Manchester Property News

Find out what your home is worth

David1 - Head (2) (2) David Boyd Jul 21, 2023, 12:34 PM
Are you considering selling your property but uncertain of its value? This guide by Peter Anthony is for you.

Find out what your home is worth

 

Are you considering selling your property but uncertain of its value? This guide by Peter Anthony is for you.

The first initial step when selling a house is to obtain a valuation for your property. You could be pleasantly surprised by the increase since your purchase, or you may have unrealistic expectations about the potential sale price. Regardless, it's essential to obtain an accurate house valuation before proceeding with any sale.

What is a property valuation?

A property valuation is an assessment or estimation of the market value of a property. It is conducted by a qualified professional, such as a certified appraiser or an estate agent, who analyses various factors to determine the monetary worth.

During a property valuation, the valuer takes into account factors such as the property's location, size, condition, age, features, and recent sales of comparable properties in the area. They also consider market trends, economic factors, and any unique characteristics or improvements that may affect the property's value.

The purpose of a property valuation is to provide an unbiased and objective assessment of a property's worth. It is commonly used when buying or selling a property, refinancing a mortgage, settling an estate, or for legal or taxation purposes. A property valuation helps both buyers and sellers make informed decisions about pricing, negotiations, and overall property investment strategies.

Is it worth getting your house valued?

Yes, getting your house valued is definitely worth it if you are planning to sell or refinance your property.

Here are a few reasons why it's beneficial:

Accurate pricing

A professional property valuation provides an objective and unbiased assessment of your house's current market value. This helps you set a realistic and competitive asking price when selling, increasing the chances of attracting potential buyers.

Informed decision making

Knowing the value of your house enables you to make informed decisions about your property. It helps you evaluate whether selling, refinancing, or renovating your home is a financially viable option. Additionally, a valuation can assist in estate planning, property division during divorce, or tax assessments.

Negotiating power

Having a valuation report strengthens your position during negotiations. Whether you're selling or buying a property, you can back up your pricing or offer with professional documentation, leading to more confident and effective negotiations.

Refinancing and mortgage purposes

If you're considering refinancing your mortgage, a property valuation helps determine the loan-to-value ratio (LTV) and the maximum amount you can borrow. Lenders often require an updated valuation before approving a refinance application.

Insurance coverage

A property valuation can aid in determining the appropriate level of insurance coverage for your property. It ensures that you're adequately insured against potential risks, such as a fire, natural disasters, or theft.

How do I value my house?

Book your free valuation with Peter Anthony today.

Having accumulated decades of experience, we possess extensive knowledge and insight into the property markets of Stockport, Manchester, and Liverpool. We have gained a deep understanding of these regions, including the preferences and behaviours of potential buyers. As a result, we are well-equipped to help you attain the optimal market value for your property.

Looking for more information and advice?

Follow the links below...

I’m looking to sell my house

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What to expect at a valuation appointment

Getting a valuation is very simple.

Here's what you can typically expect:

Property inspection

The valuer will carefully examine both the interior and exterior of your property. They will assess the size, layout, condition, and features of the property. They may take measurements, photographs, and notes to document their findings.

Property details

The valuer may inquire about specific details regarding your property, such as the age of the property, recent renovations or improvements, any unique features or additions, and any potential issues or concerns that may affect the value.

Comparable sales

The valuer will research and analyse recent sales of similar properties in your area to determine market trends and benchmark your property against comparable ones. This helps in assessing the current market value.

Market factors

The valuer will consider various factors that can impact property values, such as location, proximity to amenities, transport links, schools, and local market conditions. Economic factors and trends in the broader market may also be taken into account.

Discussion and questions

The valuer may engage in a conversation with you to gather additional information about the property, your motivations, and any unique circumstances that might influence its value. They may also answer any questions you have about the valuation process or the property market.

Valuation report

Following the inspection, research, and analysis, the valuer will compile a comprehensive valuation report. This report will outline their findings, including the estimated market value of your property based on their assessment.

How to prepare for a house valuation


How to prepare for a house valuation

If you’re looking for house valuation tips, preparing a house valuation can help ensure that the process goes smoothly and that you present your property in the best possible light.

Here are some steps you can take:

Clean and declutter

Start by tidying up and decluttering your property. Clean each room thoroughly, including floors, windows, and surfaces. Removing excess clutter allows the valuer to see the space and features clearly, it can even provide the illusion that your home is bigger than it is.

Complete maintenance and repairs

Attend any necessary repairs or maintenance tasks. Fix leaky faucets, replace broken light bulbs, repair minor damages, and ensure everything is in proper working condition.

Highlight key features

Identify and highlight the key features and upgrades of your property. Make sure they are easily visible and accessible during the valuation. For example, if you have a renovated kitchen or a landscaped garden, showcase these areas.

Organise documentation

Gather any relevant documentation that could be helpful during the valuation, such as building plans, permits, receipts for renovations or improvements, and any warranties or certificates for appliances or systems.

Provide Property Information

Prepare a list of information about your property, such as the age of the property, recent upgrades, notable features, and any improvements you have made. This will help the valuer accurately assess your property.

Research comparable sales

Do some research on recent sales of similar properties in your area. This will give you an idea of the market value and help you understand how your property compares to others. It can also provide you with valuable information for discussions with the valuer.

Be available and accommodating

Ensure that you or someone knowledgeable about the property is available during the valuation appointment. Be prepared to answer any questions the valuer may have or provide additional information about the property if needed.

Make a list of questions

If you have specific questions or concerns about the valuation process or the property market, make a list beforehand so you can discuss them with the valuer during the appointment.

Why choose Peter Anthony to value your home?

✓ Independent estate and letting agent for over 30 years

✓ NAEA and ARLA licensed agent

✓ Manchester, Stockport and Liverpool property experts

✓ One point of contact throughout your sale or let

✓ Tailored marketing to your needs

✓ No obligation FREE property valuation

We can carry out your property valuation either remotely or in-person, whichever suits you better. 

Book today, it's free!

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This Blog looks at what is happening in Manchester, the property market, events and community news along with investment ideas and tips for those loosing to invest in the area. 

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