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Are house valuations free?

Thomas Miller
31.01.2023, 07:29
4 min
Table of Contents

What’s my house worth?

Everyone wants to think that their home is a little better than it is. If you are selling your house, it is important to know what its true value is.

Figuring it out on your own is quite difficult. The worth of your house can be determined when professionals have done their due diligence in appraising it. This can be done by professional appraisers, real estate agents, or automated valuation models.

Can you get a free house valuation?

An estimated sale price for your home or apartment in the present market is known as a property valuation. Online or in-person home valuations are also a very effective option, and most are cost-free.

Additionally, real estate agents mostly make valuations on your property for free.

Free house valuations from a real estate agent

Real Estate agents frequently offer free valuations because they understand that this is an excellent opportunity 

  • to show you the property, 
  • promote their services, 
  • and gain your business. 
  • Customer interaction time is a crucial component of the estate agent’s business strategy

Real estate agents use a comparative market analysis to evaluate your property. An assessment of a home's value known as a comparative market analysis (CMA) is used by both sellers and purchasers to help them determine listing prices and create competitive offers. The examination takes into account the subject property's location, age, size, structure, style, condition, and other elements.

To mention a few: 

  • The location of the property:
    Real estate that is valuable must be located. Those in cities with little opportunity for growth are typically more expensive than homes in locations with lots of space. 
    Take into account a neighbourhood’s accessibility, aesthetics, and facilities in addition to any growth plans.
  • The condition of the property: 
    Making an evaluation of the capital expenses that will likely be required to maintain the property in the short and long term.
  • The condition of the housing market in the area or locality
    If the market rate is advantageous to sellers more than buyers, then it is a piece of good news for you.
  • The number of bedrooms and bathrooms and whether there have been recent changes or renovations made on the property.

The ideal person to assist you to establish the price based on how well your home compares to the competition is your real estate agent because he is near the market.

They can then go to the property to properly evaluate it. Although software can be a good place to start, it is more precise to assess a property after a physical valuation, because so much of its value depends on its condition and liveability.

Free house valuations online

Automated online valuation tools are also a sure and easy way to get your property valued at absolutely no cost at all. Online valuations can provide instantly a substantial valuation on your house. 

Millions of bits of information, including sold property prices in your neighbourhood, current market trends, and the size of your home, are used to create online valuations.

If you have never before or recently appraised your property, this is an excellent place to start, you will receive a detailed report valuation of your home.

Some of these online tools may present precise automated valuations for standard properties for which there may be many recorded transactions in their database. This is so because these online tools mostly use comparable properties that may be similar to your properties to get a rough estimate of your own house.

  • The majority of online valuations are free, and you can enter the information about your home whenever it's convenient for you without having to even pick up the phone to speak to anyone or leave the comfort of your home.
  • The ability to check the house sales prices of comparable properties in the area that they are interested in purchasing and compare them to properties that are currently on the market makes them a useful reference tool for buyers as well.

The information outlined are necessary facts about free house valuation

  • Make valuable use of online valuation tools but do not entirely depend on them. They only give you an estimated value of your house as the value may not entirely represent the true value of your house.
  • Get a thorough value of your house by allowing local real estate agents to give you a careful assessment of the value of your property. Be informed that most of them offer a free valuation on your property.
  • Even though online valuations may be effective, their comparison method may not give you an exact valuation price on your house. This is because there may be unique and significant variations in the build-up structure of your house compared to others that may be similar.
  • Try and retain the service of real estate agents who have already given you a free valuation of your property as they can be reliable in seeing to it that your property gets the best price in the market. 

FAQ

What other way do I have to get a human to value my home?

You may also simply input your postcode and a few personal details, and RealAdvisor will connect you to local agents with local area knowledge who are marketing properties in your local region.

If I choose not to sell my UK property, do I still owe estate agent fees?

Therefore, in most cases, you won't have to pay your estate agent anything if you decide not to sell before you've exchanged contracts with a buyer.

After getting a house valuation online, what should I do?

If you're just interested in an estimate, great! It's all done now. But if you're considering selling (now or in the future), it's a good idea to invite an estate agent around for a more individualised appraisal. They will be able to apply their market expertise and take into account all the elements that an automatic tool can't, like special selling points and covert competitors.

Thomas Miller
Thomas Miller has been a real estate agent for over 4 years now, when he is not in the field, he is dedicated to his second passion, writing, especially in the real estate market.
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