How do I know how much my house is worth?

Determining the value of a home is essential whether you are thinking of selling or buying. Knowing how much your home is worth will allow you to make informed decisions and ensure that the price is fair and in line with the current market.

There are a number of factors that influence the price of a property, such as location, condition of the property and market conditions, as well as different methods to obtain an accurate valuation, from online tools to professional appraisals.

That's why, throughout this article, we're going to give you some guidelines on how to know the price of a home. Let's take a look!

How to know the price of a home?

When the time comes to sell or buy a home, one of the first questions that arises is: how do I know how much my house is worth? Determining the exact value of a property can seem complicated, but understanding some aspects is essential to avoid undervaluing or overvaluing the property. We tell you what they are.

Factors that influence the value of a house

The value of a home is determined by several factors that, when combined, determine its final price. Some of the most important factors are:

• Surface area: how many square meters the property has and how they are distributed.
• Condition: a renovated or well-maintained house can fetch a considerably higher price.
• Years of age: Newer properties are usually worth more than older ones, as long as they are not historic.
• Services and amenities: swimming pool, garage, elevator or common areas directly influence the price.
• Market demand: If there is high demand in the area where the property is located, the price will be affected upwards.

What role do the location and condition of the property play?

Location is probably the most important factor when valuing a home. A property located in a central area or in an area with high demand will have a much higher price than one in a less attractive area. In addition, proximity to services such as schools, supermarkets, and public transportation also directly increases the value.

On the other hand, the condition of the property is essential. If the house has been recently renovated, with improvements to the electrical installations, plumbing or even the interior design, this will also increase its value. However, if the property requires a lot of repairs, its price will decrease.

Methods to correctly value a house

There are different ways to determine how to value a home and what it is worth. From free options to more detailed professional services. Each method has its advantages and the most appropriate one should be chosen according to the owner's needs.

Differences between an online appraisal and a professional appraisal

An online appraisal is a quick and easy way to get a general idea of the value of a property. It uses data available on real estate portals and calculates the price based on similar properties in the same area. Although it can be useful for an initial estimate, it is not usually 100% accurate, as it does not take into account specific characteristics of the property, such as its exact condition or recent renovations.

A professional appraisal, on the other hand, is carried out by a licensed appraiser who will visit the property, assess all relevant aspects (location, condition, age, etc.) and issue an official report. This method is more accurate and generally necessary when it comes to sales, mortgages or inheritances.

When is it advisable to request an official appraisal?

An official appraisal is mandatory when a certified report from a regulatory body is required, such as when applying for a mortgage.

It is also advisable in situations where the value of the property is key, such as the distribution of assets in inheritances or separations, or when seeking to sell the house at a price in line with the current market without room for error.

How to value a house step by step

To better understand how the value of a home is determined, it is important to know the steps that professionals follow in an appraisal.

Documents required for the appraisal

To carry out a formal appraisal, the appraiser will need certain documents to help him correctly assess the value of the property:

• Property deed: document that proves who is the owner of the property.
• Energy efficiency certificate: legally required in many countries to sell or rent a property.
• Property plans: allow you to verify the layout and surface area of the home.
• IBI (Property Tax) receipt: this tax provides relevant information on the cadastral value.

What aspects are reviewed during the appraisal of a property?

During the visit, the appraiser will review various aspects, including the following:

• Distribution: how the spaces are organized and whether they are functional.
• Construction qualities: type of materials used, finishes, and general state of conservation.
• Orientation: the incidence of natural light may be a relevant factor.
• Features of the environment: green areas, accessibility and nearby services.

How do I know how much my house is worth according to the current market?

To know how a house is valued in the current context, it is essential to analyze the real estate market in the area and use specific tools that provide reliable estimates.

Online tools to estimate the value of your home

In the digital age, there are numerous online tools that allow you to quickly estimate the value of your property. These platforms analyze data such as recent sales prices in the area and other key factors to provide a rough estimate.

Compare with sale prices of similar properties

Another effective method of how to price a home is to compare your home to properties similar in size, features and location that are for sale on the market. This comparative analysis will give you a clear idea of how much similar homes are being asked for in your area, allowing you to adjust your price.

Do you want to sell your property in Dénia? We offer a free appraisal if you trust us!

If you own a property in Dénia and are interested in selling it, at Emiris Homes we offer you a free appraisal whenever you entrust us with the sale of your home. We will visit your property to carry out a detailed inspection and be able to offer you a valuation adjusted to current market conditions.

This service will allow you to know the real value of your property, based on factors such as location, surface area and state of repair. Requesting an appraisal is the first step to ensure you get the best price for your home. If you are interested in knowing how much your house is worth, contact us.

You can find our real estate agency in Dénia at Calle Carlos Sentí 37. You can also call us at 96 647 73 58 and we will schedule a visit to your property.

We will be happy to help you manage the sale of your property!