Excellent (New/Renovated)
Good (Well Maintained)
Fair (Needs Minor Repair)
Poor (Fixer Upper)
Estimated Home Value
function calculateEstimatedPrice() {
var livingArea = parseFloat(document.getElementById('livingArea').value);
var ppsf = parseFloat(document.getElementById('pricePerSqft').value);
var bedrooms = parseFloat(document.getElementById('bedroomCount').value);
var bathrooms = parseFloat(document.getElementById('bathroomCount').value);
var condition = parseFloat(document.getElementById('propertyCondition').value);
var lotPremium = parseFloat(document.getElementById('lotPremium').value) || 0;
if (isNaN(livingArea) || isNaN(ppsf) || isNaN(bedrooms) || isNaN(bathrooms)) {
alert("Please fill in all basic physical attributes of the home.");
return;
}
// Calculation Logic:
// 1. Base Value = Area * Price per Sq Ft
// 2. Bedroom Adjustment = $10,000 per bedroom (standard appraisal adjustment)
// 3. Bathroom Adjustment = $7,500 per bathroom
// 4. Sum these and apply condition multiplier
// 5. Add Lot Premium at the end
var baseValue = livingArea * ppsf;
var bedAdj = bedrooms * 10000;
var bathAdj = bathrooms * 7500;
var subTotal = (baseValue + bedAdj + bathAdj) * condition;
var finalEstimate = subTotal + lotPremium;
var resultDiv = document.getElementById('priceResult');
var priceDisplay = document.getElementById('finalPrice');
var breakdown = document.getElementById('priceBreakdown');
priceDisplay.innerHTML = "$" + finalEstimate.toLocaleString(undefined, {minimumFractionDigits: 0, maximumFractionDigits: 0});
breakdown.innerHTML = "Based on " + livingArea + " sq ft at $" + ppsf + "/sq ft, plus " + bedrooms + " bedrooms and " + bathrooms + " bathrooms, adjusted for a condition multiplier of " + condition + "x and a lot premium of $" + lotPremium.toLocaleString() + ".";
resultDiv.style.display = 'block';
}
How to Calculate Home Price Without a Loan
Determining the price of a home is a calculation of physical attributes and market data, independent of financing or interest rates. Professional appraisers and real estate agents use a method called the Sales Comparison Approach to derive value. This calculator replicates that logic by focusing on tangible data points.
Key Factors in Home Valuation
Gross Living Area (GLA): This is the total finished, heated, and cooled square footage. Basements and garages are usually calculated separately.
Price per Square Foot (PPSF): This is the most volatile variable. It is determined by looking at "comps" (comparable homes) that have sold in your immediate neighborhood within the last six months.
Bedroom/Bathroom Count: In appraisal logic, adding a bedroom or bathroom adds specific incremental value to the base square footage price.
Condition Multiplier: A home in "Excellent" condition (turn-key) commands a premium, whereas a "Poor" condition home requires a discount to account for the cost of future repairs.
Example Calculation
If you have a 1,500 sq ft home in an area where the average price is $200 per sq ft, your base value starts at $300,000.
If that home has 3 bedrooms (+$30k) and 2 bathrooms (+$15k), the subtotal is $345,000. If the house is in "Fair" condition (0.85 multiplier), the adjusted value becomes $293,250. Finally, adding a unique $10,000 lot premium for a corner lot brings the final estimated price to $303,250.
When to Use This Tool
This calculator is ideal for homeowners looking to list their property or buyers trying to determine if an asking price is justified based on the physical specs of the house rather than the monthly payment. It strips away the "affordability" aspect and focuses purely on "asset value."