Whether you're selling a home or purchasing a new home, it helps to understand how to calculate the value. Using the address to find out the current market value is fairly simple. A homeowner can conduct the research herself or solicit the assistance of a professional, such as a real estate agent or appraiser. Understanding how to search for a property value based on address will assist in determining the home's current worth.
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Search for comparable homes. Another way to estimate the home's value is looking at comparable home sales. Write down the home's details, like amount of square footage and number of beds and baths. Based on this information, enter the home's address into the valuation tool. Recently sold homes around the area will appear. Find a home with details that closely matches your home to provide an estimated value.
Solicit a real estate agent's assistance. Provide the address and ask the agent to conduct a market analysis. The analysis will evaluate details of the home and compare the home against recent property sales. Based on this information, the real estate agent will provide a value range for the property.
Double check the value. Use a couple of tools to double check the property's value. For example, use valuation tools and view comparable home sales. Then, call a real estate agent to conduct a market analysis. You will be confident the value estimate is correct if both methods return similar results.
Tips and warnings
- Ordering an appraisal is a good option if you plan on selling a home soon. Most lenders require an appraisal before lending funds for the property. The cost of an appraisal is about £260, depending on your geographic area.
- When comparing recent home sales, don't forget to account for location. For example, a home on a busy street won't secure the same price as a home on a quiet cul-de-sac.
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