Will estate agent give valuation if you don't intend on moving?

kitrat

We want to have the garage and driveway on our property rebuilt as the current structure is old/botched/in poor state of repair. However, the first quote came back significantly higher than expected. After discussion with another builder it seems like we were naïve about how much it would cost.

We of course will seek further quotes. However, we'd like an opinion on whether putting that much money into the house is worth it, since we're not sure that we won't move again in 3-5yrs time. The house has only a small downstairs bathroom, with a small en-suite shower room upstairs. I expect this limits the potential upper value of the house. I'd like an idea of how much value rebuilding the garage could realistically add to the house and therefore if it's sensible to proceed with the build.

Are estate agents generally willing to value a house and give this advice? Considering I'm not interested in moving right now it seems a bit of an ask but I've never been in this position before. It's a bit tricky to compare to other houses around as none seem to be very similar and don't sell frequently. Also just a 5 minute walk and house prices for the same square footage vary wildly.

uralmaid

No not usually. Not if you start asking them those sort of questions. Estate Agents only want to value so that you will put the house up for sale.  You could get a surveyors appointment and they will give that sort of advice but you would have to pay a fee.

wannabe_a_saver

If you want to get free valuations from estate agents you'll have to pretend you're at least considering thinking of selling.  They only do it to get business, not as a public service!

moneysavinghero

You could pay them to value the house. Or you could not tell them the real reason you want the valuation and just act like you are actually going to be selling it - and then when if they chase up if you want to instruct them just say you decided to go with another agent.

kitrat

Thanks for the replies

Yes I thought it would have to involve lying, which I wouldn't be any good at!

Perhaps I'll look at the surveyor option.

UnderOffer

I’d enquired about a house for sale at an EA but was told it was sold. They offered to value ours but I was very clear that we hadn’t really thought about selling seriously just yet, I was just asking about the other property and wanted some details, but they were keen and insistent so I let them come and they were more than happy to value ours with no obligation to put on market. This was all pre COVID though. 

swingaloo2

It is something estate agents will do for a charge. My sister had her house valued by an eatate agent, she was upfront about not being ready to sell but was going to divorce and so needed the valuation. The estate agent said it was something they did quite often and they charged her £40 to give a written valuation.
Shop around though as one agent she spoke to charged £85 for the same thing.

GDB2222

kitrat said:

Thanks for the replies

Yes I thought it would have to involve lying, which I wouldn't be any good at!

Perhaps I'll look at the surveyor option.

Good answer. Well done, and don't change that.

As a general rule, most building work doesn't add any more to the house value than it costs to do. After all, if you can do it, so can a buyer.

Aspiration

This evening I had an estate agent around and I was quite honest. We purchased the house from them and planned on doing an extension etc and wanted to chat where the ceiling price is and house caps out.

He was incredibly helpful, sending me some floor plans that he’s seen recently that other buyers liked and gave some great advice.

When we do sell, I’ll be looking to use him to sell and I’ll also be asking him to keep me in mind for any suitable houses in the location I’m after. 

Definitely helps to build a relationship if possible. 

AlexMac

You're over-thinking this.  Round here, EAs are so desperate for houses to sell (flyers throughthe door every couple of months) that they'd probably come round and clean your car if you hinted that would get them into the house to do a sale valuation...


So just schmooze a couple of local firms...

They can only say no.  We got two firms round in the brief gap between lockdowns last summer as we were only tentatively thinking of selling... they advised... we decided not to sell.  

No hard feelings

ratechaser

AlexMac said:

You're over-thinking this.  Round here, EAs are so desperate for houses to sell (flyers throughthe door every couple of months) that they'd probably come round and clean your car if you hinted that would get them into the house to do a sale valuation...


So just schmooze a couple of local firms...

They can only say no.  We got two firms round in the brief gap between lockdowns last summer as we were only tentatively thinking of selling... they advised... we decided not to sell.  

No hard feelings

This... houses where I am fly off the shelf, and we probably get 1-2 leaflets a week from EAs desperate to value our house - last one started "Thinking of selling, or just curious?"

Yes they are a business but they know that people just want a free valuation and they see it as a price of doing business and also a chance to get a first foot in the door in building a potential future relationship.