Nov 10, 2021
5 min read
There are a few different reasons why you might need to know the value of your property (spoiler: It’s not just when you’re about to sell a house). Fortunately, getting an accurate online house valuation has never been easier, thanks to this age of tech. From selling to investment analysis, we’ll walk you through who should get a property valuation and when.
Simply, a valuation is a detailed report of the market value of a property. It’s based on a multitude of factors, including location, size and condition. An Estate Agent will take your property’s unique features into account as well as nearby property sales. There’s no hard and fast formula to calculate the value due to fluctuating demand and market conditions.
Online calculators are quick and vague, while an Estate Agent house valuation is the most accurate. (Psst: With SmartVal, you can get an online house valuation by 3 local agents in your inbox in just 15 minutes. It’s accurate and fast.)
Before selling a property, you need to get it valued. A property valuation can help you understand the fair market value of the property.
While you’ll need a full, in-person valuation before putting your home on the market, you can take advantage of an online house valuation tool if you’re on the fence about selling. With SmartVal, you can get 3 online valuations from the top local agents in as little as 15 minutes.
Whether you’re in a rush to sell or have the luxury of time, factor in a valuation to understand how much you could get for the property.
Tempted to rent out your property? A valuation will help you determine a fair monthly rent for your space. Tenants will be looking for a savvy landlord with competitive rent prices. A SmartVal can help you understand your potential profit – all in just 15 minutes.
Looking for a better mortgage deal? Before you refinance, you need to have an up-to-date and accurate valuation of the property. Get an online valuation first to get a basic understanding of your home’s value, followed by a full valuation completed by a couple of different Estate Agents.
If you’re planning on some home improvements, whether to make the property more comfortable or to get a higher selling price, you should get a house valuation beforehand. You don’t want to pour money into a property that won’t see a good return on investment.
For example, an Estate Agent values your home at £275,000. Similar properties in the area are selling for £300,000. Could you make any changes to boost your home up to £300k? Keep in mind that investing £25,000 in upgrades won’t always necessarily mean you can sell it for £300k immediately.
Also, certain streets and pockets will have a ceiling price – the maximum price that a house will sell for. If you make too many improvements beyond the ceiling price, you could lose valuable cash.
Before you decide on any home improvements, get an online property valuation.
Your home is one of your most valuable assets. Are you keeping track of how well it’s doing?
If you’re not currently planning to sell or let the property, we recommend getting a house valuation 1 to 2 times a year. The property market can move as much as 25% in a single year – pandemic aside. Getting regular valuations will help you to keep track of your home’s value, which may give you insight on when to sell and when to stay put.
You might be wondering how to prepare for a house valuation and if you need to at all. Firstly, the best way to get an accurate, online property valuation is to use SmartVal, Boomin’s 15-minute online valuation tool. Within just a few minutes and clicks, a live, local Estate Agent (up to 3 of your choosing) will deliver your valuation. This is a great first step in understanding what your home could be worth.
For an in-person property valuation, consider gathering paperwork about the property. Keeping records of home maintenance and improvement projects can also help make the case that you have a well-cared-for house.
Absolutely. Always ask a couple of agents for a valuation to get a better idea of what your property is worth. More often than not, agents will deliver different figures. Choosing a couple of agents for a property valuation will also give you the opportunity to get to know them and their services better.
On SmartVal, you can choose up to 3 local agents.
The Estate Agent(s) who provided your valuation will often follow up after assessment. This is a great opportunity to ask any questions you may have about the figure.
If your next step is selling, ask the agent about how they would put your property on the market and promote it.
If you’re thinking of letting, an agency can be as involved as you’d like when it comes to finding tenants and organising paperwork.
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. Blending technology and local agent expertise, SmartVal gives you a more accurate online house valuation. In just 15 minutes, you can have up to 3 different valuations from local agents.
On Boomin, you can schedule a full, in-person 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.
Whether a sale is imminent or not, the more you know about your home and its value, the more informed decisions you can make. If you’re past the ‘kicking the tyres’ phase and are interested in selling your home, the Estate Agents on Boomin can help your property to get moving quickly.