WHAT IS MY HOME WORTH?

Posted on Tuesday, 09 August 2016 Posted in General by Chris Sharp

WHAT IS MY HOME WORTH?

The well-established but perhaps not particularly helpful answer is that the market value of any property is what someone is prepared to pay for it.

It is unlikely to be the value suggested by the type of automatic valuation model that can be found online which is based on postcodes and average property prices and which can be wildly misleading. And if the value of a property is what someone will pay for it then that figure will rise or fall depending on the balance between supply and demand at the time of marketing.

Location and time of year will play a part. Rural properties probably won’t achieve their optimum price in the middle of winter. But time of year may hardly affect property prices in the middle of a larger town.

Naturally the condition of a property is significant as well as any extensions and alterations carried out. However some improvements may not add a great deal to overall value. If you are thinking of selling our advice is not to take a chance with the asking price of your home. Too low or too high and you may end up receiving less than you should.

The people best placed to advise you on the value of your property will be local estate agents who are experienced in selling properties in your area. Most Agents offer a without obligation market appraisal service and will also give advice on marketing strategy, timing, carrying out of improvements or redecoration, etc.

Pinkertons are always happy to offer expert and confidential advice on property values and to answer any questions you may have about marketing your home to achieve the best price. And if you decide that now is not the best time to go to the market then that’s fine – we won’t hassle you.