3 Ways to Determine Home Value and Why It Matters

October 08, 2019

The decision to sell your home is a big deal. Unless you have done this before, it can seem like a lengthy and laborious process – which it is! The worst-case scenario that you want to avoid is to sell your home for a price that is way below its worth. This is a common mistake that a lot of new home sellers make. They would lower their sales price to get more buyers interested.

But whether you want to sell or buy a home in Colorado Springs, working with the right real estate team can help achieve your goal. If you do not want to lose money, you need to start by educating yourself about how to calculate your home value.

Steps on How to Determine Your Home’s Worth

How to Determine Your Home’s Value in 3 Easy Steps (Image Source: Pixabay)

The first and most important step to selling a home is to know its market value. Below are important steps to learn about your home’s value:

Step 1 – Understand the meaning of ‘market value’

A home is more than just worth the mortgage payments you make. Several other factors can cause your home’s value to go up or down. These factors include the current prices of similar homes in your area, the overall real estate trends in Colorado Springs, and the sentimental value of the property.

Make sure you take these factors into account when determining how much your home is worth. The value of a home is also dependent on how much a buyer is willing to pay for it. This applies for when you buy a home in Colorado Springs, not just for sellers.

Step 2 – Home estimation tools

There are several tools and websites that home sellers can use these days to assess the market value of your home. If you have no idea what price to put on your home, you can turn to these tools for help. Choose tools that are provided by authority websites to ensure the accuracy and validity of the data.

Most of these tools analyze similar homes (in terms of size and geographic area) and compares it with the home listings in the market. This is also a great tool to use because it enables you to determine how your home stacks up with other listings in the market.

Step 3 – Work with an expert

A real estate agent or team can also provide you with an accurate assessment and valuation of a property. With their knowledge of the Colorado Springs real estate market and their expertise, they can provide you with a competitive valuation of your home.

PCS Partners – Your Trusted Real Estate Team!

How to Determine Your Home’s Value in 3 Easy Steps (Image Source: Pixabay)

Whether you want to sell or buy a home in Colorado Springs, PCS Partners is a team that you can trust for all things real estate. We are comprised of the most experienced real estate agents both in buying or selling homes in Colorado Springs.

If you work with us, you can also expect experienced real estate agents that specialize in the PCS military and Colorado Springs real estate market. To get started, you can learn more about our process and how we work here.

If you would like more helpful resources and information about home buying or selling, you can check out our blog for more tips. With this information, you are now ready to proceed to sell your home. If you have more questions, call us at (719) 238-2361 or visit us at 6050 Stetson Hills Boulevard, Colorado Springs.