Selling a home is pretty tough if you have no idea how much it’s worth. If you are looking to move houses, you want to make sure you are getting as much money as possible from your old home. That is where a property valuation comes in. Unless you want to start guessing the value of your home, a property valuation can give you the best indication of how much your property is worth.
Wondering how to get a property valuation? Find out everything you need to know about the process below!
What is a property valuation?
A property valuation is a process of getting an independent estimate of your property’s value. This is usually done by an estate agent who takes factors like location, size and condition into account before reaching an asking price. If you want to make your estimate as accurate as possible, you can get a few different valuations and work out the average.
The importance of a property valuation cannot be ignored! As well as for selling your property, a property valuation can also be a life-saver when it comes to working out a fair asking price for a home you want to buy. This also helps when it comes to your budgeting for buying a new home.
Unsure about how much a property valuation costs? A property valuation can cost anywhere from £150 to £1,000, though it is possible to find a free valuation if you shop around! Click here to find out your best options for a free property valuation.
How is a property valuation done?
During a property valuation, your estate agent or independent valuer views your home as if they are a potential buyer. Meeting you at an agreed time, they will give you an idea of how much other homes are selling for in the area. This will help to inform them about what price ballpark your home will be in.
To give your valuer enough time to reach an accurate estimate, property valuations usually take around 1 hour. But if it takes longer than this - be patient! The valuation involves an internal and external inspection of your property, including measurement of each room and the quality of the building. If a home has issues like damaged floorboards or rising damp, this could impact negatively on the asking price!
How to prepare for a property valuation?
As your valuer views your property through the eyes of a potential buyer, you need to make sure your home is in tip top shape. Would you want to pay big bucks for your home? If not, pick up some tips to ace your property valuation below!
- Do your research
- Tidy your home
- Arrange your home to maximise space
- Tidy up your garden
- Open your curtains
- Be realistic
Do your research
Don’t go into your property valuation unprepared. Come armed with any questions you have about the process, and check the market to find out what price similar properties are being sold in the area. Also, keep your valuer informed about any alterations or improvements that you have made to the home - these could improve the value! If you need help to prepare, just come back to this guide!
Tidy your home
It should go without saying, but make sure your home is spick-and-span! Leaving your home in a bad state is not the best way to impress a valuer. File away any clutter, vacuum your floors and keep your surfaces sparkly clean. At the same time, if you have any broken fixtures, you might want to consider fixing them before the day of your valuation. A bit of mess or a faulty appliance probably isn’t the end of the world, but it helps to put your home’s very best face on show.
Arrange your home to maximise space
You might have a spacious house, but arranging your furniture poorly can make a room seem much smaller than it is. On the day of your valuation, arrange your furniture and appliances in a way that maximises space. As space is a huge factor in property valuations, this could boost your asking price!
Need to work out how to make your apartment look bigger? Check out our guide on how to make small spaces bigger in your home!
Clean up your garden
The outside of your house is the first impression that a valuer gets from your property - make sure it’s a good one. Get your weed cutter out, give your lawn a fresh cut, trim your hedges, and your valuer will know that your home is well looked after. If you really want to make an impression, why not spruce up your garden area with some fresh flowers to catch the eye?
Open your curtains
No home can be appreciated in all its glory without superb lighting. Just imagine walking into a home to see rays of light beaming into each room! This kind of first impression stays with you. If you are selling your home, be sure to leave your curtains open to let in some natural light. Natural light is something that homebuyers and estate agents look for when identifying a dream home. Brightening up your surroundings does wonders for how your home looks!
You can only primp up your home so much. Be straightforward and honest with your valuer, and don’t exaggerate any aspects of your property - your valuer knows better than most how to give you an accurate estimate of how much your home is worth. If you are upfront with your valuer, they are more likely to look favourably upon your property!
Need help trying to sell a Shared Ownership home? Click here to find out everything you need about the process!Find a home with Peabody