Many people who live in their houses would like to know how much their house is worth because they may be planning to shift into a better and bigger house. There may also be various people who are planning to move into another city for some reasons and they may be planning to sell their house. There are also some people who have been hit by the hard times and they want to sell their house to make sure that they are able to pay off their debts. These are the kind of people who think how much is my house worth.
The worth of the house is dependent on various factors. These factors are the ones that determine the value of the house if it is put up for sale. So when one thinks as to how much is my house worth, the person has to really know about the factors that play a role in the value of the house.
The first thing that plays a role in the value of the house is the location of the house. The location means the city in which the house is present. It also means which part of the city the house is located in. Any house that is present in a big city will be worth much more than the same kind of house in a smaller city.
Another important factor that plays a role in the value of the house is the number of years since the house has been built. The older the house, the lesser the worth because as a house gets older the value decreases. It is just opposite to the land value, which increases over time. The land value, if you own it along with the house, will keep increasing.
Another factor that plays a role in the worth of your house is how your house has been built and if the new buyer likes the house. If the house has been built according to the liking of the person with whom you are negotiating to sell the house, then the value of the house will increase, whereas if the house has not been built very well, the value of the house will be less and the person planning to buy your house may not pay a lot for the house.
These are the various things that determine how much your house is worth. Generally the value of the house is determined on all these factors by a house evaluator who determines the worth of the house.