There are hundreds of estate agents and property search engines that will offer you an online valuation service. Unfortunately there really is no simple tool that can give you an accurate prediction of what your home is worth. The reasons for this are complex and varied and are relative to the five important factors that influence the value of your property, namely:
Prevailing Market Prices
Of these five factors, two may be influenced directly by the seller; the condition and the timing. In reality, if you want to sell your home now, it is only the condition of your home which can directly affect the value.
In our experience, online valuation tools can be very damaging to the expectations of some buyers who believe that their home is worth significantly more than it actually is or who seriously under price their home based on the results of these overly simplified applications. The result can be a home that languishes on the market at the wrong price or a buyer who misses out on the real potential of their property.
Online valuation tools use some very basic sources of information to create an approximation of a property’s value; these are often based on aged data secured from the Land Registry, asking prices of current homes (not actual sold prices), the number of bedrooms and property style. In some instances, these tools can get it right but we have first hand experience of where these ‘helpful’ aids have been off the mark by as much as 10% and, in a few instances, to the sum of £100,000+.
We’d love to offer you a quick tool here which gives you a fast appraisal of your home but there is no getting around the fact that to do so could be very misleading.
When it comes to getting an accurate property valuation there is no substitute for an experienced surveyor assessing your home. Always trust a trained professional; you wouldn’t expect to be able to rely on an online medical diagnosis over the opinion of your GP.
How We Value Properties
At Property Assistant we create all our property valuations based on a unique assessment of your home. We take into account all of the basic information, including:
Age and type of property
Fixtures and features
Construction and condition of property
Position of the property within the surrounding area including any amenities, schools and services of note
Tenure, tenancies, service charges and other liabilities on your home
Once we’ve obtained as much information about the physical and financial attributes we spend time sourcing additional material which might affect the price of your property. This can include planned developments, changes in school catchment areas or future proposals for your area.
A comparison of other properties on the market as well as those that have been recently sold will help us to get to a realistic figure. The critical element of this is to assess prices that were achieved and not the value a property is marketed at. This kind of information is only available from the Land Registry. We also look at how long properties took to achieve their sale price and the history of the marketing figure. This gives us an insight into how long a property remained unsold and how the price may have been influenced by necessity rather than true value.
Once we’ve assessed all of this, we can then provide you with an accurate property valuation that reflects what your home is worth. Depending on your circumstances, we will discuss your options for what price you should consider marketing at.
For more information on property valuations or to book an appointment to get your home valued, please feel free to contact us without obligation on 0118 912 2370 or use the form below.
What our clients say …
“We used Property Assistant UK in September 2015 when selling a property and looking for a new home for our family. Dan and Julie were professional, supportive and went above and beyond! The after sales care we received was also a very big advantage for us. I have gone on to recommend them at every opportunity and will continue to in the future with anything property related. We wouldn’t use anyone else. Thank you!!”
Jo, David and James
“I used Property Assistant UK after I had used several other Estate Agents in selling my grade II listed cottage, as it had been on the market for nearly a year with very little interest. I liked their fresh and innovative way of marketing my property.Dan and Julie were fantastic, really took the time to get to know the house and I’m pleased to say that within 4 weeks of it being on the market Property Assistant UK SOLD IT! I genuinely believe it wouldn’t have happened had I stayed with one of the other agents. They come highly recommended. Great Work Team!”
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