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Property value can be a tricky thing to determine. Often, the true value of a home is in the eye of the owner. You have memories and history tied to your home, and these sentimental experiences have value for you! While your home isn’t purely a monetary investment, you do want to make sure that when it comes time to sell, you get the maximum value for your home. So, how can you tell what your home is worth. In today’s blog, we explore the factors that determine home value, and where you can start when you need an estimate for your own home.

What Factors Determine Home Value?

The hard, monetary value of your home is the product of a number of different factors, some of which can be absolutely determined, and some of which are a little more abstract. At the end of the day, your home is worth what someone will pay for it, but getting a feel for what that number should be is a good place to start.

The amount of property tax that you pay each year can actually be a useful factor in determining the value of your home. This number will tell you what the government thinks your house is worth. While this isn’t an absolute, it’s a good reference for listing your home.

What Are Homes Near You Selling For?

The value of your home can be determined partially by the square footage and features that it has. If you’ve made additions like finishing the basement, or upgrading fixtures, these renovations can potentially add value to your home. However, location (as it’s been said so many times before) is arguably the most important factor in determining your home’s value. If you live in a coveted neighborhood, it can skyrocket the value of your home. One way to find out what your home might be worth is by researching the sale prices of homes near you. If you find that a similar home in your area has sold for a certain price, this might be a realistic price for your home as well.

Work with a Real Estate Agent to Get a Better Feel

When it’s time to sell your home, you don’t want to leave money on the table. The best way to maximize the value of your home is by working with a professional. A real estate agent has industry intel on what a realistic sale price is for your home, but your agent can also help you with staging and taking other steps to ensure you get the most for your property. If your real estate agent knows the area and the profile for potential homebuyers, he or she can make sure the right people are seeing your home.

Bill Swanson Is Omaha’s Real Estate Agent

With over 25 years of experience helping families buy and sell their homes in the Omaha area, Bill Swanson has developed a comprehensive knowledge of the market. Bill is an Omaha-native, so he knows the ins and outs of the entire metro. If you’re ready to list your Omaha, NE home, contact Bill Swanson at 402-679-6566 to make sure that you get the most value possible.