How to Work Out The Value of Your Property - Norwich Home Buyers

How to Work Out The Value of Your Property

Finding out the correct value of your home can take a bit of research. If you price your house incorrectly it may be one of the reasons that you’re having trouble selling. Let’s dig into how to work out the value of your property.

If a buyer believes that the price that is being asked for is too high they may not even consider making a lower offer and avoid the embarrassment.

By ensuring that you have valued your house correctly before placing it on the market will speed up the process of selling your house and allow you to move on with your next purchase.

But how do you work out the real value of your house? Read on to find out about a few quick tips that will help you find an accurate value for your property and give you the best chance of selling, whilst also getting the maximum amount possible.

1. Ask an Estate Agent

First things first, ask the experts! Estate agents WANT your business and they’ll usually offer to visit your property to give you a free valuation.

Estate agents should have a good idea of what properties in that area are selling for, but beware that they don’t over value your property in the hope that you give them your business – the last thing you want is for your property to be sat on the market for months with no buyer interest.

2. Look at the market trends

Keep an eye on the market around your local area. Are the prices going up, staying the same or even going down? It’s also a good idea to look at houses that are listed to see how much they are put up for sale for. If they are selling really fast, it might be that they are priced too low.

But if they are priced too high, they will take longer to sell. Take this into consideration when working out how to value your property.

3. What work have you done to the house?

If you have added an extension, a new kitchen or bathroom to your house then it might be worth more money than other properties in the same street.

Simply adding things like this not only make the property more appealing to a larger range of buyers, but it can also add a few extra thousand pounds to market value of the house.

4. Look at the sold house prices in your local area

Websites like Rightmove and the Land Registry are a great place to find out this information. Simply head to the ‘Sold house prices’ page on Rightmove and enter your postcode.

This will show you exactly what the actual sold prices are of the properties in your area and will help you determine an accurate valuation for yours. It’s important to look at sold prices as opposed to what properties are being marketed for as this helps you find the prices that buyers are willing to pay, and not just what sellers in your area are hoping to achieve.

Summary: How to Work Out The Value of Your Property.

If you follow these simple tips you should be able to work out an accurate valuation for your home, however, if you’re struggling to find the relevant information then it might be time to give Norwich Home Buyer a call for a free no obligation offer. Call us today on 01603 851837!

You can absorb more of this knowledge by navigating over to our Norwich Property News section.

Be sure to check out house comparables here on RightMove.