You can learn what your home is worth without leaving the sofa.

A home value estimate isn't just for people who want to list a home for sale. Knowing the value of your home helps put you in a position of control over your finances in many ways, from using equity for home improvements to determining the amount of insurance coverage that you need.

There's never a bad time to check into the value of your home. And with eppraisal, it's fast and easy to prepare for tomorrow. Here are a few reasons why it's a smart idea:

1. Understand Your Total Net Worth

When you know what your home is worth, you'll have a better understanding of your total net worth. Investopedia explains that a clear picture of your net worth is an important indicator of your overall financial health.

When you owe more than you own, you're at a disadvantage. And when you own more than you owe, the opposite is true. Although most people owe more than they own at some point, seeing the numbers trend in the opposite direction shows that you're gaining financial ground. A higher net worth gives you more financial options.

2. Obtain Proper Insurance Coverage

Your insurance company will ask the value of your home before giving you a tentative quote, and it will confirm those numbers, often with the local tax assessor's office, before a policy is final. This is important because it helps give you the peace of mind of knowing that your home should be replaced if the worst should happen.

However, other factors may affect how much insurance you need. The value of your home tells you what your home is worth as it stands right now. But Money suggests that you'll also need to consider the local market for newly built properties. If construction costs are higher for a similar dwelling, the difference between your home's value and the local market replacement costs should be factored into your policy.

The amount you could save be refinancing is like money in the bank.

3. Refinance Your Home

Maybe the interest rates weren't all that great when you bought your home, or maybe your credit has improved enough to merit a better one. Or maybe you're interested in a cash-out refinance that lets you take advantage of the equity in your home. There are lots of reasons to refinance.

A home value estimate can help you decide whether it's possible to refinance your home. If your home has increased in value faster than you imagined, or if you've paid on your mortgage for many years, you might have a considerable amount of equity. But if not, you can save yourself some paperwork and wait a little longer for a better opportunity.

4. Decide Whether Improvements are Worth It

Most people think about home improvements. Even the owners of the nicest home in your neighborhood probably think about updating a bathroom, installing new appliances, or building some new feature in the backyard.

With a home value estimate, you can decide whether an investment will pay off in the long run. For example, a new swimming pool might sound great. But if your home is already priced near the top in your community, you might not add to its value. But if most homes around you have 4 bedrooms and you have 3, adding on can help you stay in line with the neighborhood.

The equity in your home could be a source of cash to use, repay, and then use again.

5. Get a Home Equity Line of Credit

A Home Equity Line of Credit, also known as a HELOC, lets you tap into your home's equity without refinancing or taking out a lump sum loan. The credit line amount is predetermined by your lender, and you can use as little or as much of it at a time as you want. Payments on a HELOC depend on how much of the credit line you've used.

As with a cash-out refinance, a HELOC is determined by the amount of equity in your home. With a home value estimate, you'll have a good idea of whether there's enough equity to give you a line of credit for home repairs or other financial needs.

Your home is probably the biggest investment you've got. And for many people, it's also a powerful financial tool. But the only way to use it to its full potential is by understanding what it's really worth.

Click here for a free property valuation today.