How much is my house worth? The question that can make or break the sale of your property. No one wants to under value their home but in contrast over pricing it can leave it sat on the market for months on end costing you money in the process. The real answer is your house is worth only as much as someone is willing to pay.
It is important when considering what price tag to stick on your house that it will only be worth as much as the market deems it to be worth.
If, like it recent years, the housing market has sky rocketed then this may result in the price of your property being bumped up a bracket or two. Likewise if the market has plummeted and house prices are at an all-time low, you aren’t going to achieve an unrealistic price for your house just because you feel deep down it is worth that in another climate.
It may seem unfair that something you have worked so hard for can fluctuate in price by thousands of pounds just because ‘that’s what the market dictates’, but unfortunately that is the reality of buying and selling a property.
Luckily the digital revolution has provided the everyday house hunter with the tools to value their home accurately and at a price that reflects the current property market. If you want to find out how then check out how to value your home.
When valuing your home it is important to keep in mind any demand factors your property may benefit from. Is it in a catchment area for a particularly desirable school? Is it in close proximity to good transport links? Are there a wide range of local amenities on your door stop?
It is also important to consider factors such as the condition of your property, what it was worth when you bought it and anything that may have affected this price since, either positively or negatively. For example have you made improvements to the infrastructure, such as improving the insulation, or has the property market fluctuated either increasing or decreasing your properties value.
But don’t get too carried away, these things can mean additional value to your property but over pricing because of them isn’t smart. The key indicator as to whether or not your property is overpriced is if it has sold or not. Might seem like the obvious answer but if you haven’t sold or even worse, haven’t even had a viewing, the chances are your property is listed at a price above the market average.
If you aren’t sure or just want a helping hand when valuing your property, give the eMoov team a call on 0333 360 0699 for a free online valuation. Alternatively you can request a call back.