Marketing your property at the right price is really important.
Here's a closer look at what's involved in valuing your property:
- Start by doing some research into properties recently sold in your area to get an idea of how much you could expect to achieve.
- You could invite an agent to value your property or alternatively, book a virtual valuation. But first, take a look at our online valuation tool and gain an estimated value.
- Remember, you can invite more than one agent to value your home.
- A property valuation takes a lot into consideration, including market conditions, knowledge of the local area and recent sales, as well as an evaluation of your property.
- Don’t be tempted to choose an agency based solely on the highest valuation. An agent may suggest a higher price to win your business, for example.
- An overpriced property is likely to deter buyers. House-hunters might not arrange a viewing if it seems like they're paying more than they should.
- If your property is initially over-priced, it could be on the market for a long time and you may have to eventually reduce the price.
- If you receive an offer, your buyer's lender will want to ensure the property is accurately priced before agreeing to a mortgage.
- If the sale falls through due to inaccurate pricing, you have lost time and potentially money.
- Look for a realistic valuation which is achievable.
- The agent will be objective when it comes to appraising your property, so try not to be too emotionally involved. The valuation should be based upon the property and not on the financial investments you have made over the years.