In the current economic climate it is becoming harder and harder to know how much your home is worth, which, of course, shouldn’t matter unless you are trying to move house. And in these economic times only those who really have to move are doing so – maybe because of a new job, a relationship breakdown or family reasons. If you are one of the unlucky few who needs to move right now one of the hardest problems is getting a good valuation of your home – one that will actually enable it to sell but at the same time achieve a fair price for you the seller.
There are numerous houses on the market that seem to be priced fairly but are still not shifting and yet those houses with that extra something special – whether it is period charm, a highly desirable location or the rarity factor – seem to be commanding and achieving rising prices. So there can seem to be a price disparity between similar houses in similar areas. Estate agents are very keen to point out the differences that make an average 1950’s family home worth 20% less than a period home with the same number of rooms and square footage in a neighbouring road.
The charm factor has always been in evidence in differing valuations of homes but it is now being exacerbated by the limited supply of the rarer type of homes – not much consolation of you live in a spacious, beautifully decorated and finished home built in the last 50-60 years.
So when you are thinking about getting your house valued and have looked at other homes on the market in the vicinity you will have a fair idea of what you think it is worth before you call in the estate agents. It is tempting to try marketing the house at a high price, after all you only need one buyer, and doing so will convince you one way or the other if you were right. But always be prepared to be realistic and drop the price if there is no serious interest, otherwise your home will simply languish on the market. At the end of the day the only way to know exactly what your home is worth is when you have secured a sale.