How Do I Know How Much My Home Is Worth?

If you are a home seller in NYC, it’s critical to understand the three most important factors when it comes to selling a home.  Condition and price are vital for selling your home effectively to the ideal buyer.  Your first step is to properly price the home and investigate whether there any cosmetic defects that can be repaired to make the house more likely to sell.  When price and condition are at optimal levels for selling a home in NYC, the third critical factor is the amount of exposure that your home receives in the real estate market.

In order to truly understand how much your home is worth, you may need to discuss the value with an appraiser as well as a real estate broker who has worked with other home sellers in NYC.  During the appraisal process, an experienced professional will review recent sales for similar properties, the location of the home, square footage, excess land, construction quality, water frontage, amenities, or views.  These factors, combined with the condition of the home, can increase the chances that you will be able to list and sell your home quickly and successfully.

If an appraiser or real estate broker suggests that you can make small changes to improve the value of the home, weigh the cost of making these changes against the possible increase in value for the home sale.  If cosmetic changes are relatively inexpensive but dramatically increase the chances that you will sell the home, plot out a timeline to complete these changes in order to make the house more appealing to buyers.  Working with an experienced realtor and having an appraisal done early can go a long way towards informing you about the value of your home today.