How much is my house worth? It is an important question and one that is critical to the process of selling. How do you find out – and what happens if you do not like the answer?
What’s My House Worth UK: Finding Your Answer
When you need to find out what your house is worth, there are a few good methods to try:
Estate Agents: This is a very accurate way to arrive at a value for your home. Contact two to three estate agents and request a valuation. They will often do this free of charge as a way to get a look at your property and try to sell you their services. It’s a fast-paced business, and good estate agents are always on the lookout for potential clients and contacts. That said, you are under no obligation to enter into an agreement. At this point, tell them you simply want a valuation and to explore your options. The estate agent can look at the details of the property itself, as well as factor in market and location information, to arrive at a good number.
Valuation Surveyor: This is another effective way to answer your question in terms of your home’s worth. These professionals are skilled in assessing properties, and they will deliver to you an unbiased opinion as to its value on the market. Be aware that this can cost from £400 – £1000 depending on the size of your home.
Online Valuation Tools: This method has the benefit of being both ultra-convenient and free. There are several great tools available, including Zoopla, Good move, Owner, OntheMarket.com and Yopa. In most cases, you simply enter your postcode and the site provides a list of properties that have sold in that area. Now, it is not as accurate as an estate agent or professional valuation because you need to take into account all of the other factors besides location that plays a part in value (e.g. age of home, size, condition etc.). But it will give you a good start.
What If Your Value Is Not as High As You Need to Sell?
Now an important follow-up question: If your home’s value is not at a level you feel comfortable with if you are going to sell, what can you do? Understandably, you want a sale to result in a tidy profit for you.
Fix It Up: You can take steps to increase the value substantially by addressing issues uncovered by a valuation (or your own observation). This can range from installing new plumbing to replacing the roof. And this can range from several thousands of pounds to tens of thousands. If you have the resources, and/or the time and know-how to do the work yourself, you may be able to boost value by enough to see a return on your investment – and hopefully beyond – when it comes to selling. This isn’t fool proof, though, as most projects do not pay for themselves and many only allow you to recoup a portion of your money.
Do Some Cosmetic Work: Alternatively, you can do some more simple, cost-effective tasks to make your home more appealing to potential buyers. A fresh coat of neutral paint can work wonders! From refreshing rooms to changing light and plumbing fixtures to swapping out cabinetry hardware, little steps can make a difference.
Boost Kerb Appeal: On a similar note, taking care of the exterior of your home can make it stand out to potential buyers. Cut the grass, trim the hedges, weed the garden, install some inexpensive lighting and container plants, give the front door a new coat of paint, pressure washes the walk, clean the windows till they sparkle etc. Great kerb appeal can increase perceived value by 5 – 11% and help your house sell faster.
Seek an Alternative Method of Selling: You may not have the time nor the resources to tackle major improvement projects or even smaller weekend-type jobs. If you need to move on a faster timeline and you need to minimise costs, think about an alternative method of selling. For example, a reputable cash house buyer will purchase your home in as-is condition, meaning you do not have to go to the expense or hassle of improvements. Further, they usually offer 80 – 85% of total market value, while freeing you from myriad fees (e.g. estate agent, solicitor, surveyor, repairs and improvements etc.).
Which of these options are right for you?