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Property valuation

12 replies

berryfull · 06/06/2023 17:37

I live in a three bedroom 1930’s ex council flat . There’s lots of identical flats on the street.

Originally these flats had very small kitchens, just a galley style with no room for eating . So when we bought ours we moved the kitchen through to one of the bedrooms. Which gives a big kitchen with room for a table to eat at. The original kitchen then became a third bedroom. Tis a small bedroom but not infeasible. My teenage son has it and he has a small double bed, desk and wardrobe in there.

a few other flats on the street have done the same conversion. Tisn’t a massive deal, just moving gas and electricity one room along. Easy to put back too should you want to. only cost us a few grand to do.

We’ve had the flat over a decade now and it needs a new kitchen maybe and re decorating. but we’re wanting to move so haven’t done these things. It’s not awful, just needs a repaint and refreshed and the kitchen cupboard doors need repainting, countertops need refreshed.

We got the flat valued recently and the estate agents have valued it as 30 grand less than other indentical flats in the street that still have the kitchen in the original room. They say it’s because it has a small third bedroom and because it needs redecorating!

will these things really make 30 grand’s worth of difference?

OP posts:
MarinatemysoulinSprite · 06/06/2023 17:47

You posted the same question this morning and got lots of replies/advice.

https://www.mumsnet.com/talk/am_i_being_unreasonable/4821482-house-valuation

Would have made more sense to get your whole thread moved to this section.

If you @ MNHQ they can do that for you.

berryfull · 06/06/2023 18:04

I just thought different folk would see it here and I might get more/different perspectives. Sorry if it bothers you or is against protocol or something to post twice. AIbU for traffic, here for specialists!

OP posts:
KievLoverTwo · 07/06/2023 09:25

No, that sounds ridiculous. You could get at least three EAs to do a valuation on your home. You may have just found the one who is desperate for quick sales.

KievLoverTwo · 07/06/2023 09:27

By the way, if the kitchen you installed needs repainting (does that ever look good?) and it is quite small, you can probably pickup a secondhand smart one off FB marketplace or eBay for £500-1k and really smarten it up, if you are capable of replacing cabinets like for like yourself.

MarinatemysoulinSprite · 07/06/2023 10:29

Apologies OP - I didn't mean to sound quite so snippy yesterday! Glad you are getting some more input here.

DrySherry · 07/06/2023 13:00

Definitely if it needs a new kitchen people will look at that as needing to spend 20k for something half decent, and i do mean only half decent. If it also needs redecorated throughout then another 10k is easily spent. I would personally think the agent is still giving you an optimistic valuation, that's what they do. If your third bedroom is smaller than others that's also going to mean its worth less again. I think you need to adjust your expectations quite considerably.

berryfull · 07/06/2023 14:12

30 grand for a lick of paint and new cupboard doors? What world do you live in?

madness.

OP posts:
GasPanic · 07/06/2023 15:23

Estate agents are normally pretty good at valuing property - it's their business.

If you think it is worth more than their valuation, then you can ask them to stick it on at that. Or maybe you could consider at their price, but offers over.

A few weeks on the market should tell you if the world thinks its worth what you think it is.

berryfull · 07/06/2023 16:41

But there are indentical flats in the same street. There is one in at 30 grand more than mine that is indentical apart from it’s been whitewashed and doesn’t have kitchen moved. But the kitchen in that is old and basic, nothing special. It has had cheap grey carpet put through it. Ours has oak flooring all the way through that we put it. Same company!

OP posts:
berryfull · 07/06/2023 16:48

This is the kitchen from the flat worth 30 grand more!

OP posts:
Yorkshirebornand · 07/06/2023 17:20

berryfull · 07/06/2023 16:48

This is the kitchen from the flat worth 30 grand more!

Maybe somewhere in the middle is more realistic, 15 grand as opposed to 30. Have many sold though and at what price? Not the valuation, what they actually sold for?

GasPanic · 07/06/2023 19:19

berryfull · 07/06/2023 16:41

But there are indentical flats in the same street. There is one in at 30 grand more than mine that is indentical apart from it’s been whitewashed and doesn’t have kitchen moved. But the kitchen in that is old and basic, nothing special. It has had cheap grey carpet put through it. Ours has oak flooring all the way through that we put it. Same company!

Well if you think it is worth that much don't work yourself up about the sheer audacity of the agent valuing it at 30K lower :)

Put it on at the higher price then and see what happens.

The market will tell you if you are right or not.

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