How Much Is Your San Diego Home Worth?

By: Real Estate Advisor

Knowing the value of a home or condo is very useful when you are buying, selling or refinancing property. If you are a property owner in San Diego and want to find out the value of your home or condo, then ask a San Diego realtor to help you assess your property's market value. Most Realtors provide this as a free service to prospective home sellers.

A professional approach and thorough market knowledge is vital for assessing the market value of a property. This is why it is always better to opt for a realtor than use online property valuation tools. A realtor offers the unique advantage of giving you an accurate estimate of your home's value based on his/her intricate knowledge of local market conditions and comparable homes in the community.

Several factors are taken into account by your San Diego realtor when he/she assesses your San Diego home. They are:

Type of housing - Different types of homes have different pricing. Your realtor will evaluate your home's market value based on what its previous use has been - as a primary home, secondary home, vacation home or rental.

Type of property - Your home's value will differ depending on its type, whether it is a single-family home, multiple-family home, condominium, town house, etc.

Size of property - The value of your home is proportional to its size. In general, the bigger the size of the property, the more value it has.

Living space - Your realtor will measure the square footage of your home to ascertain how much living space your home contains. In general, homes with more square footage tend to be worth more than smaller homes.

Assessment of condition - The realtor will assess the general condition of your home, which impacts the home's value. He/she may also recommend improvements at this stage to help you augment the value of your home.

Architectural style - Home styles that are in vogue add more value to your home.

Age of your home - In general, newer homes attract higher prices than comparable older homes. However, this principal does not necessarily apply to unique properties or historic homes.

Features and facilities - The realtor also evaluates the various features your home contains such as the number of bedrooms, baths, fireplaces, type of heating and cooling systems, amount of space for parking, storage, etc.

Location - The San Diego neighborhood where your home is located contributes greatly to its value. Homes in communities with high demand tend to be more expensive than communities with low demand.

Nearby Facilities - Homes that are situated near the coastline, educational institutions, shopping centers and other amenities tend to have better value than homes that are not close to such amenities.

Comparable Sales - The Realtor will evaluate the price of recently sold homes in your community that are most similar to the property in question.

So if you are a potential home seller, enlist the services of a local realtor who can not only help you determine your home's market value, but will also create a marketing strategy to help you sell your home in a timely manner.

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