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VALUE MY HOME-Factors determining the Home Value

  • Post category:Valuation

Home is a complete investment for any individual. When built & maintained,each penny we spend for it must be appropriately valued & weighed. Valuing yourinvestments will help in your decision-making process at any time.


      •  In determining the value of the property numerous factors like location,current market value,e.t.c have to be considered.
      • Usually, you will spend some valuable time in your home and it is good to value it.
      •  Even Though there are a lot of online value estimator applications available,it is always efficient when we approach a real estate agent/county/municipal auditor/a licensed appraiser.

How is a House valued?
To sell your home first you must know the price of your property. To determine this value you must include the accurate variables.

      •  Appraised Value: Licensed appraisers determine the value by considering factors like the size of your home and upgrades and decide on a price. This is applicable when the individual needs or
        refinance a mortgage.
      • Assessed Value: When a local county tax assessor determines the value then the nearby home values, the overall location, community,home size, etc are considered. This is applicable when homeowners have to pay local, county, and state taxes.
      • Fair Market Value: Determines the value compared to nearby home values similar to yours associating with factors like square footage,no: of bedrooms, and general location.

Factors determining the Home Value
There are a lot of factors affecting your Home value including neighbourhood safety, schools, surrounding homes, and other factors of the environment which may not be sometimes noticeable.

      • Location & convenience: Some people may prefer silent surroundingsrather than a busy & noisy environment.Some may prefer convenience to school,public transits,shopping options,entertainment
        options,access to workplace,e.t.c.
      • History of Home sales: Sales history & surrounding scenarios is a considerable factor. Most similar cases like similar no: of bathrooms & bedrooms are taken to get an appropriate estimation.
      • Facilities of the home: Home facilities like size, usable space, age of construction, electrical and plumbing systems e.t.c are considered.
      • Upgradations to the construction: Upgrades like solar panels, on-site electric car plug-in, fully automated lawn sprinkler systems, efficient heating and air conditioning, the latest home security system,e.t.c will
        be considered.
      • Current Market: Current market trends & scenarios are considerablefactors which include labor rates, interest rates, and outnumbering buyers.

When to sell your home?
Home is not just an option for your well-being & good health it can build equity over time. With many inherent risks in framing one, homes are a well beneficial investment. Even Though the housing market and real estate rates are the involved variables the main concern is how long you stay there. And also more than the staying period the spent money (building costs, agent fees, interest fees,e.t.c) must be taken into consideration.

Mena is a leading company that provides various professional services in business & investment management. With an experienced & capable team to advise & create solutions for all management departments, we produce optimum results. We consider the economic and social trends, governmental controls or regulations and environmental conditions to know their demand, utility & scarcity before buying or selling a property. We examine the property’s potential & enhance the Client’s success.

Satisfied clients are our Achievement,
Their feedback is our Encouragement.

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