If you’re thinking of selling your home, the first step is to ask an estate agent to value it.
Your home’s valuation will give you a great idea of what a buyer might be prepared to pay for it – and this can help you to decide on a suitable asking price.
But what does a valuation entail and what will the agent be looking for when they perform the valuation?
All the answers are here…
What is a house valuation?
A property valuation is an estimate of your home’s value based on a number of factors, including:
- How your property compares with others in the area
- How the property market in the area is performing at the time of the valuation
When an estate agent values your house, they’ll also look more deeply into the property itself, including its condition and specific features that would appeal to buyers.
What to expect from a house valuation
Valuations can be daunting – after all, you’re allowing someone to look around and inspect your home, after which they’ll give you their opinion on how much it’s worth.
When an estate agent carries out a valuation, you can expect the following to happen:
- A collation of information on property prices and recent sales in the area, so the agent can see how your home compares
- An exploration or use of local knowledge on local area transport links and amenities, including school catchments
- An assessment of the property market at the time of the valuation
- A thorough inspection and assessment of the property’s interior, exterior and land
- Room measurements to be taken
Your agent should either take extensive notes about the property’s condition and features, or they may choose to record their thoughts into a dictaphone or smart phone voice recorder.
Among the specific details an agent will consider when valuing your home are:
1. The type of property and tenure
When valuing your home, your agent will consider if it is:
- Detached
- Semi-detached
- Terraced
- A purpose-built flat or apartment
- A converted flat or apartment
Your property’s tenure will also be taken into account, with freehold properties often costing more than leasehold homes as the land is for sale as well as the property itself.
Other details about the property that your agent will factor in include:
- Your property’s plot size
- Whether it’s in a conservation area
- Whether it has listed status
- Its council tax band
2. The property’s condition
The condition of a house has a big effect on an estate agent’s appraisal.
For example, a property that has been well maintained and has very few cosmetic issues is likely to be worth more than a similar home that needs work.
Things your agent will consider the condition of include:
- The roof and exterior structure
- Interior fixtures and fittings
- The property’s décor, including flooring and carpets
- Windows, doors, and woodwork
- Electrical installations
- Plumbing systems, including the boiler
- Signs of damp or subsidence
To find out more about your property’s condition, your agent may also ask you questions, such as:
- When was the boiler installed and has it been regularly serviced
- When were the windows last replaced?
- Has the house been insulated to modern standards in the loft and walls?
Your agent may also look at the condition of your garden and outside space, including looking for any signs of issues such as flooding or Japanese Knotweed.
3. How much space you have
Square footage is another factor that has a big effect on your property’s value.
The larger your property is and the more rooms it has, the more it will be worth in most cases.
However, your agent will take a closer look with the eyes of a buyer when on a valuation, thinking about:
- The property’s useable space
- How the property flows
- The number of bathrooms and bedrooms
- Outside space and its usability
- The amount of storage space on offer
4. Your kitchen
Kitchens are a hugely important part of any home.
And with open plan kitchen, dining and living spaces remaining as popular as ever, your agent will certainly consider yours when they carry out a valuation.
It’s estimated that a new kitchen could add as much as 10% to your property’s value.
But even making cosmetic improvements to the space you have can help to influence an agent’s opinion when they value your home.
Consider giving your kitchen a freshen up by:
- Painting or replacing unit doors and drawers
- Adding new handles to units and drawers
- Adding a new, better-quality worktop
- Adding additional units for more storage if you have space
5. Available parking
Your agent will also consider parking arrangements at the property, which can also influence their valuation.
Off-street parking is hugely desirable for buyers, particularly in cities, so having a driveway or garage could boost your property’s valuation figure.
If your home is a leasehold flat, an allocated parking space is desirable.
If only on-street parking is available, your agent will consider if this is allocated by permit and how much available parking there is at various times of day.
6. Your property’s location
Your property’s location is potentially the biggest factor that will influence its valuation.
For example, a similar property in a less desirable area is likely to command a lower valuation than one in a highly popular location.
As well as the property’s postcode, your agent will consider:
- How close the property is to local amenities and transport links
- Which school catchments it sits in
- The general appearance and nature of the street
- Which direction its garden faces
7. Room for expansion
When valuing your home, your agent won’t just look at your property as it currently is; they’ll also consider its potential for future expansion or development.
Even if you have no plans to add space to your home before you sell, the potential to do can have a big effect on your valuation.
For example, if you have a large garden, your property may be suitable for a rear kitchen and diner extension.
Or if you have a suitable loft space, there may be potential for any new owner to convert this into a large master bedroom with en-suite.
If you are considering expanding your property before you sell, the table below shows you how much value each piece of work could add to your home*:
| Work | Potential added value |
| Ensuite or extra bathroom | Up to 5% |
| Extension / loft conversion | Up to 20% |
| Garage conversion | Up to 20% |
| Summer house | Between 5-10% |
| Garden office | Between 5-10% |
| Double glazing | Up to 10% |
| Solar panels | Between 14-38% |
| A new driveway | Between 5-10% |
| Conservatory | Up to 7% |
* Data from checkatrade.com
8. Fixtures and fittings
A property valuation will also see your estate agent look at your property’s fixtures and fittings.
As well as looking at their quality and condition, your agent will also consider how they match up with your home overall.
For example, if your kitchen fixtures, such as your sink, integrated appliances, worktops, and units are of a much poorer standard than the rest of your home, this could negatively affect your valuation.
Your agent will also be keen to get a feel for which fixtures and fittings you’re likely to include with any sale.
9. Unique characteristics
Looking for unique features and character that can help your home to stand out will also be on your agent’s agenda when they value your property.
Particularly unique homes can be more difficult for an agent to value, as there may be fewer, if any, similar properties to compare them with.
But original period features from the Victorian, Edwardian, or Georgian eras will generaly help to boost your home’s value and appeal if they’re well maintained and in good condition.
Examples of popular period features include:
- Sash windows
- Original fireplaces
- Original parquet flooring
- Decorative coving or skirting boards
- Edwardian bay windows
Frequently asked questions
How do I get the best results from my property valuation?
One of the best ways to get as much from your valuation as possible is to answer your agent’s questions accurately and give them as much information as possible.
Share details with them about the property’s history, any work you’ve had done and also what the property means to you.
How long does a house valuation visit take?
The amount of time a property valuation takes can vary depending on the size of the property.
However, your agent’s valuation won’t usually exceed an hour.
How long does it take to get a decision after valuation?
Most agents should be able to provide you with a full valuation or market appraisal within a few days.
This gives them time to assess the current market and research data into other property sales in your area.
Does my house need to be tidy for valuation?
Your property should be tidy, clean, and clutter-free when an agent arrives to conduct a valuation.
This will ensure they see your home in its best light, including its size, flow, and expansion potential.
Further reading…
Looking to sell your home? Book your property valuation today.
