House Investment: Finding Out How Much Your House is Worth


When we decide to move out to a new place, we usually have to ask ourselves “What are we going to do with the house?”. Most people would usually put up a listing for rental so they’ll be able to still earn money and others would prefer to sell it and would usually search up ways to help them such as “how to Sell my house fast San Bernardino”. Before you decide on anything and put your house up for sale, you must first be aware of how much exactly the value of your house is so as to prevent you from getting scammed during dealings and negotiations. We compiled several tips and information that can help you to prevent this exact thing from happening.

A House’s Worth and Value

The first thing to understand when getting your home’s value apprised to knowing the 3 types of valuations that are taken into consideration. These 3 combined can help to increase or decrease your home’s value based if they meet a certain criterion. They are the following:

  • Fair Market Value

This value is comprised with how much your house is valued by potential clients compared to other houses in the area. This is usually done by looking at statistical data and comps that help gauge what most people would potentially pay for in a house when compared to what yours can offer.

  • Appraised Value

An appraised value is usually given by professionals of the field. It can consist of several things you can control and improve like your home’s conditions and maintenance and other things you can’t do anything about like the location or the size of plot dedicated to you. The appraised value is what is usually used when referring to mortgages as it is a signed estimate of your properties value in monetary form.

  • Assessed Value

Assessed values are usually the value assigned to your home by local government bodies such as tax assessors. This value is usually used as a part of property tax. The value here is usually the lowest among the three and doesn’t determine the property’s selling value. It can easily go higher than the assessed value.

If you still happen to be interested in finding out your property’s values, you can try out these methods to get started.

  • Using Home Value Estimators

There is a myriad of online tools that can give a quick estimate to your home’s values. The algorithm used by these tools utilize public information such as tax, sales prices. Certain and official sites such as the FHFA HPI Calculator can provide a rough estimate of your property’s value. It should be noted that this is just rough data and doesn’t take into any unique nuances that your house has.

  • Hiring Professional appraiser or Comparative Market Analysis

This is the more obvious option but hiring a professional appraiser or realtor agent can greatly speed up the process with maximum efficiency. A professional appraiser can give you a detailed breakdown and give you an outline on the property which you can use to advertise to potential clients. Meanwhile, a realtor agent would usually take care of any processes involved with selling your property making it easier for you. Whichever you decide to choose, always be sure that they come from a trusted service/agency.