What's My House Worth and Getting a Home Valuation
How much is my house worth?
We all like to think we're armchair property enthusiasts because we've watched a bit of Location, Location, Location and Homes Under The Hammer!
But valuing property is not easy. There are lots of permutations that affect a valuation.
It is important to understand that when it comes to selling, a valuation is an estimate of where to start... it does not necessarily mean that is the price you will end of receiving for the sale of your property. What your house is worth and what someone is prepared to pay for it can be very different.
Try our instant valuation calculator to get a guide price for sale and estimate rental yield.
Thinking of selling your house?
Getting a valuation of your property is a good place to start when you come to sell. Research has shown that house prices can be affected by all sorts of issues both in our control and outside of our control; any valuation should be factoring in property considerations, location, and personal circumstances:
Examples of property factors
- Type of property (bungalow, terrace, semi-detached, detached etc)
- Number of bedrooms
- Number of bathrooms
- Condition of the property
- Whether it has a garden or not
Examples of location factors
- Number of properties for sale locally
- Recently achieved sale prices locally
- Demand to live in the area
- Amenities available locally
- Proximity to highly regarded schools and recreational facilities
- Demographic of the area; families, students, homeowners, tenants etc
Personal Factors
- Are you looking for a quick sell
- Are you relocating
- Have you got an on-going purchase
- Do you need a sale to finance an alternative investment
If you're serious consider inviting some estate agents round to provide their own expert valuation. Most agents will provide a no obligation valuation and also take the opportunity to outline their professional services, including fees and/or commission rates.
Not sure how to choose an estate agent? Here's some criteria for how to choose...
- Check out our guide to moving here,
- ask a friend to recommend someone they have used who was particularly good,
- look at online reviews of agents in your area,
- have a look around and see which agent's "For Sale" and "Sold" boards are up locally;
you should get a feel for who is successful in your area and will serve your interests best.
How can I increase the value of my property?
There is only so much you can do to add value to your property without picking it up and moving it to a more lucrative area.
And with house prices continuing to rise faster than earnings, and the cost of moving on the rise, more and more people have decided to stay put and upgrade their property, rather than move.
Convert your roof space
The simplest and most cost effective way to add value to your property is to install a loft room. Depending on how big the space is and how you intend to access it (drop down ladder or install a staircase) you may need a dormer to accommodate in which case you may need planning permission. Whether you add a bedroom, playroom, study, you'll definitely add market value
Add more bathrooms
Having more than one bathroom is a big win when it comes to increasing the value of your home. Think about installing an en-suite if you main bedroom Is big enough, or have a look under the stairs to see if you can squeeze in an additional toilet... it all helps when you think about the queue for the bathroom in the morning!
Add an extension
Inside/Outside living is increasingly popular and an extension that incorporates this is a good way of adding value to your home. Consider creating a space in which you can sit, relax with a good book, good company or a bottle of wine. You'll need to check planning permission before you get too carried away and make sure you have designs drawn up and fully approved before going ahead.
Tidy up your garden/outdoor space
Not everybody wants a garden, but at the very least most people want to be able to use the outdoor area they have to its full potential. If, when you look out of the window you are met with a Jumanji-esque mess then it's definitely worth investing in some time refreshing the space, or calling someone who can.
Update your kitchen
This can end up being expensive without adding a lot of value. Start small, replace a stained sink, or update your appliances. If you're going to go all out and start again then make sure you think about creating worktop space and be careful about going with something that is "in vogue"... it may well be "out of vogue" in the not too distant future leaving you with something expensive and dated.
Let there be light
Nobody likes a dark and dingy space... brighten up your home with floor to ceiling windows, being mindful of privacy. Conservatories are very popular provided they are integral to the layout of the property. Roof glazing bathes dark rooms with natural light and can really bring the outside inside.
Add more storage space
Creative use of the little nooks and crannies in the house can really help your property stand out. People crave storage space, and if you've already converted the loft and built an extension you're going to have to get creative with storage; concealed nooks in corridors; dead space either side of chimney breasts or at the end of corridors; space in the eaves; under stairs space; space beneath the bath tub or alongside cisterns; space above sinks; unused wall space for wall mounted cupboards.
Off-street parking
With many households now running 2 or more cars space is often at a premium when it comes to parking. If you can sacrifice a little bit of the area at the front to create parking space for one or more vehicles you may put your property ahead of others and jump to the top of the viewing list.
How can I achieve what I want to sell my house for?
Top Tips for getting the price you want
- Decor; have a look around and see if there is any paint work that could do with touching up or any DIY jobs that are half finished get finished off. If you're serious about selling beware of bright vivid colours that might be to your liking, but might not to you potential buyers. Present the property as one that is ready to move into, but could be personalised easily.
- Curb appeal; you shouldn't judge a book by its cover... but when it comes to property if your frontage needs some TLC then make sure it's done before you take your property to market.
- General outside maintenance; nobody wants to move into a house with a leaky outside tap, or a dilapidated garden shed. Make sure you fix any general maintenance requirements and tidy up the garden/ outdoor space.
- Clean up; cleanliness is next to godliness so goes the saying. You needn't bake cookies to make the house smell nice but prospective buyers will notice a nice clean, tidy and clutter-free house.
- Refresh your flooring; if you have old, stained or tatty carpets consider replacing them. Buyers seldom want to start ripping up carpets the moment they move in so a relatively inexpensive replacement could get you that dream price.
- Be honest with yourself; too many times we convince ourselves that something is worth more than it actually is. Have a look around and put yourself in the shoes of a would-be purchaser.
- Be honest with your estate agent; if you decide to sell through an estate agent then there's no point in
Things to avoid if you want to get your dream price
- Outgrowing your street
If houses in your street cost £250,000, don't build an enormous extension and ask £400,000. People looking for a £400,000 house won't want to live in a £250,000 street.
- D-I-Why?
Home improvements are popular but obvious or badly covered up DIY bodges raises alarm bells for buyers. It may not be worth the money you saved doing it yourself!
- Over-powering TV
How many times have you seen a TV take over the front room. There's no problem having one, maybe put it away when you're doing viewings.