What is my Home Worth?

What's Your Home Worth?

Wondering what your home is worth? Let us help. Your gateway to Chicagoland real estate.

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If you’re thinking about selling your home, it’s important to know what it’s worth. After all, the value of a house can have a big impact on how much money you get for it when you sell, and that can make a difference in whether or not you’ll be able to buy another home with the proceeds from your first. We can get you an accurate estimate of your home’s value in Chicago, Illinois and let you know what type of improvements would be best for the property.

Valuation Form

It’s a question that comes up all the time, leaving many wondering. You may be thinking about selling your house or looking to buy a property in your area. Either way, it’s important to know how much you can expect to sell or buy a home for. To give you an idea of what your home is worth in Chicago, Illinois, we’ve put together this guide to help you understand the process of figuring out what your house is worth and how to do it.

Your neighbor’s house may be similar to yours, but it’s not identical. Your home is unique in many ways: the neighborhood, the layout, construction and materials used, square footage, and room dimensions. That means there’s no reason to assume that your neighbor’s sale price should be your guide when it comes time for you to sell.

If you were to sell your home this year, a buyer would be interested in the location and how it impacts the price of the home. Location can affect how much you pay for your mortgage and whether or not there are any amenities nearby. For example:

  • A house with an ocean view is more desirable than one without.
  • An apartment within walking distance of shopping or restaurants will command higher rent than one further away from shops and restaurants.
  • Has it been a long time since you purchased or moved into the home? If so, there may be some value in its history as part of your neighborhood.
  • Have you made significant improvements to the property? Has it increased in value because of these improvements?
  • Have recent renovations brought out its architectural beauty or added value to other potential buyers?

Timing is everything when it comes to selling a home. If you’re not getting any offers, it’s time to consider lowering your price. The “For Sale” sign in your yard will have a bigger impact on how buyers view your home than anything else — except perhaps its condition and location. If other houses on the market nearby are listed at lower prices, buyers may be deterred from considering yours.

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