Have you decided to sell your home? Now you need to get an accurate valuation or the property and determine the skin price! It’s an important step of the process – getting it wrong could sell the property for less, or not sell at all. Here’s our handy guide on how to get an accurate valuation on your home when selling.
Find out how much homes similar to yours have sold for
You can search how much homes have sold for online – simply search Google and a number of websites will pop up which will help you do that! It can take a few months for properties to appear, but you’ll get a good idea of the price range.
You can also find out what value your house sold for previously. Nationwide’s House Price Calculator takes into consideration when you purchased your home and will tell you how much it’s worth now. One thing to look out for is this tool doesn’t take into consideration any additions or improvements you have done to the property – it could be of even more value!
Understand the property market and what’s happening right now
Even simply snooping on Houso and searching for properties similar to yours will help you get an idea of property prices – but we can do better than that: you can use the UK House Price Index from The Land Registry which shows recent selling prices both in your local area and nationally!
Look into your local area
The location of your home is a big factor of how much your property will be worth. Living in a desirable location such as the countryside with plenty of space around, local amenities, a good school, and transport links will all help bump up the price of your home. However the risk of flooding, air pollution, and locations near landfill sites will lower the price.
The Environment Agency has detailed information on areas which include flooding, air pollution, and other information which will help you in your process of valuation.
Getting a valuation with an estate agent
Most estate agents will not conduct a detailed home valuation but rather indicate and suggest a price for your home. However estate agents are in a great position to do so as they know the area, they know the current market, and they know the demand.
Some of the larger estate agents will work with valuers who work to a code set down by the Royal Institution of Chartered Surveyors (RICS) which is is based on the following:
- 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
An estate agent valuation will not cost you a penny but the agent will be trying to win your business so we suggest getting 3 valuations from different agents, as well as doing some research yourself.
You want to ensure your property is sold for a good price, but if it’s over priced it may be difficult to sell and you’ll have to keep reducing it to attract the right buyer.