The most important step in selling your home is understanding the property’s current market value. Many factors affect a property’s valuation, so you need to consider conducting a professional sales valuation that will give you all the information you need regarding the latest market conditions and areas affecting your property value today.
A property valuation, also known as a market appraisal, will provide a guide price for putting the property on the market. As well as giving an indication of the potential sales value, it will show what features are essential or desirable to potential buyers in your area.
Performing your own research on how to conduct a property valuation can be a smart way to prepare yourself before you ask an estate agent to carry out a sales valuation for you. You might be interested in knowing the approximate value of your property, and you can find out by searching for average sold prices in postcodes near your home. You can also run a property search and see what other sellers are valuing their property at.
Remember, each property is unique and different in its own way. Researching other properties will only give you a rough estimate of property values in the area. A full sales valuation of your own property will give you a more accurate valuation based on the condition of your home, storage spaces, bedrooms and location.
What is the process of estimating the price of a house?
There are a number of factors that estate agents consider when valuing a house in accordance with their knowledge of the market in order to determine the property’s value:
- Demand from the market
- Dimensions and aspects of a property
- Whether the property is old or new
- Property features and fixtures
- Condition and construction of the property
- Location and amenities in the surrounding area
- Service charges, tenures, tenancies, or any other liabilities
What’s involved in a house valuation appointment?
You will receive a value estimate from a valuer by having them visit your home. This will give them an accurate impression of how it is currently situated, its layout, and any unique characteristics of your home. Then, they will provide you with a detailed estimate of what your property will sell for in the current market conditions.
A number of estate agents will offer you the option of having a ‘desktop’ valuation carried out by them. Despite the fact that they will not visit your property, they will email you an estimate of the property’s expected market value based on the description you give them. However, this estimate is not as accurate as obtained by a valuer’s onsite visit.
In order to get the most accurate valuation of your house, a valuer from a reputable company will have to actually visit your property in order to conduct a thorough walk-through of your property. This will result in a much more accurate estimate of the property’s value for sale.
What should I do in preparation for my house valuation appointment?
In order to make sure that your valuation appointment goes as smoothly as possible, it is helpful to prepare a little bit before the appointment. There is no doubt that a simple spring clean can make a real difference to the property and allow the valuer to see the full extent of the property without having any clutter or excess items lying around.
The exterior of the house shouldn’t be forgotten: this is often overlooked, and, as it is said, you only get one shot at making a good first impression. When the valuer conducts a walk-around of the property, it is worthwhile to let them know of any improvements and alterations that you have made since you purchased the property, as well as any current ongoing improvement projects that you hope to complete before you consider selling your home.
Interested in a sales valuation for your property?
Arrange a property valuation by calling Open House on 0116 243 7938. Whether you’re thinking of selling your home or simply want to know its current value, this simple service is perfect for you. We have a team of estate agents who are available and happy to help you with any questions or issues regarding your property. Alternatively, fill in our property valuation form, and we’ll get in touch shortly.