Whether you’re staying or selling, there are many reasons to check your home value through a property valuation.
Do you find yourself looking at comparable house prices in the area and wondering about the potential value of your home? We don’t judge. It’s a source of pride and comfort to know your home naturally appreciates over time.
While most homeowners don’t think of getting a property valuation until they decide to sell, there are many more reasons why you should check your home’s value. Not only is it good chit-chat material for Saturday’s dinner party, but booking a house valuation empowers you to make better decisions regarding your property and future home sale.
But property valuations aren’t just there for when you’re about to sell. Below are some of the benefits of a home valuation – and why you should get one today (and regularly, thereafter).
Why you should book a house valuation
- Prepare to sell
If you’re even toying with the idea of selling, you absolutely need to know the value of your property. An estate agent will give you a true and current value – rather than those rough numbers that an online tool may spit out. This narrowed-down price figure helps you determine the possible proceeds you’ll make after selling, which ultimately influences your next home purchase.
What’s more, accurately valued homes get more views (online and in terms of home viewings) and tend to sell quicker than outdated or mistaken valuation prices. If your home goes to market with too low a value, you may generate a lot of interest, but you could lose money from undervaluing it. Alternatively, if your home’s value is overinflated, you may find it knocks prospective buyers out of the running.
In this current market climate, it’s best to have an accurate and up-to-date property valuation.
- Make home improvements
Home improvements are generally made for two reasons – 1) making the house more comfortable to live in, and 2) preparing the house for sale to fetch a higher selling price. If you find your home is already priced at the higher end of the neighbourhood, making home improvements may not yield a suitable return on investment.
For example, an estate agent values your home at £375,000. Similar homes in the area are going for no more than £400,000. Even after investing £50,000 in upgrades, it doesn’t mean your home will sell for more than £400,000. Ergo, your time and money are wasted. If there’s plenty of wiggle room to add updates without reaching the ceiling price of the street, it may be worth making those upgrades.
Before you make any drastic changes to your home, book a property valuation with a trusted estate agent.
- Stay in the know
You may have no immediate plans to sell or make improvements. Still, keeping yourself informed of your home value is a great idea. Situations and plans can change in the future, sometimes involuntarily and without warning. In many cases, being in the know about your home’s value will help you take the next steps when you’re ready – or when life throws a curveball.
How to get a free property valuation
While many online tools crunch the data for you, your safest and most reliable bet will be for an estate agent to evaluate your property’s details. On Property Price Advice, you can schedule a free property valuation with a trusted and local expert, whether you’re serious about putting your home on the market or just want a single number for peace of mind.
If you’re past the “kicking the tyres” phase and are interested in listing and selling your home, the estate agents can help your property to get moving quickly.