You don’t have to hire an estate agent to sell a house in the UK. But remember: a local agent brings an array of skills to the table — including experience in valuing homes.
We’ve broken down the steps to valuing homes in the UK. But bear in mind this isn’t an exact science. And even the most talented and experienced estate agents get it wrong from time to time.
Is the house in a good state of repair?
Most homes can be valued according to their location, size, facilities, number of rooms, floor space and nearby amenities. But all of this data could mean very little if the property in question suffers from serious structural issues. Before you do anything else, establish if any of the following problems are present:
- The quality of construction is low
- There’s damage due to subsidence
- There’s damage or warping on the roof
- There’s visible structural degradation
- The windows are in a state of disrepair
Are the house’s facilities fit for purpose
Every home relies on power and water. And when these essentials are interrupted or disrupted in any way, the consequences on the property’s market value can be devastating. Among the most common issues to look for include:
- Unusually high water and energy bills
- A malfunctioning boiler or central heating system
- Restricted access to cut-offs and stopcocks
- Outdated wiring and gas piping
- Badly heated rooms
Your property might be in a fantastic area in high demand among buyers. But if some of these issues afflict it, you’ll need to address them if you hope to maximise your home’s price potential.
Of course, you may not have the time, money, or inclination to update your property. Instead, you might want to find a willing buyer as quickly as possible.
Research recent house sales
The internet has made valuing UK homes more accessible than ever. Using the Land Registry website, Zoopla and Rightmove, you can search for recent house sales in your area. You can even search for homes that are similar in size and style to your own, giving you a clear idea of what people will pay.
But there are many variables at play, and it’s impossible to be wholly accurate with your valuations. For example, a similar home that sold recently may have had a slightly larger garden. Or it might have newly-fitted windows. So any information you glean from these sites will only ever give you a rough valuation.
Can I get a more accurate valuation?
The vast majority of estate agents in the UK use these tips. The current condition of a property and recent sales data (and maybe a little intuition) are the critical components of any valuation process.
If you need something more accurate, however, there is an alternative. Approach a surveyor and ask for a “standard valuation”. They’ll use all the data available to you online, but they’ll cast an expert eye on structural issues, too.
Valuing a home isn’t rocket science, but it is challenging to do it with a high degree of accuracy.