If you’re looking to put your home on the market, either now or in the next few months, you’ll want to get it valued. This will give you an accurate target price and an idea of what you can afford for your next property.
There are various ways to get your home valued, but whichever you choose, make sure that it’s assessed correctly. Here’s everything you need to know.
What is a house valuation?
A house valuation is an assessment of your property’s value. It’s based on multiple factors, such as the location, size and condition of your home.
How much does a house valuation cost?
There is no exact price of a house valuation. Generally, you can expect to pay between £150 and £1,500.
This price is dependent on the size and location of your home, as well as the surveyor and the type of valuation you have. For example, a simple mortgage valuation is likely to be cheaper than a more detailed valuation.
It’s a good idea to research and compare prices before committing.
What is the difference between a valuation and a house survey?
A valuation provides an estimate of your home’s value, while a house survey assesses the property’s condition.
A house survey is used to identify any issues with your home and highlight aspects that may need repairing.
RICS valuations
A RICS valuation is a written assessment of a home's value. It’s conducted by a chartered surveyor accredited by the Royal Institution of Chartered Surveyors (RICS).
RICS Home Surveys give you more information about your prospective home. If you want to get an accurate valuation of your existing home, you can hire a RICS surveyor to carry out various checks in line with the surveys they usually undertake.
RICS surveyors will highlight any defects, risks and potential legal issues in the property, helping you gain a better understanding of its condition and value.
How to get a house valuation
Below, we’ve listed some of the ways you can get your home valued.
Estate agent valuations
Local estate agents can help you gain an accurate valuation of your home. This is because they have knowledge of the local area and an understanding of recent sales of similar properties.
You could contact a few local and online estate agents and ask them to give you a home valuation for free. You won’t need to sign a contract with them as you’re just interested in a valuation at this stage.
Many online estate agents, such as Purple Bricks, employ local property experts who can provide an accurate valuation for your home based on its type, the area and recent sales. It’s important to get valuations from more than one estate agent to ensure accuracy and avoid under-valuing.
Online valuations
An online valuation can provide a rough computer-generated estimate of your home. It’s based on data like the property’s age, location and condition, as well as current market trends and the price of other listed properties in your area.
Wondering how to check a house valuation online? You could use the Nationwide house price calculator for a valuation based on what you originally paid for your home. This will reveal the price it could be worth today alongside a percentage figure, showing how much it’s gone up or down by.
Online valuations are great for an initial estimate, but they don’t offer the same accuracy as a physical valuation from a surveyor. So, be sure not to rely solely on the results.
Look at house prices in your area
If you’re unsure how to find out how much a house is worth, you could research the general house prices in your area.
On Rightmove, you can view what the homes local to you have recently sold for. You can also get an idea of how much your home is worth by using their price comparison tool. All you need to do is enter your postcode, the distance you want the search to cover (e.g. within ¼ mile), your property type and the number of bedrooms.
The results page will show homes that are currently for sale and are no longer on the market, as well as sold prices and properties to rent that are similar to yours.
New build home valuations
At David Wilson Homes, we give you the option of part exchanging your existing home for a new build property.
Once you have contacted us, our part-exchange process will require you to arrange two independent property valuations. This is to ensure you receive an accurate valuation and have a clear idea of the home you can purchase through part exchange.
Discover our range of new homes across the UK – modern and energy-efficient. Or explore our unique homebuying offers to help you become a homeowner.
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