*This post was written in collaboration with Chekes
(Image source: Pixabay)
There could be a number or reasons that you need a property valuation. You may be looking for a new home and want to find out how much your current one is worth, or you might simply be calculating the value of all of your assets. Whatever the reason is that you need one, it can be difficult to know which type of valuation you need and who can provide you with the best property valuation service. There may be times when you require an independent property valuation rather than one done by the estate agent. If this is the case, you need to be aware of what you can ask for/do to ensure you get the best valuation for your money.
Shop around for valuations
A valuation may sound like something that would be the same across any company you use, but it is still worth shopping around for a property valuation service. Obviously the cost is going to be a huge factor for you. Valuations by chartered surveyors can cost anything between £250 and £600 at standard, but they may be more depending on the size and condition of your property.
Should I use free valuation tools?
There are a lot of valuation tools available online that will give you a valuation based on things like your postcode. It is worth noting that these can often be quite inaccurate. They do not take into account the condition of your property, and it is also unlikely that they will take into account the number of square feet of land your property sits on. If you are just looking for a rough valuation because you are curious about your net worth, free valuations are fine. But if you need it for a mortgage or a house sale then it really is in your best interest to get a professional valuation.
You might get recommended a great company to do your property valuation, but they are miles away. Let’s be honest that isn’t very helpful. Despite how good the company are, being from the local area means that they would have valued similar properties before and have knowledge on how the location can affect the property value.
Do they offer the right type of survey?
Depending on what you need it for, you might need a property valuation or you might actually need a building survey. Do some research on what type of valuation or survey you need beforehand to save time in the long run. You may find a company you really like and end up being disappointed when they do not offer the survey you need.
If you are getting a mortgage then it can be a lengthy process and you probably have quite a bit of time to get your property valuation. But there could also be occasions where you need a property valuation really quickly. You might need to compromise on price if this is the case and go with a company that are able to meet your deadline.