There are several ways to calculate a home’s value. The most common method involves analyzing comparable sales. This approach identifies recently sold homes that are similar in size, age, and condition to your property. These "comps" (Comparative Sales) serve as a baseline for calculating your home's worth, factoring in any differences that would add or subtract value, such as an extra bedroom or an aging roof.

To get an estimated value of your home, you can use our free online valuation tool. This tool uses publicly available records and real estate MLS transaction data to generate an estimate. However, if you want a more accurate number, you should start the free online valuation and work one of our real estate agents. You could also hire an appraiser for a hefty fee.

Real estate agents have access to the local Multiple Listing Service (MLS) and can conduct a walkthrough of your property to gather more information. They can provide you with a comparative market analysis (CMA), which is a comprehensive report that takes into account your property’s condition, market trends in your area, and other factors.

Appraisers, on the other hand, work from the Uniform Residential Appraisal Report and will physically scrutinize the interior and exterior of your home during an onsite visit to ensure that the public records are accurate.

Ultimately, if you're looking for an accurate and reliable valuation of your home, it's best to work with a real estate professional who can provide you with a more comprehensive analysis based on their experience and expertise in the local market.

What adds value to your home depends on a variety of factors. Some of these variables are external, like a thriving economy, low inventory, and local amenities such as parks and restaurants. These factors can increase demand for homes in your area and result in a higher selling price.

There are also factors that are within your control that can add value to your home. Improving your curb appeal with basic lawn care and cleanup is a great place to start. Investing in larger upgrades, such as a kitchen remodel or adding square footage, can also increase your home's value, but be sure to research the return on investment for these types of upgrades.

Proper maintenance of your home over time is another way to maximize its value. Keeping up with routine maintenance and repairs can prevent small issues from turning into larger and more expensive problems down the road.

Finally, timing is important when it comes to selling your home. Listing your home during the best time to sell for your city and making the effort to clean, declutter, and stage the home can make a big difference in its marketability and ultimately its selling price. Working with a real estate professional who knows your local market can help you determine the best strategies for maximizing your home's value.

Automated valuation models (AVMs) are designed to provide a quick estimate of a home's value by analyzing various data points and using complex algorithms. To get a free valuation of your home, you can simply input your address into an AVM tool like National Properties Realty WHATS MY HOME WORTH tool. This software will analyze thousands of real estate transactions, collect details about your property with a short questionnaire, and pull in the most important elements of a comparative market analysis to calculate your home's worth.

However, it's important to remember that AVMs are not foolproof and should be used as a starting point rather than the final word. These tools use public records and historical data to provide an estimate, but they don't account for variables like the current condition of your home or the unique features that may impact its value. If you want a more accurate valuation, it's recommended that you work with a real estate professional who can provide you with a comprehensive comparative market analysis (CMA) based on factors such as recent sales, market trends, and the condition of your home.

The definition of home value can vary depending on who you ask, but generally it refers to the monetary worth of a property. This worth is based on the current real estate market and the factors that contribute to a property's desirability, such as location, size, age, and condition.

Fair market value is a specific type of home value that is used in legal and financial contexts. It refers to the price that a property would fetch on the open market, assuming that the seller and buyer are both acting in their own best interests and there are no outside factors influencing the transaction. This is often the value used by appraisers and lenders to determine the value of a property for tax and loan purposes.

It’s a good idea to check up on your home’s value periodically and start owning your home’s history and value online. When the time comes to sell, buyers are going to look up your address and if the internet says your home is worth less than you’re asking for, it could weaken your negotiating position. Therefore, looking up your home’s value before you sell gives you an idea of how much you can list it for and how your home compares to other listings in the area at that time.

In addition, you should also check your home’s value when you’re thinking of making major changes to your property, like renovations. This can give you an idea of the potential return on investment for your upgrades and help you decide which improvements to prioritize. It's also important to check your home's value when updating your property insurance. If your home is underinsured, you risk not having enough coverage to rebuild your home in case of a disaster. On the other hand, if your home is over insured, you may be paying more than you need to for insurance premiums.