If ever we find a question that fills our inbox on a regular basis, that is definitely number 1
How Much is my property worth. In many ways its a variable that has no definite answer. In fact the simple but correct answer is quite annoying.
“Your property is worth whatever someone is willing to pay for it”
Although that isnt what any person wants to hear, it is the truth of the matter, as people will only pay what its worth to them and depending on the market, it varies rapidly.
Pricing the property
I would suggest the best way to have a sensible idea of its worth on the current market is to follow these 3 steps
- Invite 3 local estate agents round to provide a free estimate. They will have local knowledge and records of what the selling price is for similar properties. They may well of used some online charts and historical records to also help provide a price. In addition they can add further adjustment after seeing the quality of the the property in presentation and additonal benefits including the finish of decoration.
- Look online for similar properties amongst the major property portals including RightMove, Findaproperty and Zoopla. This will give you an idea of what others are asking. Remeber asking price isnt always what it sells for, so look at what similar properties sold for.
- Finaly Zoopla has a great historical database. This is used to provide a list of what they estimate the property to be worth taking into account previous selling prices of the property. While this is very helpful, it really is only a guide and it has no human element, or awareness of additional DIY made on the property.
Combine these 3 areas and you will certainly have a clear idea of what your property is liekly to sell for. Now do you chance asking for a little more and hae less viewings or do you get serious competion but releasing your property onto the market with a realistic price that will sell?
Only you can make that decision.
I was recently contacted regarding a property on Tepilo – Elmhurst Coppice, Muxton, Shropshire, TF2. A Detached House, 4 Bedrooms, 3 Bathrooms, 4 Receptions, Private Garden on for £375,000
Is it worth it? Well only following the above 3 step guide would anyone really know – the beauty is it allows for local knowledge, which is why estate agents will always have a job.
Add this property tool to your blog or web page
Discover your house value using our UK House Price Valuations Tool. Normally these are at a cost, but we have managed to find a free tool that will tell you the price paid for the houses in your street.
Free UK House Valuations
Simply enter a postcode, street, town, address or part-address:
The tool will open up a page from the UK Land Registry database of houses sold in England and Wales since 2000. Here you should be able to locate your home or your nearby neighbours property