Before you start to market your own home or approach an estate agent, you should get a good sense of how much your property is worth. Getting a feel for the price is not too difficult.... many of these tips apply to letting your property as well as selling it!
The first stop here is the other houses in your street. Check on sites like www.nethouseprices.com or Zoopla by typing in a postcode or street name in order to see records of past sales in your area. For houses similar to your own, more recent sales should give you an idea of what to expect.
Irritatingly, most of these sites list just prices and whether each sale was a flat or a house. And comparing your four-bedroomed semi to a two-bedroomed terraced is a great way to undervalue your property! But don’t despair, just search price comparison reports on RightMove and other sites, or even have a look at Google Maps. It may take a little of digging to get them, but even a few archived records from your street could ultimately be worth the bother. Other websites to look at are:
You should also research regional price trends to get a better view of how many properties around you are changing hands and what they’re going for. This will help show how ‘in demand’ your area is and what most buyers are expecting to pay.
Several websites offer free valuations that can give you a rough estimate of your property price. However, it’s not a good idea to rely on these completely, as they can often leave out important details that would otherwise affect values. For a general indicator, try the price calculator at www.propertypriceadvice.co.uk, though beware - reviews say that it tends to overvalue properties.
Remember the Nationwide house price index? It also contains a price calculator. If you enter your house’s price when you first bought it, it will factor in market changes and come up with an approximate current value. It gives a good idea of how prices will have changed over time. However, what it is not programmed to do is take into account home improvements or exact locations, meaning results are best taken with a pinch of salt.
These are only suggestions: there are many sites to look at that will give you approximate valuations. For example, you could try Zoopla for a very wide pricing guide for your area.
When valuing any house, location is always the biggest concern. Look at:
Structure should also be at the top of the list:
A reasonable price will encourage more interest than an optimistically high one. Attempt to cover all the different aspects of your house in your valuation- ensure you haven’t left any skeletons in the closet! Always remember that you will need to justify your price in the near future and make sure that everything about your house backs you up.