The market value of your residential unit carries importance between long lists of financial decisions including home selling, mortgage refinancing, estimating your annual property tax bill managing various investments and much more. The current market value of your home or condo unit does not depend upon how much you have been paying for months. It is recommended to obtain and gather information from various resources then to rely on home valuation.
Real estate agents are able to prepare a smooth market analysis and would help to achieve your goals. The market analysis shows the prices of recently sold homes which are comparable to yours and various prices of comparable homes around the market.
You will have to spend some money on the appraisals which depends upon the size of your home or condo unit. Appraisals depend on the in-person inspection of your residential unit. The report created by the appraiser is a comprehensive description of your home.
You might also visit neighbourhood open houses to estimate the prices as compared to your home. Other then these, you may also research about it online as many websites provide free home valuation services.