In this blog post we discuss how to value your own home. Read on for our tips and advice.
How do I value my home?
Valuing property is not an exact science; but be led by the local market...
There is no science to a valuation and once you understand how an estate agent and professional valuer values your home you will be able to see how straightforward it is to value it yourself. The reality is that all they do is find out how much similar properties in the area have either recently sold for ie actually exchanged for. This is very different to how much they are on the market for. They do this either through the sites that you too can look up, or by phoning local estate agents. Not much science to it really. Nothing that keeping a close eye on the local market and seeing how much other properties are selling for won't tell you.
The two ways to value is to find out how much a home like yours recently sold for and/or look at what you can buy at the level you think you should be selling for - ie if you think your 2 bedroom flat should be worth £130,000 but there are lots of 3 bedroom houses at a similar level - you are unlikely to achieve your price.