Any valuation of your house is an estimate. Even a professional appraisal is an opinion, although an educated one, of what the property might sell for if it were on the market. A property’s value is also a snapshot in time, because its value changes over time: the local housing market might improve or decline. Also, the condition of the house over a period of time will have an impact on the value of the house.
Whether you are staying in or selling your home, there are several benefits of knowing your home’s true value.