Would you like to know how much your home is worth?
Most homeowners keep an eye on the market and have an idea of what their home might be worth. We naturally err on the optimistic side, in the hope we can aspire to climb the property ladder.
So if you are interested in knowing the value of your home how do you go about it?
There are many people and companies who profess to be able to value your home. Be it a neighbour, a website, an estate agent or a chartered surveyor, and each offer very different methods to come up with the figure.
Online websites apparently use sophisticated algorithms to predict the value of your home. Really all they are doing is looking at how the market has changed since you purchased your house and applying this to the price you paid for it. This model can work well in towns and cities where you have terraces of identical homes which regularly sell. However the downfall comes when it is applied to properties in the country. Rarely are two houses the same and houses tend to sell less frequently, therefore the figures are unreliable.
Estate agents are your local experts and if you choose the right agent with the correct credentials, they will provide the most accurate price. However beware some estate agents will give you an inflated figure to entice you to use them when the time comes to sell your home. Ensure you choose an agent with the right reputation who regularly sells properties similar to yours.
Chartered Surveyors registered with the Royal Institution of Chartered Surveyors (RICS) are qualified to give formal valuations of your property. These can be relied upon and are backed by professional indemnity insurance. They are used by banks for lending, for tax purposes, for trusts, wills and probate. There will of course be a charge depending upon the complexities of the property for a formal valuation.
At the end of the day until the property is sold and realises its true market value, all values are just opinions.
If you would like am informed and accurate opinion, we are local estate agents who know the area inside out. We trade upon our reputation, give straight advice, we are regulated by RICS and would be delighted to give you an update on the likely sale price of your property.
Please call us to arrange a visit from our Moreton-in-Marsh office 01608 651188 or Broadway office 01386 858510 or click here to fill in your details and we will be in touch.