How You Can Find Your Staten Island Home's Valuation

It may be possible that you are thinking of selling your home or perhaps you want to re-negotiate your mortgage. You are going to need to know what your home's value is worth. In a city as large as New York City, you will find that you can't compare your home in Staten Island to one that is located in Manhattan. House prices and valuations will differ due to many different factors. How do you find your Staten Island home valuation? Here are some tips on finding out what your home is worth.

Check Online Valuation Tools

If you are curious about finding out your Staten Island home valuation, you can first check out online tools to find your home's worth. These online tools have pretty good accuracy and they can give you an approximate idea of what you could receive for your home if you choose to sell it. It can also be helpful if you need your home's valuation for a loan or new mortgage.

Websites where you can find real estate listings offer online valuation tools. You need to make sure you give accurate information about your home, including where it's located, both Staten Island and the neighborhood, the size of the home, and how many bedrooms and bathrooms it has. The tool will give an estimate based on other sales in the area. If you do plan to sell your home, it's best to rely on a professional valuation service or appraiser to get the most accurate results.

Market Analysis

Another way you can get an idea of your home valuation is to get your real estate agent to do a market analysis of the homes that have sold in your area and compare it to your own home. This can help you get an idea of what you could receive for your house should you choose to sell it.

A market analysis doesn't give you the same detail as an appraisal does but it's a good start to help you decide if now is the right time to sell or if waiting a few months might be the better idea. Real estate agents use market analysis to help you determine the sale price of the home, and it can be added to your listing as well so potential buyers can get an idea of comparable house sales.

Professional Appraisal

One of the best ways to find out the most accurate home valuation is to hire a professional appraiser. You will most likely need a professional appraisal done if you are looking to refinance or for a new mortgage, and many potential buyers want to know the actual value of the property to determine how much they want to place a bid for.

An appraiser will evaluate the overall market in your neighborhood and within Staten Island itself. They will evaluate your property, the size, number of rooms, the age of the home, and any improvements you have made to it. They will also look at other properties in the area and compare sales, listing prices, and if there are any vacancies nearby. This all determines what your home is valued at.