When selling your home, knowing its true value is one of the most important information you’ll need. Whether you’re looking for an accurate house valuation to set the right asking price or simply want to know how much your property is worth, getting an accurate property valuation can make all the difference.
Here’s your guide to choosing the right valuation method and getting an accurate property valuation.
Related: Seeing the right asking price: a guide for home sellers
Choosing the right valuation method
An accurate house valuation is key to ensuring you don’t overprice or underprice your property. While online estimates can provide a helpful starting point, they may not always capture the full picture.
Here are the best ways to find your property’s worth:
Online property valuation tools: Online house valuation tools can provide a quick estimate based on available data, such as recent sales in your area and public property records. Many estate agencies offer free online valuation tools that give you an initial idea of your home’s worth. Keep in mind that these tools rely on automated data, so for a more accurate valuation, speaking with an estate agent after receiving the online report is recommended.
Request an in-person valuation from an estate agent: A professional estate agent can give you a thorough, accurate house valuation based on their knowledge of the local market and their experience in assessing properties. They’ll consider factors such as your property’s size, condition, location, and comparable recent sales in the area. This method is typically the most reliable way to get an accurate house value.
Consider multiple valuations for comparison: Rather than relying on a single valuation, it’s worth getting opinions from several estate agents or combining an estate agent’s valuation with an independent appraiser’s assessment. Different professionals may have varying perspectives based on their experience and market knowledge, giving you a more comprehensive understanding of your property’s true value.
Related: What is comparable evidence when selling a home?
Start by consulting with professional estate agents, exploring online tools for a rough estimate, and considering the option of hiring an independent appraiser. While online house valuation tools can provide an initial idea, a professional agent or appraiser will give you a much more accurate understanding of your home’s true worth.
Book a free professional home valuation with Parkers
How to find out exactly what your house is worth
Knowing exactly what your house is worth is essential before putting it on the market. Here’s how to get a precise valuation:
Factor in recent sales: Research similar properties in your area that have recently sold. This will give you an idea of what buyers are willing to pay for homes like yours. Many estate agents can provide a comparative market analysis (CMA) that includes this information, helping you determine an appropriate asking price.
Don’t overlook the finer details: The value of your home isn’t just determined by its size and location. Factors like the condition of your property, the layout, and any improvements or renovations you’ve made can all impact its valuation. Make sure to highlight these features when getting your valuation so they’re properly considered.
Consider the local market conditions: A local estate agent will have a deep understanding of the market conditions in your area. They’ll know whether the market is currently favouring sellers or buyers and how this may affect your home’s valuation. Property values can fluctuate depending on local demand, and an experienced agent can factor this into their assessment.
Related: Pricing your home right: A comprehensive market guide
How to get an accurate home appraisal
A home appraisal differs slightly from a property valuation in that it’s typically done by an independent appraiser rather than a real estate agent. Here’s how to ensure you get an accurate home appraisal:
Hire a certified appraiser: Choose a certified appraiser who has experience in your local area. They’ll conduct a detailed inspection of your property, considering factors like structural condition, layout, and recent upgrades.
Prepare your home: Make sure your home is in good condition before the appraisal. Clean up, make any small repairs, and highlight any recent improvements or renovations. The better condition your home is in, the higher its appraised value could be.
Provide relevant information: Share any documentation regarding your home with the appraiser, including details about upgrades, renovations, and maintenance. This will help them make a more informed assessment.
Making the valuation work for you
An accurate house valuation sets the foundation for your entire selling journey. It gives you the confidence to price your property competitively, helps you understand your home’s position in the current market, and ensures you’re making informed decisions every step of the way. While online tools offer a useful starting point, nothing beats the insight of a local expert who knows your area inside out and can spot the unique features that add value to your home.
Contact your local Parkers branch today for your free, no-obligation valuation and let our experienced team guide you forward.
