{"id":10514,"date":"2026-08-12T04:00:02","date_gmt":"2026-08-12T11:00:02","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=10514"},"modified":"2026-08-12T07:05:59","modified_gmt":"2026-08-12T14:05:59","slug":"check-house-value","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/check-house-value\/","title":{"rendered":"Check Your House Value: 7 Reasons It Pays to Know"},"content":{"rendered":"<p>As a homeowner, there are good reasons to check your house value, even if you have no immediate plans to sell.<\/p>\n<p>Maybe you\u2019ve noticed home prices in your neighborhood changing, and you&#8217;re curious how much equity you have. Or perhaps you&#8217;ve made major improvements to your house and are wondering how they might have increased its value.<\/p>\n<p>And if you are <a href=\"https:\/\/www.homelight.com\/blog\/steps-to-selling-a-house\/\">thinking about selling<\/a>, knowing your property&#8217;s approximate value can be an important first step toward estimating how much you might walk away with after the sale.<\/p>\n<p>HomeLight&#8217;s <a href=\"https:\/\/www.homelight.com\/home-value-estimator\/\">Home Value Estimator<\/a> can provide a ballpark estimate based on information about your property and current market data. But an online estimate is only a starting point. We&#8217;ll explain when you may want a more detailed opinion of value from a real estate agent or <a href=\"https:\/\/www.homelight.com\/blog\/what-appraisers-look-for-in-a-house\/\">appraiser<\/a>.<\/p>\n\n\n\n\n\n<div class=\"geo-cta widget-cta widget-cta--content     widget-cta--dark widget-cta--dark-blue-gradient\">\n    <div class=\"widget-element--content\">\n        <div class=\"widget-element--content-header\">\n            <img decoding=\"async\" alt=\"homelight logo\" class=\"widget-element--logo\" src=\"https:\/\/www.homelight.com\/blog\/wp-content\/themes\/ccprototypev5\/images\/logo-small-cta.png\" width=\"106\" height=\"25\" \/>\n        <\/div>\n        \n                <h3 class=\"cta-headline widget--bold\">Check Your Home Value for Free<\/h3>\n                        <p>How much equity have you gained? HomeLight&#8217;s tool uses recent sales records, market trends, and your home&#8217;s most recent sale price to provide a preliminary value. See what your home might be worth today!<\/p>\n        \n                <div class=\"widget-element--buttons\">\n            <a data-type=\"In Content CTA\" href=\"https:\/\/www.homelight.com\/simple-home-value\/quiz?#\/qaas=0\/\" class=\"cta-click-track widget-element--button\">Get Value Estimate <\/a>\n        <\/div>\n                    <\/div>\n<\/div>\n\n\n<h2>When should you check your house value?<\/h2>\n<p>There&#8217;s no need to obsess over every fluctuation in your home&#8217;s estimated value. But there are times when knowing what your property might be worth can help you make an important financial or selling decision.<\/p>\n<p>Here are seven situations when it&#8217;s worth checking. <div id=\"section--1\" data-toc-header=\"1. Thinking about selling\" data-toc-type=\"head\"><\/div><\/p>\n<h3>1. You&#8217;re starting to think about selling<\/h3>\n<p>If a <a href=\"https:\/\/www.homelight.com\/blog\/what-to-do-to-sell-your-house\/\">home sale<\/a> may be in your future, checking your house value can give you an early sense of what the move might look like financially.<\/p>\n<p>Your estimated value isn&#8217;t necessarily your future <a href=\"https:\/\/www.homelight.com\/blog\/pricing-your-home-to-sell\/\">listing price<\/a> or final sale price. However, it can help you start thinking about how much equity you have and what you might be able to spend on your next home.<\/p>\n<p>\u201cFinding out the value of your home is the number one factor in deciding when to sell,\u201d says Megan Toll, a top real estate agent with <a href=\"https:\/\/www.homelight.com\/agents\/kevin-toll-pa-306972\">The Toll Group<\/a> serving the Greater Philadelphia area.<\/p>\n<p>Just don&#8217;t let an attractive number become the only reason you sell.<\/p>\n<p>\u201cI think the biggest thing is don&#8217;t sell just because your home has value on it,\u201d says Michigan real estate expert <a href=\"https:\/\/www.linkedin.com\/in\/thekevinyoder\/\">Kevin Yoder<\/a>. \u201cUnless there&#8217;s something strategic in that.\u201d<\/p>\n<p>Instead, consider what you hope to accomplish by selling, whether that&#8217;s relocating, <a href=\"https:\/\/www.homelight.com\/blog\/when-to-downsize-your-home\/\">downsizing<\/a>, upsizing, or freeing up equity for your next move. <div id=\"section--2\" data-toc-header=\"2. Estimating your sale proceeds\" data-toc-type=\"head\"><\/div><\/p>\n<h3>2. You want to estimate what you could make from a sale<\/h3>\n<p>Your home&#8217;s estimated value and the amount you&#8217;d actually pocket from selling it are two very different numbers.