Your guide to understanding your property’s value
If you are planning to sell or rent your property, then it’s important to get an accurate estimate of how much the property could be worth.
To give you an agent’s perspective of what that involves, we’ve provided some of the key take-away points below.
Market value
Firstly, knowing how much your property is worth is more commonly known as its ‘market value’, which relates to the price a buyer is willing to pay when considering local and national market conditions.
What impacts the value of your property?
The value of your house can be determined by a variety of factors, such as any recent changes to the property or your neighbourhood.
Some of these factors may also include the size, location, amenities, condition and the asking price of similar houses nearby, so it’s always beneficial to talk to a local agent with familiarity selling in your area.
The difference between market value and asking price
Valuing your house accurately is one of the most important parts of the process.
Bringing your home onto the market with an asking price that is too low could mean you receive offers below market value.
Whereas if the asking price is too high, you may not receive any offers at all, causing time delays and market stagnation as the ideal buyers are put off a home that falls outside of their price bracket.
So, whilst it can be tempting to instruct an agent based on who is offering the highest value, the risk of this is that you may need to gradually reduce your price anyway to reflect the property’s actual market value.
How much could your house really be worth?
The best way to see how much your house is worth is through a combination of tried-and-tested
methods.
Over lockdown, it would be advisable to begin by referring to online house price calculators and valuation tools, as these will provide a guide based on Land Registry Data.
However, it’s important to bear in mind that for the most accurate and up-to-date valuation, you should organise time with an agent, as an in-person appraisal will guarantee any recent developments to your home are taken into consideration.
If you’re thinking about putting your property on the market, book a valuation with our team today.
This article was originally published by BriefYourMarket and is reproduced here with their permission.
For more company news and insights from Pygott & Crone, click here
Latest news
The Renters' Rights Act: What landlords need to know now
The Renters' Rights Act: What landlords need to know nowThe Renters' Rights Act 2025 came into force on 1 May 2026, bringing the most significant overhaul of private rented sector legislation in England in more than thirty years.
What's my home really worth? Understanding property valuations
What's my home really worth? Understanding property valuationsBefore you market a property for sale, understanding its value in the current market is the most important preparation you can make.
Void periods explained: How to minimise empty rental months
Void periods explained: How to minimise empty rental monthsA void period is the time between one tenancy ending and the next beginning, during which the property generates no income.
Breaking down the property chain: How it really works
Breaking down the property chain: How it really worksWhen you buy or sell a home in the UK, you are likely to hear the phrase property chain.
