Exterior Evaluation.
* Roof and Attic.

most often this three parts give higher value to the price

These are great tips vidya. Thanks for posting this. I agree that it is not easy to estimate a house value by simply looking at it. There are several reasons why you might need to know the market value of your home, and to a certain extent your reason will determine how you go about getting the information. Whatever your reason, the underlying process is still the same: you’re comparing your home’s features to similar homes in the area that have sold in the recent past. In a way, you’re taking a snapshot of what your home is likely to be worth to a potential buyer if you were to put a For Sale sign in your yard today.

The homes that are chosen to measure your house against are referred to as comparables, or comps, by mortgage lenders and real estate agents. Finding those homes, and the price they were sold for, can be difficult without enlisting the help of a local real estate agent. An agent has access to your state’s Multiple Listing Service, which is a large database of all homes that have been listed for sale in the state you live in, and includes information on those home’s features and final sale price. If the reason you need your home’s market value is because you’re thinking of selling it in the near future, ask a real estate agent to come to your home to give you a market value assessment. In fact, ask two or three agents from different real estate companies to do the same thing. It’s a service they provide for free in hopes that you’ll choose them when you’re ready to list your home for sale. You’ll learn a lot about the real estate market in your area, which will come in handy when you put your home on the market, and it’s also an opportunity for you to begin interviewing real estate agents.

Availability of comparables and the volatility of the market will determine how large the area is that an agent will look in, how closely they need to match feature-to-feature, and how far back in time they look at home sales. Unless you live in a one of a kind custom-built home, if you live in a densely populated urban area there will have been many homes sold within the past three to six months that are in your same neighborhood or zip code area that have features similar to your home, such as square footage, number of bedrooms, age of construction and general condition. If you live in a rural area where there aren’t many homes sold each month, an agent will look at the homes sold in a much larger area, going back as far as a year, and that aren’t quite as similar to the home you own.






Linda Costner
Luxury home plans

The value of the house is determined with the kind of materials used to build it. The environment and quality of the property is observable depending on how they maintain it. It is good to choose a house that is not prone to insects or termites attack. This is a terrible thing if not considered. thanks for sharing your post.

In fact, ask two or three agents from different real estate companies to do the same thing. It’s a service they provide for free in hopes that you’ll choose them when you’re ready to list your home for sale. You’ll learn a lot about the real estate market in your area, which will come in handy when you put your home on the market, and it’s also an opportunity for you to begin interviewing real estate agents.

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