What is a property valuation and why do I need one?

See how much you could let or sell for

Discover the importance of getting your property valued, if you’re thinking about letting or selling.

Looking to sell or rent out your property, but not sure what your property is worth? Getting the price right is one of the most important steps in the sales and lettings process. Maybe you’re just curious about what you could sell or let for - and that's why we have two types of valuations for a property.

Getting an instant online valuation on a property on your property is a great first step. An instant valuation is a fantastic tool that uses powerful market data to provide you with an online estimate of what your property could be let or sold for. If you want a more accurate valuation, then it’s worth seeing what a local expert thinks your home is worth. This isn't a big formal meeting, but rather is a no-obligation appointment and property-visit by a local expert, who will provide you with a real sense of your property’s value. 

In this article, we break down why you need a valuation done when letting or selling, and what you can expect from each type of valuation so you're clearer on what best suits you.

Why do I need a property valuation?

There are several reasons why you might want your property valued. You may be thinking about selling it or letting it out, or you might be dealing with a probate or co-own a property, but are separating.

In all of these cases, a valuation will help you determine the property’s value in today’s property market. This will help you gain a better understanding of how much you can sell or let your property for. 

What influences a property valuation?

Various elements make up the final valuation, for example, the property’s age, condition, size, as well as its environment, including location and proximity to amenities and/or transport. Additionally, factors such as the current overall buyer demand and, more specifically, the buyer and tenant demand for such properties are considered.

What is an instant valuation?

An instant valuation is an easy and convenient way to understand the value of your property. It can be completed quickly via our website at any time. Simply enter your address and postcode, some basic information about yourself, and you’ll receive an estimation of your home’s ‘to let’ and ‘for sale’ value. 

The information in an instant valuation for both sales and rental valuations are based on various data points, including from the land registry, recent property sales and rental yields in your specific area. The one thing to remember about an instant valuation is that it doesn’t take into account changes or improvements that you may have made to your property which could increase its value. Only an expert agent will be able to tell you whether your loft extension or new bathroom will have added value. After you’ve completed your online instant valuation, you’ll receive the results and can decide what to do next from there. 

What is an expert valuation?

As we’ve mentioned, whilst an instant valuation is a very useful tool, it does have some limitations. To gain a complete understanding of your property’s worth, you’ll need an expert valuation on a property.

An expert valuation involves a property expert coming to your home to give a more detailed and accurate valuation. It’s a free and no-obligation appointment where your local agent will view your property while considering the most recent market dynamics and property rates. They can also take into account the unique features of your home that set it apart from those in your area, as well as offer advice on how to potentially increase its value. 

What is the expert valuation process?

As every property will be different, each valuation process will also differ. However, on the whole, there are some key aspects that most property valuations will include, for example, property experts will…
… take note of the property’s age.
… consider any changes and improvements made.
… make a list of all key features, including the garden size, if present.
… inspect the interior and exterior of the property.

Getting a valuation gives you the opportunity to ask questions, including how you could increase the property’s value or, as a landlord, make it more attractive to potential tenants.

How to arrange a property valuation

If you’re a landlord or homeowner, and want quick insight into your property’s value, get an instant valuation here. For a free, no strings attached, more in-depth valuation of your property, book your expert valuation below. Remember that the expert property valuation is a personalised, more detailed and accurate valuation of your property.

Curious to see what you could sell or let for?