Selling or refinancing your home can often be a daunting process. Before you embark down that road, an important piece of information you need to know is how much your home is worth. While hiring an appraiser is the most common way to find out your home's value, a better way to complete this task is to find home values by address.
The Cost of an Appraiser
Like anyone in the real estate business, appraisers are in it to make money. When they come to your house to give you an appraisal, they normally charge between two and five hundred dollars. This seems like an outrageous price considering the fact that you may already have a good idea as to what your home is worth.
Real Estate and banks often offer this service for free however, once you take advantage of the free appraisal they will likely require you to do business with them.
Checking the value of your home by address online is a great way to save time and money. You won't have to wait for the appraiser to come by the house and you won't have to pay hundreds of dollars for a couple hours worth of work.
Home values by address are normally determined by a number of factors that the website takes into consideration. The zip code and city you live in both play a big role in the value of your house and the website can compare the data you enter with what they have stored in their databases.
Information such as construction history, insurance filings, year the house was built, current housing market values in your neighborhood and more are all compared with the information you entered into the form.
These large databases use a sophisticated algorithm to determine the value of your home. Because human appraisers can often make mistakes with calculations, online appraisal forms offer a more accurate way of figuring out your home's appraised value.
Accuracy is extremely important when calculating your home's appraised value. Miscalculations means you could lose out on thousands of dollars in refinancing or a significantly reduced selling price.
The accuracy of a home appraisal is also important for insurance purposes. If your home is appraised too high you may end up paying hundreds of dollars per year more for your premium.
The money saving benefits alone are reason enough to find home values by address online.