How to get a dispassionate appraisal of what a house is worth
June 18, 2012 6:10 AM Subscribe
What's the most dispassionate way to determine what a house is worth? Uncle owns a house and may sell it to us at a favorable rate, but we'd like to figure out a fair price to set overall, so that Uncle isn't shafted but we don't overpay, either.
posted by xo to Home & Garden (17 answers total)
Some of the variables at play:
- General area: VERY VERY good. Schools, town amenities, safety all A+.
- Specific area: mixed. Near a loud/dirty interstate highway, but also near a convenient commuter rail station. Small property, shared driveway. The yard has been neglected and would need tree work and possibly a retaining wall.
- House overview: Structurally sound, no leaks, no asbestos, no insect problems, has a dry basement.
- House details: Needs new HVAC, new boiler, new windows. Has not been renovated/updated in 25 years (has original carpets, kitchen, bathroom, paint).