How Much Is My House Worth In 2020?
Getting your home valued is one of the first steps you take in the selling process, that’s a given. Without a reliable valuation by an experienced industry professional, it would seem as if it becomes far more difficult to sell properties, and the vast majority of people will choose to pay for these to be done properly for them – but what about free property valuations? Today we’re going to be taking a look at what getting a free house valuation could mean for the overall selling of your property.
Before a Valuation, Should I Look into Getting a Pre-Valuation Report?
It makes sense to start at the very beginning, doesn’t it? Well before the valuation itself, it makes a lot of sense to get a pre-valuation report, but what are the premise of these, and are they worth it? Let’s take a look, shall we:
- A pre-valuation report will give you an in depth understanding of where your property lies in relation to the rest of the property market. In this respect, it could be argued that it puts you in an advantageous position when it comes to having your property valued by an estate agent.
- One thing to consider, however, is that these do cost – so if you’re trying to save on cash, it might not be a viable consideration for you.
- It’s a good thing to get if you can afford to, however, because it will give you a better understanding of the property market in its entirety – and more specifically in the area you’re selling in.
- It’ll enable you to view the competition in the area, in order to decipher where your own property stands in the scheme of things.
- Usually, a lot of information is kept entirely for professionals within the industry – but by paying for a pre-valuation report, you give yourself direct access to it.
- If you’re not yet decided on which estate agent you’re going to sell through, then a pre-valuation report could help you to make up your mind, as it will show you which estate agents in the area are the most active in sales and marketing.
- As we mentioned, it puts you in an advantageous position when meeting with estate agents. Finding the right agent is all about knowing your stuff and asking the relevant questions beforehand, and this report will educate you enough to enable you to do just that.
If that’s anything to go by, then if you can afford one, it would seem a pre-valuation report is no bad thing.
Why Get a Free Property Valuation?
So, you’ve gotten (or haven’t gotten) your pre-valuation report – that’s sorted. Now why should you look into getting a free property valuation?
- Although inarguably it’s not always the right answer, it can be helpful to those trying to cut back on spending when selling a property. In the end, you come out with the value of your property for free.
- Some of the online free valuation tools are actually incredibly savvy. So long as it’s through a reliable site, they will evaluate similar properties in the area and therefore be able to compare them to one another.
- So long as you know the true value of the property, you don’t have to worry about returns.
They are just a few of the reasons why a free property valuation might be a viable choice in certain circumstances.
Can I Ensure a Property Valuation Goes Well?
Now you know about the factors that help to determine the value of a property, here are some of the ways you can ensure the success of a property valuation:
- Making home improvements can, without a doubt, effect the value of a property for the better – so make sure they’re done before an agent comes to valuate your property. Even if you’re planning on having them done in the future, it’s not enough to simply say what you’re having done. You have to have the living, breathing proof there in order for it to make a difference to how they value your property.
- If you have made home improvements, be sure to make a list of what they are. A lot of the time, the most important rooms when it comes to upping the value of a property are kitchens and bathrooms – so if you’ve recently had these renovated, make sure you say so. Modernised kitchens and bathrooms can be the difference of thousands of pounds being added onto what your original valuation would have been, so if you’re considering renovation, make these functional spaces a priority.
- This is a simple one that anyone can commit to, and is surprisingly very effective. Literally, just tidy up! The better you present your home to the person conducting the valuation, the higher it’s going to appear in value. No one wants to move into a dirty or cluttered house, so make sure you’re presenting the kind of property an estate agent would be eager to sell, and that potential buyers would want to purchase.
- Finally, you could also discuss recent sales prices in the area with your valuer. Not only will this put you in a position of power, wherein they know that you’re knowledgeable and can’t be bought – but it will also help them to decipher a fair value for your property. Undervaluing a property is of course underselling yourself, and overvaluing a property can lead to losing money in the long run. This is because people don’t want to pay more than a property is worth – and if there are similar properties going for less, they’re far more likely to put offers in on them. The longer a property is on the market, the more stale its listing becomes, and therefore the less likely people are to buy it, and the more likely you are to have to decrease its price to below market value. This is why an accurate valuation in relation the current market is so important. This is where having a pre-valuation report can really come in to its own.
The Round Up:
Let’s conclude by rounding up everything we’ve discussed so far:
- Although a pre-valuation report does cost, it puts you in an advantageous position when it comes to talking with your agent, and helps you to better understand the current market and where your property sits in it.
- If you’re short on cash, it doesn’t hurt to get a free property valuation – so long as you’ve done your research on the market, and go through a well reputed online website.
- Yes, your property might be worth a certain amount – but there are many factors that can contribute to its overall valuation such as presentation, any modernisations and curb appeal.
- Yes, YOU can have a say in the success of your property valuation.
Now you’ve got the knowledge, it’s in your hands.
Further information on valuations: https://www.ricsfirms.com/