How Much Is My Home Worth? Here Are Ways To Determine

Many people find it difficult to determine the selling price of their house and they’re always wondering,”how much is my home worth”? The price is reasonable as it is a consideration for the potential buyer.

Tips for Determining the Selling Price of Your House

If you’re still asking how much is my home worth? Well, to anticipate your losses, consider a few things before selling your house. To help you determine your house price, we’ve put a few simple methods for determining the selling price of your house below.

1. Calculate the sale price subject to housing tax

How Much Is My Home Worth

Citing various sources, a way to calculate the selling price of a house based on its taxable value.

2. Think about your home location

From this example, you can sell your house for US$ 270000. However, most people charge tax rates higher. Especially if your house is in a strategic location: no flood, safe environment, office, education center, near the crowd, or beside the main road. They offer a house at a price 5–10% higher than the tax.

3. Adaptation to housing conditions

The next way to determine the selling price of a house is to adjust the occupancy terms. How to calculate the selling price of a house as a percentage of the survival rate multiplied by the tax.

Potential buyers will not hesitate to spend more money to purchase a house if it is in good condition,  no damage, and clean. Even if it is sold for more than that, people are very interested. The reason is simple. Because if the house is in good condition, potential buyers can save money on renovations.

4. Add renewal cost

Add renewal cost for your house

If you renovated your house before you sell it, the costs can be added to the sale price. For example, minor renovations such as repairing roof tiles, replacing broken tiles, adding fences, and adding garages cost around US$ 12000. The sale price and renovation cost of the house on the tax basis is US$ 282000.

5. Find home prices in your area

Another method you can try is to check house prices in the area around you. However, if this is difficult, you can check the last six months of house sales prices. Find houses that are close to your own specifications in the same area.

You can use real estate agent services. Real estate agents know more when it comes to determining the sale value of your house. However, you should rely on a trustworthy and reputable broker.

Good brokers will not only help you set the price of your house, but they also help you promote your house. Please take a note. Brokers typically charge a sales commission of approximately 2.5% of the selling price.

House sale prices should not be set arbitrarily. This item is nothing like the hotcakes you can guess at. A home is an investment that will give you a profit when you resell it. So be careful with your calculations.

Selling a home is not just about money. Memories and memories remain at home. and it’s worth more than anything else. Do you still ask how much is my home worth? Please kindly follow the steps I have mentioned.

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