If you’re looking to sell your home or keen to get a valuation on a property development project, where is the best place to go? There’s no need to pay out for expensive estate agent fees to get a good sense of how much a property is worth.
Check Property Sites
Property sites like Rightmove and Zoopla can give sellers a good idea of what similar properties in their area have recently sold for and how much people are currently asking for their homes. When considering what asking price to set, review properties with a comparable postcode, floor plan and level of presentation. Don’t focus solely on the asking price for current properties on the market; check out historical sale prices too. What people want often differs from what they get! And if you use a valuation on an agent’s website then be careful as these often give higher valuations to encourage you to contact the agent (after all they want to win your business to sell your house!)
Contact a House Buying Service
The House Buyer Bureau work remotely and can give you an honest valuation on what your house is worth for a quick, cash sale. The process is simple and involves you providing some information over the phone, followed by a remote valuation, and then an offer. It only takes a couple of days to get an offer, and once a sale fee is agreed, the funds can be in your account within seven days. The initial cash offer is completely free and will give you a good understanding of the value of your home for a cash purchase.
Consult the Land Registry
The Land Registry is the definitive guide on data relating to real sales of properties in England and Wales. Consult the UK House Price Index for average house prices by country and region. Bear in mind that the data is based on prices for a month or two prior.
Review Housing Market Forecasts
The property market is never static, so if you have your eye on selling a property, it’s a good idea to keep up to date with industry trends. House Price Crash is a fantastic source of up to the minute insights into the property market that can help sellers make sensible decisions.
Monitor Property Heat Maps
Property heat maps are an at-a-glance way to find out where property is moving fast and where it may be more difficult to sell. They can inform your advertising tactics and aid decisions regarding asking price.
What Factors Impact a Property Valuation?
There are a multitude of factors that may impact the recommended asking price for the property and its final sale price.
Location. A property in a city centre or other prime location will attract higher valuations.
State of Repair. A property that is ready to move into will generally attract higher offers than one that needs a considerable amount of work.
Supply and Demand. Demand will always outstrip supply for certain properties — be that due to the unique nature of the property or its location.
Interest Rates. When interest rates rise, so do mortgage repayments. This makes the property less valuable to consumers, who cannot afford inflated mortgage rates.
The Current Market. This is a difficult one for potential buyers and sellers to swallow as it is totally beyond their control. The political and economic outlook of the country will impact property valuations.
Energy Efficiency. There is an increasing focus in the property sector and amongst consumers on energy-efficient property. Some homebuyers may simply be keen to keep their outgoings low. The energy rating of a property can affect its salability.
Renovation Potential. Whether the buyer is a family or a property developer, most will want to leave their mark. A property with an unconverted loft or outbuilding will be more valuable and easy to sell than one without such amenities.
Get a Free Valuation Today
The House Buyer Bureau prides itself on offering a quick, easy and user-friendly valuation service. Start the process today by completing our 60-second online enquiry form to receive a call with a cash evaluation.