How Much is My House Worth? House Valuations Explained
Whether you’re looking to buy, sell, remortgage, or if you’re just curious, you can request a property valuation to find out how much your house is worth.
If you’re looking to sell your house in Liverpool, you can request a valuation from Lavelle Estates. Lavelle Estates offer free, no obligation valuations carried out by local property experts to help you establish the value of your home before you market it for sale.
Here’s what you need to know about house valuations.
Should I request an online or in-person valuation?
Depending on your reason for wanting a valuation, you can either request an online or an in-person valuation. Typically, if you’re looking to buy, sell or remortgage a house, you’d want to request an in person valuation for a more accurate estimate. If you’re just curious and are not planning on selling your house anytime soon, you can request an instant online valuation instead. However, keep in mind that online valuations are less accurate and are to be used as a guide only as estimates may not be reflective of your property and its current condition.
Online- Online valuations provide you with an instant estimate using sold house prices in your area but, the data may be limited as it only requires basic information, such as postcode and number of bedrooms. You should never entirely rely on online valuations as it cannot take into account any improvements or developments made to your property.
In-person- When you request an in-person valuation, an agent will visit your home to evaluate its condition and take note of any upgrades or extensions that may have added value to your home. The agent will assess these features and will conduct market research in order to provide you with an estimate based on fair market value.
What can influence the price of my house?
There are a number of factors that can affect the price of a home and that’s why it’s always better to request an in-person valuation as opposed to an online valuation.
The type, size and finish of your home are all important factors that can affect the price of your home significantly. The number of bedrooms and bathrooms, the size of your kitchen, reception rooms and outdoor space, and the overall condition of your house are important to consider. Other things that can add value to your home include extra space and potential to add an extension to the property.
The location of your home and its neighbourhood are also important. If other houses in the area increase in value, there’s potential for your house to increase in value as well, along with supply and demand. If there are good schools nearby, there may be potential buyers with children searching for homes in your neighbourhood that are willing to pay a premium to get their children into those schools.
How much does a valuation cost?
When you request a valuation from Lavelle Estates, you get a free in-person valuation conducted by one of our local property experts. There’s absolutely no pressure to sell your house with us as we provide a no obligation valuation. We’ll simply let you know how much your house is worth regardless of your reason for wanting the valuation.
Other estate agents may or may not charge you a fee, so be sure to ask how much their valuation costs before requesting one.
There are also valuations available to buyers that cost different amounts depending on the size of the job and the specific requirement. For example, a chartered surveyors’ valuation can range from £150 to £800, a Home Buyer report normally costs around £400, and mortgage valuation surveys typically starts from £150.
How long will the valuation take?
Online valuations provide you with an instant estimate. On the other hand, the length of time it takes to conduct an in-person valuation will vary depending on the size and type of property. Normally we ask that you set aside half an hour to an hour for the agent evaluate your house thoroughly.
What should I expect from a valuation?
There’s no need to go above and beyond to prepare for your valuation as long as it’s safe for the agent to walk around the property and be able to see the entire house and all of its features, fixtures and fittings. Agents will often point out any work that can be carried out to help you sell your house. You don’t need to complete any work if you do not wish to, this is simply advice they provide based on their knowledge and expertise.
During the property walk around, the agent will take measurements and ask you questions relating to your property’s tenure and condition. They may also take photographs to be used as reference. Should you wish to proceed to sell your house, the agent will schedule another appointment for professional photos to be taken. At this point you’ll have plenty of time to clean and prepare your house to ensure its ready for photos and viewings.
Need more information? Check out our tips to help you get your house ready to sell.
When will I find out how much my house is worth?
Depending on the type of valuation you request, you may either get an estimate during the home visit or after.
At Lavelle Estates, we aim to provide a valuation within 24 hours of the home visit. The agent will get in touch with you and provide you with a valuation report that will include the estimated value of your property, comparable houses within your neighbourhood, market research and their rationale for the estimate. They can go over the report with you and answer any questions you may have.
Should you choose to sell your house with Lavelle Estates, you’ll be guided through the entire process, from listing to completion.
If you want to know how selling works with Lavelle Estates, visit How it Works or get in touch with us today.
