How Much Does it Cost to Get a House Valuation Done?
Are you in the process of selling your home and buying a new one? Even if you are just trying to get a sense of where the market is and if it’s the right time to buy or sell, there is one thing you need to do and that is getting a house valuation done.
If you are new to the world of house valuations, you likely have a lot of questions to ask. At the top of that list of questions, though, you probably want to know how much it will cost to have a valuation done on your property. The short and sweet answer is that it can cost as little as nothing at all to as much as hundreds of £s. It all comes down to accuracy. Before we address this question more fully, though, you must have a clear view of what a home valuation is and why they are important.
What is a Valuation?
A valuation of your property will tell you how much it is worth approximately and how much it may cost to buy. As long as the information is accurate, you can then use the findings of a valuation to determine if it’s the right time to sell or buy and for how much you can put it on the market to sell.
When Do You Need a Property Valuation?
There are several different situations when it’s a good idea to seek out a home valuation, whether it’s for your own property or one you are interested in buying. For example, if you are in the market to buy a new property, you could check the values of property in different areas and streets to figure out if you can afford them or not.
If there is one, in particular, you are interested in, you could also use the values of similar property in the same area to determine if the seller’s price is reasonable or not and whether there may be room for negotiation.
If you are selling property, valuations can help ensure you are putting your home on the market for a fair price. Especially if you have done a lot of decorating, renovation work or had an extension built and think that may affect any previous valuation you had done.
Where Can You Get House Valuations?
There are a variety of different organizations that will provide home valuations. Chartered surveyors and mortgage lenders are your best bet if you are looking for the most accurate valuation. It’s worth noting that both these options cost a lot of money.
How Much Does a Valuation Cost? Is a Free Valuation Worth It?
We noted at the outset that you can get free house valuations. Are we deliberately contradicting ourselves? No, as we also noted, it all comes down to accuracy. There are plenty of organisations that will provide you with a house valuation for free. However, it is unlikely to be quite as thorough and accurate as one conducted by a mortgager or chartered surveyor. As to whether a free valuation is worth it or not. That all depends.
If you are serious about selling and want to get the ball rolling or are serious about buying and want to make moves on a property, investing in a house valuation will be worth it. However, if you are just trying to get a sense of the market and are not in a rush to sell or buy, paying the price for a comprehensive house valuation may not be really worth it.
Understanding the Difference Between a Survey and Vallation
Another aspect of house valuations you need to understand is the difference between what is called a valuation and a survey.
Often a house valuation will be the simplest form of the process and will only provide you with an estimate of how much a property might be worth. This is sometimes referred to as a homebuyer’s survey. If you are looking for a more detailed valuation you need to look for what is called a “level 3 survey” or full structural survey.
So, there you have it when it comes to whether or not you should pay for a house valuation, you know can make a more informed decision. If you are thinking “I need to sell my property quickly” and don’t want the hassle of a full-on valuation, it may be time to talk to a property cash buying firm like Cash Home.