How much is your Houston Texas Home Worth? Click Here To Learn More

Are you interested in learning more about the value of your Houston Texas Home? If so, you've come to the right place!

Depending on the stage that you're at in life your home could be worth more or less depending on a variety of factors including fair market value, insured value, investment value and assessed value.

In this article I will break down the meaning of each value and how it applies to you:

Fair Market Value

Fair market value is the price a buyer and seller can agree upon assuming both are knowledgeable, willing and unpressured by extraordinary events. This value is generally indicated by a comparable market analysis done by real estate professionals.

Insured Value

Insured value is determined for insurance coverage. Homeowner policies typically have replacement clauses in them and the cost of demolition, new construction and the added complexities of matching existing construction could exceed the cost of new construction.

Investment Value

Investment value is based on the income it can generate during its useful life. This value is dependent on what kind of yield an investor requires to capitalize the value over time. The formula for this is to divide net operating income by the capitalization rate required by the investor.

Assessed Value

The assessed value of a home is used to determine the property taxes the owner must pay. This value is determined by the responsible state government agency.

Homeowners are generally more familiar with their home’s market value. Since it can be lower than the replacement cost, owners should review the insured value with their property insurance agent periodically.

There can be a surprising difference in each of these separate values. It is important to know the purpose that it is going to be used for the value.

Find Out The Value Of Your Houston Texas Home

To get the value of your Houston Texas Home contact me, Kim Buish, Realtor(R) with Red Door Realty & Associates by calling me at (713) 819-1642 or click here to connect with me online.