Unique proper - How do I find what its worth?

dora37

I am interested in a property, which I am trying to get a viewing on (that in itself is proving to be difficult!).

The problem I have is because it is a individual property amongst quite a diverse range of properties, how do I value its worth?

I think the property has been up for sale for a few months @ £354,950. Other properties seem to offer more accomodation wise (ensuites etc), so how much is added to a property for its age?

I have put a link to the property on Rightmove - any ideas?

http://www.rightmove.co.uk/viewdetails-6332299.rsp?pa_n=1&tr_t=buy

(Let me know if the link isn't allowed and I shall remove)

HouseHunter_2

can you see on https://www.houseprices.co.uk or something similar how much it was bought for and when? It looks as though it has been done up by a developer, so no doubt they'll be wanting top dollar for it. It DOES look gorgeous though!

dora37

HouseHunter wrote:

can you see on https://www.houseprices.co.uk or something similar how much it was bought for and when? It looks as though it has been done up by a developer, so no doubt they'll be wanting top dollar for it. It DOES look gorgeous though!

It isn't on any of the sites I have checked that go back 5 or 6 years. It is a family that live there at present, however I don't know how long for.

boy_3

Free sold prices:
rightmove.co.uk, upmystreet.com etc.

You can get Title plan and register from Land Registry which normally includes latest sold prices (costs £2 each, it was worth it for me, try the same as well as adjoining properties), it will certainly be here even if it was sold couple of months back:
http://www.landregisteronline.gov.uk/

You can get Current Valuations & Actual Prices Paid here in 2.85£ (have not tried it myself):
http://www.mouseprice.com/

There is always an option to go for professional valution from a specialist. Could be worth it in this price range.

Doozergirl

That is a beautiful looking house. The vendors look to have done a really good job of it on face value!

It is quite hard to value a property that is very different to others. Period properties do carry quite a hefty price tag when compared to new houses, because they don't make them anymore! It can be a case of trial and error for the vendor with regard to asking price, but I think that estate agents generally go by square footage when compared to similar aged properties. You may have to look further afield in surrounding villages for comparables, considering price differentials between villages. £354,000 looks like a relatively sensible price for that house in my part of Worcestershire, but that doesn't perhaps help you!

Debt_Free_Chick

That's quite an interesting property. More than likely, the "improvements" have actually devalued the property. It looks like a Victorian "gentleman's residence" and would originally have been full of original features including picture rails, dado rails, ornamental cornices & ceiling roses. (The details refer to "original features" but there's little evidence on the photos - you'd need to view and judge for yourself. Can't see evidence of the original skirting boards .... for example).

Why not call around a few agents and ask for a ball-park figure for four bedroom, double fronted Victorian house in the same area.

Interestingly, the master bedroom has a dressing room, but no en-suite bathroom.

It's not a "unique" house as such. Why not search Rightmove for all 4-bedroom detached houses in that area and have a look through the results. It will certainly show you what else you could get for your money.

HTH

dora37

I'm normally quite savvy, when a property goes up for sale and can usually immediately guess (!) whether it's overpriced or not.

Like I said previously, my gut feeling based on other properties is that it is overpriced, but that is based on solely accomodation...however there is probably going to be a premium for this property due to its age and uniqueness in the area, but I don't know how to calculate how much that premium would be.

Debt_Free_Chick

dora37 wrote:

I'm normally quite savvy, when a property goes up for sale and can usually immediately guess (!) whether it's overpriced or not.

Like I said previously, my gut feeling based on other properties is that it is overpriced, but that is based on solely accomodation...

I agree, purely on a search on Rightmove and looking at other properties in the range £300,000 to £400,000 - but that included new-builds and other houses built more recently.

however there is probably going to be a premium for this property due to its age and uniqueness in the area, but I don't know how to calculate how much that premium would be.

Whatever you're prepared to pay for it, as it will differ from person to person. For example, I would have paid a premium for all the original features - other people hate them as "dust traps" or "museum pieces" :rotfl:

dora37

Debt_Free_Chick wrote:

That's quite an interesting property. More than likely, the "improvements" have actually devalued the property. It looks like a Victorian "gentleman's residence" and would originally have been full of original features including picture rails, dado rails, ornamental cornices & ceiling roses. (The details refer to "original features" but there's little evidence on the photos - you'd need to view and judge for yourself. Can't see evidence of the original skirting boards .... for example).

Why not call around a few agents and ask for a ball-park figure for four bedroom, double fronted Victorian house in the same area.

Interestingly, the master bedroom has a dressing room, but no en-suite bathroom.

It's not a "unique" house as such. Why not search Rightmove for all 4-bedroom detached houses in that area and have a look through the results. It will certainly show you what else you could get for your money.

HTH

Obviously these points would need to be addressed when viewing the property. I am in the inital stages of basically is it worth looking further into.

It is a unique house for the area, in the fact there are not any similar ones! Within a 1.5 radius, most of the 4 beds are new/newish builds.

The fact it doesn't have an ensuite and the kitchen is quite small, makes me think that it is overpriced.

Like I said previously, if there were similar properties then it would be easy to compare.