What’s my house worth?
It’s generally the first question that springs to mind when you’re considering selling a property, and it’s an important consideration when making the decision to sell. You could have a google, look at what similar properties in your area are selling for, but the best, most impartial and informed way to find out, is to get a valuation.
Go on… what’s a house valuation?
The valuation will inform the optimum asking price to go to market with. A house is only ever worth what someone is prepared to pay for it, at that point in time. The housing market is very susceptible to economic change and the balance between supply and demand affects value. However, there are three key elements that dictate a property’s value. These are the size of the house, the house’s location and its condition.
Who can help me obtain a realistic selling price?
Estate agents will value your home for you, they have up to date information at their fingertips, to establish what properties like yours, in your area, are selling for. A local valuer is best placed to give you qualitative information. We’re not just searching a database and applying a formula. A local agent has had informed interactions with local buyers and sellers. They’ve met them, heard their logic and seen their reactions to property prices. A local agent knows what house prices buyers are prepared to pay. They know what is happening in the local housing market, right now.
What happens at a valuation?
When Debra Timmis arrange a valuation, the work starts even before we make a visit. We review house listings of properties of similar proportions and locations to yours, to make real comparisons. We will talk to you about local properties that have sold, and if they are achieving their valuations, and reflect on any differences between the “For sale” price, and the actual achieved price. Then, we’ll come to visit, safely!
How do we prepare for a house valuation?
It’s good idea to be prepared for the valuation. When the valuer visits, they’re looking through the eyes of a prospective buyer and taking in the size, location and condition of your property. You can’t do much to change where your house is, or the size of the property, but you can assess and address the condition of the property.
Get involved, get informed
Be sure to get your questions ready. A good valuation involves finding out as much as you can. Ask your agent how many properties have sold like this recently. How many are currently on the market? This will help to start a conversation to determine the current situation with local housing supply and demand. Establishing the timeframe that similar properties took to sell, is also an important factor.
How do we maximise the value of our house?
Take a look at our “Top tips when selling your home” blog, and do as much as you can to increase kerb appeal, maintain the outside space, kitchens, bathrooms, clutter and cleanliness are critical to make a great first impression. If buyers see problems, they automatically devalue the property and lower any potential offer. If you know building works are required, get estimations for repair, and take these into account in the asking price. Be proactive and honest in communicating that with viewers. Often low valuations can attract quicker sales, with higher valuations applying if properties like yours are highly sought after, indicated by quick sales going for, or above the asking price. Be sure to check these points with the valuer.
Choose the best most experienced agent, for the most realistic valuation
Consider who has independent, in-depth experience of the housing market in your locality. Do they have personal experience of vendors and buyers, that are relevant, right now? Here at Debra Timmis we have decades of knowledge and know-how to help you market at the right value. This will give you the best chance of marketing a property at the price and timeframe, to achieve the sale. We take pride in our personal service and getting to understand your needs.
Contact the Debra Timmis team, to get your free, covid safe valuation underway.
