How to Find the Value of Your Townhome

Buying a townhome can be a good investment, especially if the market value continues to increase at a steady rate. Within a few years after purchase, you may be able to sell your townhome for a profit. The best way to determine that is to find out the home's value---determined by the current market---and compare that to your purchase price. Typically, an appraiser is the best person to help you obtain an estimate.

Appraiser

Instructions

- 1
  Prepare your townhome for an appraisal to maximize the value. Before contacting an appraiser, complete all the necessary upgrades to increase your property value. For example, if your townhome is more than 50 years old, upgrade your electrical and plumbing system. Installing central air, and updating the kitchen and bathrooms can also increase your home's value.
- 2
  Hire an appraiser. Appraisers are licensed by individual states and are held to strict ethical standards. One way to find one is to contact your lender. Hiring an appraiser can cost anywhere from $300 to $500.
- 3
  Allocate time for an appraiser walk-through. The appraiser will examine the townhome---as well as the area surrounding it---to determine the value.
- 4
  Obtain the value of your townhome. Remember, the appraiser will take into consideration the landscape, the interior, and the current selling price for similar townhomes in that area to determine your home's value.
- 5
  Obtain a second opinion. Instead of hiring a second appraiser, compare your appraised value to a comparative market analysis (CMA). The CMA is not an alternative to hiring an appraiser, but a great way to compare your information with the current market.

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