A house is the biggest investment of any person. Although millennials are spending too much on avocados, they are putting down payments on their new homes. About 40% millennials are already homeowners, and they have a good idea about the management of home mortgage and loans. If you are one of the lucky ones with their own apartments or houses, you need to know the real worth of it in the real estate market. It will not only help you upgrade your home, but it will also aid your loan application process for a new house.
Here are a few ways you can find out what the best real estate agents in Singapore can get you for your house –
1. Take help from the online tools
You can search for “home value estimators” on your favorite search engine, or you can download applications that enable you to include specific value-adding features of your home for proper evaluation. Real estate websites like Perry Siow real estate can give you accurate estimates as well.
2. Get an expert opinion
You don’t have to approach a real estate agent for this process. You can ask a friendly real estate broker to check your home and give his or her expert opinion. Weighing their value with the price of similar properties in the market will provide you with a constructive idea about the possible price.
3. Get a professional appraiser
An appraiser evaluates the market, property traits, and comparable properties in similar locations before sharing their estimates. An appraiser is a person, who has the expertise to weigh several factors and give the most appropriate market value of a property on a specific date.
4. Check out comparable properties
It is the easiest thing to do. Check out reliable real estate websites and find out how much similar properties are worth right now. Browse sites that have lists of sales. Find at least three recent comparisons to weigh the value of your home. Once you find these comparable homes, you need to customize the features. That includes adding value to the comp price, inclusion of market trends, and the adjustment of value according to recent renovations.
5. Check loan websites
It is a smart way to find the accurate price tag on your house. Irrespective of your current location and the type of home you own, these loan websites can provide objective evaluations. Most loan websites evaluate while keeping the loan qualifying criteria and security valuation in mind. Therefore, near-accurate estimation is something they excel at.
Knowing the value of your house or apartment is critical before going into the market to either sell your property or buy one. When you are investing for the long-term, you need to weigh the current worth of it. The economy is fluctuating, and the real estate market is volatile. Without enough comparison and regular evaluation, it might become impossible for any homeowner to get the fair price for his or her property in the near future.