Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Hard to value house!

9 replies

Howdidthathappen1 · 22/06/2020 19:04

We are just at the start of thinking about downsizing as we are down from 5 to 2 still at home (no empty nest going on here!).
We live on a long road with houses of all shapes and sizes so theres no average price we could compare to.
Ours is a 4 bed semi set back from the road - originally a 2 up 2 down cottage but had 2 massive double storey extensions in the 70s and 80s. Room sizes are very generous- smallest bedroom is 10 by 9 and garden is roughly 5th acre. Double garage and house in fairly decent nick.
However- the driveway is owned by next door so we have right of way to parking area for 3 cars. Next door park on one side so we pass their cars and the last one to leave can turn their car round otherwise we reverse back. Never been an issue for us but I understand many will be put off.
The issue we have is the estate agents dont really know what to value at!! Its a lot of house but with the draw back of being semi, the drive, and not really kerb appeal.
3 valuations so far have been 350k, 420k and 450k and they scratch their heads and say it's a bit of a guess!!
I would be gutted with 350k but am nervous about what to put it on for- wondered if anyone had sold a similarly odd house!?

OP posts:
NOTANUM · 22/06/2020 20:10

Hmmm interesting one and you're being realistic. I would put it on the market for the highest valuation but be prepared to drop significantly if there is little interest.

HeddaGarbled · 22/06/2020 20:15

I’d go with £420 initially.

NotSuchASmugMarriedNow1 · 22/06/2020 20:18

how much did you pay for it.

I agree with PP who said put it on for highest figure and take it from there.

OneMoreLight · 22/06/2020 20:22

What would you be happy with?

Howdidthathappen1 · 22/06/2020 21:43

We've lived here 18 years and paid 247k for it - more than it was worth but this was before the ease of internet searches now and we were blinded by the size for the money as moved from London (we're in north essex).
I would like more than 400 really but it's such an unknown it's very difficult to tell.
You can buy a detached new build 4 bed for 350 but they are literally half the size of mine. Other 4 bed semis range from 450ish for Victorian to 350ish for the solid square 70s build type. All smaller but have own bloody driveway and purpose built 4 beds

OP posts:
MummaGiles · 22/06/2020 21:51

I’d be tempted to get a residential surveyor out, one that does mortgage valuations. They might be better placed to tell you given they would have to value it for lending purposes.

Howdidthathappen1 · 22/06/2020 22:22

That's a good idea thanks. Think I'm gonna have an interesting time selling:(

OP posts:
OneMoreLight · 22/06/2020 22:36

If you'd like more than 400, I'd go for 450 so you have room for negotiation.

HeddaGarbled · 22/06/2020 23:06

The truth is, it’s only worth what someone is prepared to pay for it. There is no fixed and accurate value.

If you price too high, you risk not getting any viewings or offers and then having to reduce the price in a few months time, which taints the property and attracts low offers from buyers who assume you’re desperate.

With three such varied values, I would strongly advise against going for the highest. It’s a known tactic of some EAs to value high in the hope of getting the business.

Maybe get some more values to try and build up more of a consensus?

New posts on this thread. Refresh page
Swipe left for the next trending thread