Calculate the estimated market value of your property
Estimated Property Value:
How is House Price Calculated?
Determining the price of a house involves analyzing several core components of the property. Unlike a loan calculation which focuses on debt, a valuation focuses on the intrinsic and market-driven assets of the physical property.
Key Valuation Factors
Total Living Area: Often referred to as "Gross Living Area" (GLA), this is the finished, heated space. Generally, the more square footage, the higher the value.
Market Comparables: The price per square foot is determined by what similar houses in your neighborhood have recently sold for.
Lot Value: The raw land value can fluctuate significantly based on location, view, and zoning.
Depreciation: Older homes typically face physical depreciation. In our calculator, we apply a standard depreciation factor based on the age of the structure.
Upgrades: Modern kitchens, finished basements, or new HVAC systems add direct value to the total assessment.
Real-World Example
Imagine a property with the following stats:
Living Area: 2,000 Sq. Ft. at $200/sqft = $400,000
Lot Size: 0.5 Acres at $100,000/acre = $50,000
Upgrades: $25,000
Age: 10 years (Depreciation impact)
Total Estimated Value: Approximately $465,000 – $475,000 depending on maintenance.
Market Value vs. Appraised Value
It is important to note that a calculated estimate is a starting point. Market Value is what a buyer is willing to pay on the open market, while Appraised Value is a professional opinion of value used by lenders. This calculator provides a cost-approach estimation to help you understand your equity and market position.
function calculateHousePrice() {
// Get Input Values
var sqft = parseFloat(document.getElementById("hvc_sqft").value);
var ppsqft = parseFloat(document.getElementById("hvc_price_sqft").value);
var lotSize = parseFloat(document.getElementById("hvc_lot_size").value);
var landValue = parseFloat(document.getElementById("hvc_land_value").value);
var upgrades = parseFloat(document.getElementById("hvc_upgrades").value);
var age = parseFloat(document.getElementById("hvc_age").value);
// Validate Inputs
if (isNaN(sqft) || isNaN(ppsqft)) {
alert("Please enter at least the Square Footage and Price per Sq. Ft.");
return;
}
// Default 0 for optional fields
if (isNaN(lotSize)) lotSize = 0;
if (isNaN(landValue)) landValue = 0;
if (isNaN(upgrades)) upgrades = 0;
if (isNaN(age)) age = 0;
// Calculation Logic
var structureValue = sqft * ppsqft;
var totalLandValue = lotSize * landValue;
// Simple Depreciation Logic (0.5% per year of the structure value, capped at 50%)
var depreciationPercent = (age * 0.005);
if (depreciationPercent > 0.5) depreciationPercent = 0.5;
var depreciationAmount = structureValue * depreciationPercent;
var finalEstimate = structureValue + totalLandValue + upgrades – depreciationAmount;
// Formatting currency
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
maximumFractionDigits: 0
});
// Display Results
document.getElementById("hvc_result_box").style.display = "block";
document.getElementById("hvc_total_value").innerText = formatter.format(finalEstimate);
var breakdownHtml = "Breakdown:" +
"Structure Value: " + formatter.format(structureValue) + "" +
"Land Value: " + formatter.format(totalLandValue) + "" +
"Upgrades: " + formatter.format(upgrades) + "" +
"Age Depreciation: -" + formatter.format(depreciationAmount);
document.getElementById("hvc_breakdown").innerHTML = breakdownHtml;
// Smooth scroll to result
document.getElementById("hvc_result_box").scrollIntoView({ behavior: 'smooth', block: 'nearest' });
}