{"id":7604,"date":"2023-08-28T22:18:32","date_gmt":"2023-08-28T22:18:32","guid":{"rendered":"\/blog\/?p=7604"},"modified":"2024-12-18T15:54:24","modified_gmt":"2024-12-18T10:24:24","slug":"how-to-calculate-the-resale-value-of-your-house","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-home\/how-to-calculate-the-resale-value-of-your-house\/","title":{"rendered":"How to Calculate the Resale Value of Your House"},"content":{"rendered":"\n

<\/p>\n\n\n\n

If you are planning to sell your house, it is imperative to know how much you can you can sell it for. This amount is what we call the resale value or the market value of your house. If you do not know what the proper resale value of your house is, you may end up selling it for less than you should.<\/p>\n\n\n\n

However, calculating the resale value is not a simple procedure –\nyou have to take into account multiple factors such as:<\/p>\n\n\n\n

1. External Elements<\/strong><\/p>\n\n\n\n

These can include the condition of the walls and the roof on the\noutside, the curb appeal or attractiveness when it is viewed from outside,\npavement, and sewage system.<\/p>\n\n\n\n

2. Internal Elements<\/strong><\/p>\n\n\n\n

The size of your house and the number of rooms it has, especially\nthe number of bedrooms, will ultimately be the biggest factor in determining\nits value. Apart from this, the condition of the electronic appliances and\nwhether the house is furnished or not in the first place also play a role in\nthis calculation.<\/p>\n\n\n\n

3. Location<\/strong><\/p>\n\n\n\n

The safety and peacefulness of the neighbourhood your house is in\nwill have a great impact on its resale value. Most people will not spend a lot\nof money to live in an unsafe or dirty neighbourhood, or a neighbourhood that\nis very far away from any means of public transport.<\/p>\n\n\n\n

4. Supply and Demand<\/strong><\/p>\n\n\n\n

Ultimately, the number of buyers in your area as compared to the number\nof homes on sale will determine the dynamic value of your home. This is the one\nfactor that may be completely out of your control.<\/p>\n\n\n\n

How do I Calculate the Market Value?<\/strong><\/p>\n\n\n\n

The simplest method for evaluating the resale price of your house is\nwhat we call the “sales comparison” approach. List out the following\nfeatures of your property:<\/p>\n\n\n\n

1. Lot size<\/p>\n\n\n\n

2. Location<\/p>\n\n\n\n

3. Built-up area<\/p>\n\n\n\n

4. Age<\/p>\n\n\n\n

5. Number of bedrooms<\/p>\n\n\n\n

6. Overall condition<\/p>\n\n\n\n

Once you have done this, you need to look at comparable properties\nin your area that are currently on sale or have been sold in the last 3-6\nmonths. These properties should share at least some, if not all, of the\nfeatures of your own house.<\/p>\n\n\n\n

After you have looked at a few such properties, average out their\nsale prices and give or take a few rupees according to any differences there\nmight be in your property and the other properties. This will give you a\nbenchmark price, which will be a good indicator of your house’s resale value.<\/p>\n\n\n\n

With Tata Capital, though, housing finance becomes easy. If you apply for a Tata Capital home loan<\/a>, you will not have to worry about any extra penny you will have to pay to buy a new house after you sell your old one. Tata Capital’s home loans feature the most flexible home loan eligibility<\/a> criteria along with low home loan interest rates<\/a> starting at 9.25%. Apply for a home loan with Tata Capital<\/a> today.<\/p>\n\n\n\n

Apply For Home Loa<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

If you are planning to sell your house, it is imperative to know how much you can you can sell it for. <\/p>\n

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