Purchasing a new home is a big decision, and not one that should be taken without lots of prior research. In this guide we shall look at how you can find and use online home reports to make the best decision when purchasing your home and answer your question "How Much Is My House Worth". 
 

What are Online Home Reports?

There are many websites online that are dedicated to helping people like you find out the latest property market statistics and information. Online home reports can include a whole range of information including values of homes as well as analysis of current housing market statistics. 
 

Online home reports differ from physical appraisals in that they are usually computer generated. They are produced using systems called AVM’s (Automated Valuation Models), which use the latest market statistics and data to produce accurate analyses of your home or a home you wish to purchase. 

Although a physical appraisal on a house is generally the best option, an online home report gives you the option to have an instantaneous report and saves having to spend a lot of time dealing with a real estate agent. It also puts all the basic information you need into one easy-to-understand document.

What is Included in an Online Home Report?

Different online home reports will include different information, but what we include here is typically what you will receive with your online home report. Online home reports should include an easy-to-read graph that shows the movement of the value of houses in your chosen area (or a specific house if you are researching an already owned home) over the past 12 months or more. 
 

There should also be a written analysis of the market trends for the surrounding area as well as a confidence scoring. If you are ordering a report on a specific home it will include sales history for that home usually going back at least a couple of decades. There will also be a list of comparative sales from the area with sale values and sale dates.  Comparable sales are useful because they give you a list of other property sales that have occurred in the area and you can use these to help assess whether your home or the one you are considering buying is valued at an accurate price.