<\/p>\n<p>Your potential proceeds will depend on factors such as:<\/p>\n<ul>\n<li aria-level=\"1\">Your final sale price<\/li>\n<li aria-level=\"1\">Remaining mortgage balance<\/li>\n<li aria-level=\"1\">Agent compensation (<a href=\"https:\/\/www.homelight.com\/blog\/real-estate-agent-commission-calculator\/\">commission<\/a>)<\/li>\n<li aria-level=\"1\"><a href=\"https:\/\/www.homelight.com\/blog\/seller-closing-cost-calculator\/\">Seller closing costs<\/a><\/li>\n<li aria-level=\"1\">Repairs or <a href=\"https:\/\/www.homelight.com\/blog\/prepare-your-home-for-sale\/\">home preparation<\/a> expenses<\/li>\n<li aria-level=\"1\">Other costs associated with the transaction<\/li>\n<\/ul>\n<p>That&#8217;s why checking your house value can be particularly useful when it&#8217;s paired with an estimate of your selling expenses.<\/p>\n<p><strong>Home Sale Net Proceeds Calculator<\/strong><\/p>\n<p><iframe style=\"max-width: 775px; margin: 0 auto; display: block; border-radius: 8px; box-shadow: 0 2px 10px rgba(0,0,0,0.1);\" title=\"Home Seller Closing Cost Calculator\" src=\" https:\/\/homelight-seller-closing-cost-calculator-2.vercel.app\/\" width=\"100%\" height=\"938px\" frameborder=\"0\"><\/iframe><\/p>\n<p>Use your estimated home value as a starting point to get a rough idea of what you could walk away with after your mortgage and estimated selling costs are deducted.<\/p>\n<p>An experienced real estate agent can provide a more detailed <a href=\"https:\/\/www.homelight.com\/blog\/sellers-net-sheet\/\">seller&#8217;s net sheet<\/a> based on your home&#8217;s likely sale price and anticipated expenses. <div id=\"section--3\" data-toc-header=\"3. Checking your home equity\" data-toc-type=\"head\"><\/div><\/p>\n<h3>3. You want to know how much equity you&#8217;ve built<\/h3>\n<p>If your home is worth more than you owe on your mortgage, you&#8217;ve built <a href=\"https:\/\/www.homelight.com\/blog\/what-is-home-equity\/\">equity.<\/a><\/p>\n<p>A simple way to estimate it is:<\/p>\n<p style=\"text-align: center;\"><strong><em>Estimated home value \u2212 outstanding mortgage balance = estimated home equity<\/em><\/strong><\/p>\n<p>For example, if your home is worth approximately $500,000 and you owe $300,000 on your mortgage, you have roughly $200,000 in equity.<\/p>\n<p>That doesn&#8217;t mean you&#8217;d pocket $200,000 from a sale because <a href=\"https:\/\/www.homelight.com\/blog\/what-fees-are-associated-with-selling-a-house\/\">selling expenses<\/a> would still need to be deducted. But knowing your equity can help you understand where you stand financially so you can better plan your next move.<\/p>\n<p>Equity can also potentially be borrowed against through options such as a <a href=\"https:\/\/www.homelight.com\/blog\/buyer-heloc-vs-home-equity-loan\/\">home equity loan or home equity line of credit<\/a> (HELOC). If that&#8217;s what you&#8217;re considering, HomeLight&#8217;s <a href=\"https:\/\/www.homelight.com\/blog\/home-equity-calculator\/\">Home Equity Calculator<\/a> can help you estimate how much borrowing power you may have. <div id=\"section--4\" data-toc-header=\"4. Removing private mortgage insurance\" data-toc-type=\"head\"><\/div><\/p>\n<h3>4. You may be able to remove private mortgage insurance<\/h3>\n<p>If you bought your home with a conventional mortgage and put down less than 20%, you may be paying <a href=\"https:\/\/www.homelight.com\/blog\/what-is-pmi-can-you-get-rid-of-it\/\">private mortgage insurance<\/a> (PMI).<\/p>\n<p>Depending on your loan and circumstances, paying down your mortgage may eventually allow you to request PMI cancellation. Some loan programs or servicers may also allow you to demonstrate increased equity through a new valuation if your home has appreciated. Contact your mortgage servicer to find out which requirements apply to you.<\/p>\n<p>Toll encourages homeowners paying PMI to investigate their options rather than simply leaving the charge on autopilot.<\/p>\n<p>\u201cPMI is huge,\u201d she says. \u201cYou can save $100, $200, $300 a month by dropping the PMI. It&#8217;s a big savings.\u201d<\/p>\n<p>PMI cancellation rules vary depending on factors such as your loan, payment history, and how the equity was accumulated, so contact your mortgage servicer to find out which requirements apply to you.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Check your house value to estimate sale proceeds, understand your equity, review major improvements, and make informed decisions about selling your home.<\/p>\n","protected":false},"author":298,"featured_media":72709,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","cybocfi_hide_featured_image":"","footnotes":""},"categories":[320,330],"tags":[726],"class_list":["post-10514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-add-value","category-house-value","tag-where-can-i-get-a-free-online-home-value-estimate"],"acf":[],"yoast_head":"<!-- This site is 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