If you’re a homeowner, you’ve probably checked out your home’s estimated value on national real estate websites like Zillow.com or Redfin.com. Maybe you just peeked to see where you might stand in terms of equity, to confirm that your home’s value is increasing, or to gauge its value in a fluctuating real estate market. 

Or perhaps you’re ready to sell your home and need a better idea of its listing price. 

Regardless of your intent, it’s important to remember one thing when searching those popular real estate websites: their calculations are not always accurate. Take them with a grain of salt; take advantage of these sites to get a ballpark idea of your home is worth. Then, use our steps below to determine its real value. 

First, head to the hamiltoncountyauditor.org website
to see where the county values your home. These appraisals are market-based and include recent home sales in your home’s neighborhood and broad physical characteristics like the age of the house. Known as the house’s assessed value (versus the market value), this is usually used for tax purposes. 

County tax assessors may also consider improvements you made to the house, income from renting, and replacement costs of the home in the event it gets destroyed. 

Next, look at recent home sales in your neighborhood
Appraisers use this data to determine a home’s value, so you can stay ahead of the game by doing a search and communicating with an appraiser should you decide to hire one. 

You can find out how homes around you recently sold on Zillow, Realtor, Redfin, or other national real estate websites. 

You’ll also want to talk to a real estate agent
An agent can help you determine a deeper understanding of your home’s market value. This is especially important if you plan on selling your home (after all, it’s probably the million-dollar question!). A great real estate agent will know the market well, understand the current interest rate landscape, have marketing savvy,  be very familiar with your neighborhood, and know how to attract the right buyers. 

List what needs repairs or updating to determine your home’s value
Simple issues like rooms that need a few coats of paint or outdated bathroom fixtures might not factor significantly; other problems, such as worn windows and an outdated, damaged roof, will. 

Ask yourself: What makes my home unique?
Buyers may be willing to overlook the walls you painted purple if your home features light-filled rooms or a kitchen fit for a chef, for example. 

Consider your home’s location
You know what they say: “Location, location, location.” And that’s good news because if your home is in the Cincinnati region, its value has probably benefited from the fact that the Queen City is a highly desirable place to live. According to Redfin.com, in December 2023, Cincinnati home prices were up 11.2% compared to last year, selling for a median price of $259K.

Remember: don’t simply rely on a big realtor website to gauge your home’s value. Here at Classic Living Homes, we recommend our clients do their homework to make sure they know their home’s worth.