The Value of Your Home
The real estate market is making a comeback and property prices are on the rise, if you wondered “what’s my home worth right now?” you are not alone. There are some people who try to guess what their property is worth but the problem with guessing is it’s hit or miss so to speak. We are going to provide you with some tips on how to figure out your current home value but these are suggestions if you want hard numbers to make an informed decision then your best option is to speak with a Birmingham real estate agent. These Birmingham Realtor’s have gone through extensive training and have a formula that is very precise in calculating property value.
So let’s look at how you can figure out what your home is worth right now, you will need to get some measurements before proceeding. Calculate the square footage of your home, you can do that by taking the length and width of the home and multiplying those two numbers. Now that you know the square footage of your home it is time to begin the process. Look at the prices similar homes sold for in the neighborhood over the last ninety (90) days. The houses should be similar so if you are living in a single detached home don’t compare it to a condominium. Once you have the prices that all of the homes sold for recently you need to look at the square footage of those homes and divide it by the selling price, by doing this calculation you will get the average price per square foot for your area.
In order to calculate what your home is worth right now take the average price per square foot in your area and multiply it by the total square footage of your home, this number will give you a ballpark range of what your home is worth right now. There are variables that could increase that amount, if you live near a school, police station or fire station these items can boost the value of your property. This is just one way to calculate home value but if you want to know whether now is a good time to sell find a Birmingham real estate agent with a superior reputation, they will give you the straight facts and figures.
If you would like information on your local real estate market, or are first time home buyer not working with a Realtor and would like to schedule a consultation with a qualified Oakland County and Macomb County Realtor, please complete the Lang Premier Properties contact form to have a real estate agent contact you.
Lang Premier Properties are Birmingham Realtors specializing in Oakland County Real Estate. Stephanie is an agent with Max Broock in Birmingham, Michigan. See what past clients have to say about Stephanie Lang. Lang Premier Properties looks out for your best interests when you purchase a new custom luxury home. We always recommend working with an experienced luxury real estate agent when buying a new luxury estate.