The Ultimate Guide To A Property Valuation

The Ultimate Guide To A Property Valuation

 

If you are thinking of selling your home, the first thing that you will want to learn is how much your current property is worth. Working out your current properties worth is key to ensuring you are accurate with your affordability and calculating your budget for moving. 

 

Having a property valuation is a vital step in selling your home, because if you don’t know the value of your current property you may be marketing the property too low or too high. This will then prove to be a struggle when it comes to achieving your goals. 

 

If you are unsure about what is involved in a property valuation, Castles Estate Agents are here to help. We have created the ultimate guide to help you learn everything you need to know about what a property valuation is and how it will help you sell your home for the right price.  

What Is A Property Valuation? 

A property valuation is a process where an estate agent gives you an accurate guide of the worth of your home. This price is usually based on a few different factors which may include location, size, condition, the local market, recent successes and more. A valuation put simply, is an opportunity for you to get an idea of what a fair asking price is for your current property. 

 

A property valuation will help you decide a fair asking price based on the current value of your home. We suggest getting more than one valuation on your home to give you a true understanding of how much your home is really worth. Once you have an asking price for your home you will then be able to work out what you will be able to afford during your moving period. 

What Happens During My Property Valuation

First things first, you will meet your estate agent and they will provide you with information on recently sold properties in your area, as well as the current prices of properties already on the market. This information will help the estate agent to inform you of the price that they expect the property to receive. 

 

Property Valuations usually take up to at least an hour depending on the size of the home. The estate agent will need time to assess your home thoroughly, meaning it could take longer. On the other hand, if you have had a property valuation in the past, the estate agent might have to simply look at their records to find the valuation which could take less time. 

 

The value of your home is calculated through many factors including;

 

  • Age & condition

  • Location 

  • Layout

  • Specialised features

  • The local market

 

When your valuation is over you should understand the recommended market price from each estate agent you choose to use and then further use this information to decide which price would be the best to market your property at. 

How Should I Prepare For My Property Valuation? 

During a valuation, estate agents will always focus on the properties details, however, it doesn’t hurt to have a quick spring clean to highlight your properties key features. Decluttering your home will help maximise the space available in your home which is attractive to potential homebuyers. 

 

Before you have your valuation it is important to think about all of the things you would like to ask the estate agent. Thinking about this beforehand will allow you not to forget anything important after the valuation is over and having questions prepared might spark inspiration for new ones on the day. 

Castles Estate Agents 

Castles Estate Agents offer free property valuations on our website today. At Castles, you can expect a comprehensive market appraisal, a professional and honest service, honest market appraisal and a first-class estate agent who is dedicated to helping you get the best price for your property. For more information on our property valuations please contact us today on 01793 611 677.