Despite interest rates rising, there is still interest from home hunters as demand continues to outweigh supply.

Although you can visit property portals like Zoopla and Rightmove to get an idea of how much your home is worth, it doesn’t compare to an accurate valuation from an estate agent. This is because we take into account a lot more than just the area, type of property and sold prices in the area.

How do we work out the value?

Several factors can affect the value of your property. Two houses next door to each other could be the same spec, size and location – but they can vary drastically in terms of what they are worth and how much interest they generate.

This can include:

The condition of the property – including the cosmetic appearance, the decor and the structural condition.

Any additional space such as an extension, garden room, loft or basement room.

Decor including flooring, decor, double glazing, insulation, and heating systems.

The EPC rating of the property.

Other elements will affect how we value your property. We would also look at the possibilities the property would present to a prospective buyer. Could it be improved? Is there room to extend? Can it be finished to a higher standard? These all affect the value of the home and how much interest it will generate. It also affects the type of buyer we will target your home towards.

As well as this, we look at the mortgage market and the likelihood of securing a mortgage on the home. We look at how the market is behaving and levels of interest and determine how the asking price will be affected.

Although you can get an online valuation from various estate agents, we believe that the best way to get an accurate valuation that will stand up to interest in the market is in-person. Often, if the price is incorrectly pitched, one of two things can happen. If it’s too low, the property will sell quickly, but you will be out of pocket. If it’s too high, it could sit on the market for some time, which means that you will receive lower offers as time goes on, as buyers have the impression that the property has been languishing on the market.

When we value your home, we will ask you why you want to sell, how quickly you want to sell, why you enjoy living there, and what your plans for the future are.  As local experts, we will also advise you as to whether you should do anything in the short or long term to increase the value of the property. This could include adding an extension, a sunroom, or an extra bathroom.

You only get one chance to get it right the first time. A home is as unique as the people who own them, so it’s essential to be aware of the variables that will affect the price and lead to a realistic price in a reasonable timeframe.

If you want to know how much your house is worth, get in touch with us at Caledonia Bureau.