Property Valuations
To help you value your own property we have put together a few basic steps as guidance.
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Find out much similar properties have sold for in your area in recent months. Use a specialist website such as www.houseprices.co.uk or www.hometrack.com, they provide a free online search and instant valuation for a small fee.
You can also use other websites such as Nationwide BS as they have a free house price calculator that you can use to add house price inflation since you bought the house to give an estimate of its likely value.
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Compare your property to other similar properties on the market now (price, location, presentation and condition), this will give you an idea of your guide price for your property.
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If you genuinely feel that your property is worth more than others you've seen then you need to be able to justify the reasons for its higher price so be prepared at viewings.
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Remember that the asking price of a property is not necessarily the sale price. Always set your asking price slightly higher, so that you have room to maneuver when negotiating. If you set your price too low, you could end up doing yourself out of thousands of pounds, alternatively don't be tempted to set it too high either as this could put off potential buyers.
If you don't feel confident valuing your own property especially if your property is unique and comparables are not readily available you may want to hire a professional, who you can find through the Royal Institute of Chartered Surveyors - see www.ricsfirms.com. If you have read our sellers guide you will know that estate agents valuations are at best an educated guess based on their knowledge of the market.
By using the steps above to value your own property 3up2down accepts no responsibility, for errors that you may make. If you are in any doubt as the realistic selling price for your home you should instruct a professional surveyor.
