How Do You Determine Equity In A Home?
Determining the equity value of a home is a critical skill for a homeowner to have. Many real estate agents will tell you that your home is worth a certain amount of money, but it is important to independently verify their claims before making a decision on whether or not to sell. The easiest way to determine the equity value of your home is to calculate the value of your house based upon what other comparable houses sell for in your neighborhood. Fortunately, finding information on comparable home sales has become much easier in recent years. Search for comparable homes in your neighborhood using Trulia.com (see Resources). Enter the number of bedrooms, bathrooms and year of construction along with your zip code into the search bar on the home page and click “Search.” Click on a particular home that closely matches yours and click the “Compare” tab. The resulting web page will show the selling price per square foot for comparable houses in your area. Average the selling price per squa
