Your home has both a personal value and a market value.
When you think of your home as a place where a family is raised and memories are built, then it’s like those popular MasterCard commercials on television: Your home’s value is “priceless”.
But when it comes to how much your home is worth to potential buyers, then things get much less sentimental. It’s the “market value” of your property that determines how much it will sell for, not your personal feelings.
Market value is simply the price that similar properties in similar neighborhoods are currently selling for. If you were to list your home on the market today, you could expect to get somewhere close to that figure.
Even if you’re not planning to sell your home in the near future, it makes sense to get an update on its fair market value. Your home is an investment – and you should know how much that investment is worth.
There may also be circumstances where you might have to move quickly. Knowing the market value of your home will help you make quick – and better – decisions.
How do you determine the market value of your property? Call Boris Realtors today.