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28th April, 2017

Secrets of success: How much is my house worth? Everything you should know about property valuations

Secrets of success: How much is my house worth? Everything you should know about property valuations

Having your house valued is one of the most important stages of preparing to sell your property. We asked our agents what they take into consideration, if there’s anything unusual to consider and how a homeowner should prepare for a property valuation.

Here are our top tips from our agents around the world.

Richard Carpenter, Fine & Country St Neots

“Every valuer works differently. I utilise three methods when valuing. Firstly, comparable homes which have sold. This can be tricky with the unique homes we sell, but it is a good starting point. Comparing homes and their sale prices while also consider market changes. Obviously, additional value can be added for the quality of the fixtures and fittings, layout, views, number of bedrooms etc. Secondly, square footage is important. We hold information on the price per square foot for different areas and types of home, although scientific it only offers a rough gage. Lastly, my gut, I appreciate it seems a little basic but after many years of visiting homes six days a week you develops a gut feeling... gut and experience are very similar things. A good agent should share all their research, methods and findings with you to ensure they have faith in your valuation.

“In regards to how a homeowner should prepare for a valuation. Although agents can see through the clutter of daily life. I would personally present my home at its best. If I can see a home as a potential buyer then it would be a great help. Research and preparation are key.”

Little Gransden, Cambridgeshire

Nigel Brisset, Fine & Country Mayfair

“There are a number of variables that an Estate Agent or Property Valuer will take into consideration. In the first instance, a valuer will take a careful look at the location of the property. This might also include postcode. Due to where it is located, some properties are valued lower than others which may be the crime rate, amenities/transport links to the property. Whereas some properties are valued higher because they are in school catchment areas. This will vary. Once the valuer arrives at the property, they will look for convenient car parking, access to the entrance, and the general safety.

“Once a valuer is inside the property they will consider the size of each room and square footage for the whole property. The layout of the property is also very important. Most buyers don’t want to walk from a bedroom into a lounge, or a kitchen into a bathroom. Sellers should always make an effort to present the property in its best light. They should avoid clutter and ensure that that they do not obstruct any natural light entering the property. All rooms should be well lit and aired. It is also advisable to ensure the property is clean and presentable.

“In some cases, sellers may find that their properties are under valued if they are not well presented. Prior to viewing the property, most experienced valuers will do their research on the property. They would have a clear idea as to how much properties in the area have sold for, and they would have an idea about the value of the property.”

Ealing, London

Charles Eddlestone, Fine & Country Fulham

“I have been valuing properties for more than a decade. My advise would be that it is essentially the little things that matter the most. Every estate agent will come and value the property based on the internal area, how many bedrooms it has, what the property has sold for and indicative sold prices in the area. However, changing light fittings from old light bulbs to feature lights and making a feature out of the lighting can make a huge difference. Creating a home with a blend of textures such as rugs on wooden floors, throws on a sofa and brighter coloured cushions. In the kitchen a cost effective way to improve it is to replace the doors or re-paint and replace the door knobs. Taking care of your front doors and windows are really important. They are after all the first impression.”

Cranbury Road, Fulham, £925,000

Charlotte Gander, Fine & Country Monmouth

“If people present their home well for you taking a pride with the importance of a valuation, they will present it well for viewers which is very important. First impressions count.”

Hill Farm Close, Monmouthshrie

Karina Karlsen Norris , Fine & Country Mijas

“When doing a property valuation you should take into consideration the following: Age of the property, accommodation available, rental income, fixtures and features but quality of construction, year of construction, position within the location and surroundings, square meters build, possibility of extensions and state of the Property,” says Karina.

Reserva Del Higueron,

Chris Scott, Fine & Country Diss & Harleston

“The main criteria regarding a house for appraisal is evidence of previous sales and market prices . This must be backed up with documentary evidence and the time on market must be taken into account. The evidence must be presented to the potential client so they can see for themselves how the price for their home is reached. The main things regarding the property themselves is the location, accommodation and condition,” explains Chris.

Algar Road, Bressingham

Stephen Binder, Fine & Country Lincoln

“When valuing a property, you need to take into consideration the size of accommodation, garden and orientation, location, style, condition, maintenance, availability of amenities, proximity of good schools, communications, broadband. Do we have purchasers on our books for this property and if so what is their budget? Local sales evidence and any negative factors. E.g. localised development and noise pollution.

“I also consider the house feel of a property. Does it have an X-factor? How strong is it’s visual appeal? Does it carry a historic building listing? What is the vendors timescale?

The process for property valuations is: Sales of all commodities however, are governed by supply and demand. Property is no different so understanding these factors is crucial to any accurate valuation

A homeowner should prepare for a valuation by having a clear idea of plans/intentions/timescales and make available any relevant documentation. For example guarantees and planning permissions.

Aswardby, Lincolnshire

To request a property valuation for your property please click here: https://www.fineandcountry.com/uk/valuation-request

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