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How to Find Out the Value of Your Home

Updated on December 17, 2009

Purchasing a home is one of the most important financial investments you can make. Owning your own house can give you a sense of security as well as a place to call home. Knowing the value of your home can help you in many ways, including determining when you can afford to retire, how to negotiate property tax assessments or what improvements you should make to your home. You can discover what your home is in several easy ways.

Determine the value of houses in your neighborhood.

Pay attention to what houses are selling for in your neighborhood. Realtors can give you this information, or you can examine the materials offered in the house itself. Many realtors’ websites also offer this information, and you can often find housing rates sorted by zip code and neighborhood. The value of your house is likely comparable to the value of the houses around you, so knowing what houses around yours are worth will help you determine the value of your own.

Attend open houses.

This will also help you determine the value of your house by offering information about houses comparable to yours. Real estate agents invite people to open houses in specific neighborhoods, so check your local papers, flyers, and other advertisements for open houses in your neighborhood. Check the values of these houses and consider their similarities to your own house.

Contact your local city hall.

City halls keep information on how much houses sell for in specific neighborhoods or areas of the city. Contact your local city hall and inquire about houses in your area of comparable size and upkeep. You may have to pay a fee to get this data, but it is worth the price to receive in-depth information that will include square footage, property taxes, specific amenities, and age and condition of houses near yours.

Check the value of homes near yours online.

Many online websites will give you real estate values in your neighborhoods. Some sites will allow you to input specific information about your house to generate a calculation of an approximate value. In addition, some sites such as Zillow.com provide information on housing trends and projections for future home values as well as advice for purchasing a home and managing a mortgage.

Using a combination of the above strategies will help you determine the current rates of houses similar to yours, and therefore will let you approximate the value of your home.

Image Credit: pnwra, FlickrIma

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  • profile image

    tparkin68 6 years ago

    Go to Sundaybell and interview a professional Realtor and get the true value of your home. Zillows "Zestimate" tool is ballpark at best and could be out thousands of $$$

    Tim

  • Victoria Lynn profile image

    Victoria Lynn 6 years ago from Arkansas, USA

    Hey, Lela, I've been checking out your hubs. All you say on here is so true! I do check out online the selling price of homes in my neighborhood when I see those for sale signs. I've even gone to open houses to check out what condition the homes are in. Interesting hub and voted up!

  • profile image

    Seb@portable mini fridge 7 years ago

    Thanks for some good information. In this market home owners are having a horrible time trying to get anything near what their houses were worth 2 years ago. Your information applies no matter what the market though.

  • profile image

    Justin Lewis 7 years ago

    This is awesome :) Thanks a lot for all the great information!

  • chbartel profile image

    chbartel 7 years ago from Indianapolis, IN

    very good information here. Couldn't have said it better. Worthy advice and I am recommending this hub to others!

  • Jersey Jess profile image

    Jersey Jess 7 years ago from USA

    Amazing, such good information! Thanks for posting!

  • profile image

    writingsfromthemind 7 years ago

    Very informative and good hub.

  • rdelp profile image

    rdelp 7 years ago

    I've always used zillow.com and that is a great way to get an idea of the value of your home.

  • Greg Cremia profile image

    Greg Cremia 7 years ago from Outer Banks

    Realtors will usually do it for free.

  • KeithTax profile image

    Keith Schroeder 7 years ago from Wisconsin

    Good information. Sometimes I want to know what my place is worth without paying for an appraisal. Thank you for the hub.

  • fdoleac profile image

    fdoleac 7 years ago from Hollis, New Hampshire

    Good, direct information. Be careful of Zillow zestimates - they state their values have a 14% variance to value.

  • OregonWino profile image

    OregonWino 7 years ago

    Nice hub! I like that it was easy to read and right down to the point. Very good information especially in this market where what has recently sold around you is not always a good indicator of what your home might really be worth.

  • profile image

    Nicks 7 years ago

    I agree with tobey100 - the only sure way to know the value of your house is to place it up for sale. Valuations as a whole are rarely accurate and the past couple of years have re-inforced the fact that houses prices are subject to the marketplace - and that is something that can change radically.

  • profile image

    chleuh.0fees.net 7 years ago

    super and great thanks

    chleuh.0fees.net

  • profile image

    BookFlame 7 years ago

    super information.

  • jessicab profile image

    jessicab 7 years ago from Alabama

    Fantastic hubs, there are people losing homes some even trying to buy, we all need to know the value of our home, this is avery important topic.

  • tobey100 profile image

    tobey100 7 years ago from Whites Creek, Tennessee

    Very interesting. Lately I've found the best way to find what your house is worth is try to sell it. Be ready for the shock.

  • Curious Jen profile image

    Curious Jen 7 years ago from Canada/Nicaragua

    Great information. It's always hard to get accurate information on comparable houses. In Canada, it is pretty easy to get the municipal assessed value of homes.

  • RealEstateHelper profile image

    RealEstateHelper 7 years ago

    That's an interesting piece of information. Thanks.