How to valve a house?
Valuing a house requires research
and market knowledge
Methods to value a house
• Check comparable property prices
• Check historic property prices
• Check property characteristics to determine its type.
Check Comparable House Prices
• Check how much similar houses are selling for on the
same street or area.
• Determine the price trends in the area.
• Assess the overall market trend of the property
market. Is the market on a rise or is there a downturn
in the market? (Know when to sell your house)
Check property characteristics
Some of the main characteristics to note when comparing properties values:
• Number of bedrooms
• Number of bathrooms
• Property size
• Property type; for example for UK properties, is it a terrace, semi detached,
detached house. Is it an apartment or a condo etc.
• Other features to note could be; type of windows, heating or air
conditioning, overall condition of property, external space condition,
whether it has a garage, or off street parking etc. (All these factors can
increase a property price)
There are some rules that can be applied to arrive at the
final property price;
• For example, if the house for sale has an extra
bedroom than the one on the market then money
can be added onto the price.
• The location of the property also plays a part in the
price. Check if your location is desirability in
comparison to the others being sold.
How To Value Your House