Tips to evaluate your personal assets

With the fluctuating market conditions, there are increased chances of the value of your investments to either increase or decrease. This will create a gap between the values of your assets and makes it difficult to know the precise value of all the assets.

Henceforth it is very important that you maintain an updated record of your assets as not doing that will put you in a complicated situation when you are actually looking forward to sell them. A person should be knowledgeable about how to properly evaluate his/her personal assets and keep a track of the current net value of the assets.

Simple steps to evaluate a property:

Create a list of assets:

To evaluate the value of your property, you should create a list of all the valuable assets you own and should include objects like vehicles, investments, bank accounts and other properties.

Bank value:

Refer the value of your bank accounts with transactions in the recent month’s bank statement. You can know the value of your bank account by viewing your bank’s statements as the accounts convert immediately to cash.

Investment value:

Make a list of the value of your investments from the recent brokerage statement. Since you will be selling the investments based on their market value, make use of the statement balance which can help you evaluate the value of your statements. Since market value changes every day, look up for the recent statement.

Research:

Do a research of the current sale prices of the houses which are equal to your home. It is advisable that you compare with properties based on the same location and size. This will show you the value of your home as well as will help you use the prices.

Internet help:

Make use of the internet to know the latest market value f your personal property likewise you can refer a website stating the selling price of cars of the same model and year.

Seek an appraisers help:

To get the accurate value of all your assets, you can hire an appraiser who can help you evaluate your assets. Hiring an appraiser is very useful if you have rare assets like collectibles, jewellery and so on.