House Estimate Calculator

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House Market Value Estimate Calculator

Poor (Needs Repairs) Fair (Livable, Dated) Good (Standard) Excellent (Like New) Luxury (High-end Finishes)
Sub-par / Remote Standard Residential Desirable / Developing Premium / High Demand

Estimated Market Value

How This House Estimate Calculator Works

Valuing a home accurately requires looking at several quantitative and qualitative metrics. This calculator uses the Sales Comparison Approach logic combined with property-specific adjustments to provide a realistic market range.

Key Factors Influencing Your Estimate:

  • Living Square Footage: This is the most critical driver of value. We calculate your base value by multiplying your total heated square footage by the average price per square foot for recently sold "comparables" in your area.
  • Room Count: While square footage sets the base, the utility of the space matters. Each bedroom and bathroom adds a specific premium based on standard appraisal adjustments (typically $5,000 – $10,000 per room).
  • Condition Multiplier: A home requiring a new roof or HVAC system (Poor) is valued significantly lower than a home with professional staging and high-end finishes (Luxury).
  • Location Factor: Location is the one factor you cannot change. Premium locations (near waterfronts, top-tier schools, or city centers) can command a 20-40% premium over standard residential zones.

Example Estimation:

If you have a 2,000 sq. ft. home in a standard residential area ($150/sq. ft. average), with 3 bedrooms and 2 bathrooms, in Good condition:

  1. Base: 2,000 × $150 = $300,000
  2. Room Adjustments: (3 Beds × $5,000) + (2 Baths × $7,500) = $30,000
  3. Subtotal: $330,000
  4. Final Adjustments: With Condition (1.0) and Location (1.0), the estimate remains $330,000.

Note: This tool provides an estimate. For a legal valuation, you should hire a licensed professional appraiser or request a Comparative Market Analysis (CMA) from a local real estate agent.

function calculateHouseValue() { var sqFt = parseFloat(document.getElementById('sqFt').value); var pricePerSqft = parseFloat(document.getElementById('pricePerSqft').value); var bedrooms = parseFloat(document.getElementById('bedrooms').value); var bathrooms = parseFloat(document.getElementById('bathrooms').value); var conditionFactor = parseFloat(document.getElementById('condition').value); var locationFactor = parseFloat(document.getElementById('location').value); var renovations = parseFloat(document.getElementById('renovations').value); // Validate inputs if (isNaN(sqFt) || isNaN(pricePerSqft) || sqFt <= 0 || pricePerSqft <= 0) { alert("Please enter valid numbers for Square Footage and Price per Sq. Ft."); return; } // Calculation Logic // 1. Base Value var baseValue = sqFt * pricePerSqft; // 2. Utility Premium (Beds/Baths) var roomPremium = (bedrooms * 5000) + (bathrooms * 7500); // 3. Renovation ROI (Typically 70% of cost is reflected in immediate value) var renoValue = renovations * 0.7; // 4. Aggregate Subtotal var subtotal = baseValue + roomPremium + renoValue; // 5. Apply Condition and Location Multipliers var finalEstimate = subtotal * conditionFactor * locationFactor; // 6. Calculate Range (Margin of error +/- 5%) var lowRange = finalEstimate * 0.95; var highRange = finalEstimate * 1.05; // Formatting var formatter = new Intl.NumberFormat('en-US', { style: 'currency', currency: 'USD', maximumFractionDigits: 0 }); document.getElementById('finalEstimate').innerText = formatter.format(finalEstimate); document.getElementById('priceRange').innerText = "Estimated Market Range: " + formatter.format(lowRange) + " – " + formatter.format(highRange); // Display result document.getElementById('resultArea').style.display = 'block'; document.getElementById('resultArea').scrollIntoView({ behavior: 'smooth', block: 'nearest' }); }

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