How to value your home
Once you have decided to sell your property, you will need to get an accurate valuation of your home in order to determine the potential sale price. So how do you do it?
What your property is valued at matters. Get it wrong and it might sell for less than the property is worth. Or, on the flipside, it might not sell at all.
So how should you go about getting a valuation that accurately reflects the value of your home?
Estate agent valuations
Contrary to popular belief, most estate agents do not routinely conduct a detailed home valuation. They indicate, or suggest, an appropriate sale or rental price for the marketing of your home.
That said, the very nature of what estate agents do means often puts them in the best position to gauge how much your property can, or should, sell for in the current market. They will factor in local demand and supply forces and the sale or rental price of comparable properties in the area.
And some larger estate agents will employ experienced valuers who work to a code set down by the Royal Institution of Chartered Surveyors (RICS). The code is based on the following criteria:
- Age and type of property
- Accommodation available
- Fixtures and features
- Construction and state of repair
- Position within the locality and surrounding amenities
- Tenure, tenancies, services charges or any other liabilities
Check what kind of valuation your local estate agents are able to provide and get a more detailed one if you feel it's required.
A valuation won't cost you but bear in mind this is because the estate agent is trying to win your business. That's why three separate valuations are recommended.
Remember that, while you will want to maximise the sale value of your property, if it's over-priced it may be difficult to sell. This is definitely something to consider if you are in a hurry to move.
It's also a good idea to search for other property for sale in your area as a comparison. .
Contact local agents to get a market valuation for your home now.