If you are considering selling your home or using it for collateral on a loan, you first need to determine how much your home is worth. These four methods can help you determine the financial value of your home.
1. Use Online Tools
There are many resources available to you online that can help you determine the value of your home. You can research the value of similar homes on house hunting sites such as Calgary House Finder. You can also use one of the many online estimation tools. Another good resource is searching public records, such as property transfers, deeds and tax assessments. Because these sources serve different purposes, the values you get are likely to differ but should give you an idea of the price range you can expect.
2. Hire an Appraiser
Many lenders will require an appraisal as part of their application process; however, it can be useful to have your own appraisal done by an independent appraiser. An appraiser can tailor their appraisal to your needs, whether that is determining current market value for a potential sale or refinancing your home. Continue reading