What is involved in a house valuation?

FashionHeart

Hello

I am thinking of selling my property in order to move into a new build maybe next year and currently in the process of getting my house valued first so that I know how much I can afford to buy a (literally) new property.

I've not sold a house before, so I want a breakdown of what actually happens during a valuation.

Also I am having my kitchen refurbished in March, so would it be better to have it valued now or after the refurb?

Many thanks.

p00hsticks

Usually you get a few estate agents round and they'll have a quick wander round, ask a few questions and then tell you what they'd put in on the market for and what they think you'll get (not necessarily the same thing!)

Why are you having the kitchen refurbed if you are planning on selling ? You almost certainly won't get the money you spend on it back in increased value, although it may make it more saleable.

FashionHeart

p00hsticks said:

Usually you get a few estate agents round and they'll have a quick wander round, ask a few questions and then tell you what they'd put in on the market for and what they think you'll get (not necessarily the same thing!)

Why are you having the kitchen refurbed if you are planning on selling ? You almost certainly won;t get the money you spend on it back in increased value, although it may make it more saleable.

Saying from personal experience of house hunting, the houses I've seen hasn't been worth the price they are asking for.
In my opinion I think it will make it more appealing to prospective buyers.
Also the kitchen is very vintage and hasn't been touched since it was built 30 years ago.

p00hsticks

FashionHeart said:

p00hsticks said:

Usually you get a few estate agents round and they'll have a quick wander round, ask a few questions and then tell you what they'd put in on the market for and what they think you'll get (not necessarily the same thing!)

Why are you having the kitchen refurbed if you are planning on selling ? You almost certainly won;t get the money you spend on it back in increased value, although it may make it more saleable.

Saying from personal experience of house hunting, the houses I've seen hasn't been worth the price they are asking for.
In my opinion I think it will make it more appealing to prospective buyers.
Also the kitchen is very vintage and hasn't been touched since it was built 30 years ago.

Unless you have committed yourself to having the kitchen done, I'd suggest getting some estate agents in now to value it and ask how easy the property is to sell, and how much difference a new kitchen would make, and see what they say .

Is the rest of the house up to date ?  

NameUnavailable

The problem is that your taste in a kitchen might not be your prospective buyers taste and it could actually put some buyers off if they think they will want to rip out a new kitchen after buying!

If you do go ahead with it, choose white units and a wood or dark grey/slate colour worktop, being neutral and less likely to offend anyone!

lookstraightahead

Don't alter anything - most people want to change things. Remember a kitchen is second hand so what value is a few wooden cupboards snd maybe a secondhand cooker? And buyers need to have the same taste.

alwsys found it intriguing when estate agents say "brand new" when it isn't to the buyer.

lookstraightahead

FashionHeart said:

p00hsticks said:

Usually you get a few estate agents round and they'll have a quick wander round, ask a few questions and then tell you what they'd put in on the market for and what they think you'll get (not necessarily the same thing!)

Why are you having the kitchen refurbed if you are planning on selling ? You almost certainly won;t get the money you spend on it back in increased value, although it may make it more saleable.

Saying from personal experience of house hunting, the houses I've seen hasn't been worth the price they are asking for.
In my opinion I think it will make it more appealing to prospective buyers.
Also the kitchen is very vintage and hasn't been touched since it was built 30 years ago.

What about the rest of your house? Will it look out of place? 

Slithery

FashionHeart said:

Also I am having my kitchen refurbished in March, so would it be better to have it valued now or after the refurb?

Why on earth are you doing that?

It will cost you more money to fit a new kitchen than you'll get back on the house price. You also risk putting in a new kitchen that your buyers hate, so will rip out anyway even if it is brand new.

MalMonroe

I also wouldn't have a kitchen refurb if you're selling. So, valuation but no refurb. You can bet that any refurb will not be to a prospective buyer's taste. If they want a refurb they'll want to do it themselves. Let them have their fun and save yourself all the hassle and expense. Some people really do prefer to buy 'doer-uppers' so that their home is to their own taste and they don't have to start spending money on removing what somebody else has chosen for them.

When I was a property owner and wanted to sell I would get three estate agents' valuations which were usually very similar.  Once I'd chosen who I wanted to act for me, they'd come back and take photos and measure the rooms properly and ask about viewing arrangements, etc. If you want more info you can always phone one of your local estate agents to chat about what they do.  

You say "from personal experience of house hunting, the houses I've seen hasn't been worth the price they are asking for.

In my opinion I think it will make it more appealing to prospective buyers.

Also the kitchen is very vintage and hasn't been touched since it was built 30 years ago."

But if those are the average house prices in your area, then those are the prices the houses you have seen are worth.

Just because having a refurbished kitchen is something that appeals to you doesn't mean that it will appeal to buyers. Not everyone is the same.

It doesn't matter if the kitchen is vintage. You'd be wasting your time and money having a refurbishment at this stage.

Mahsroh

I’m going to offer an alternative view on the kitchen as I don’t think it’s a clear cut as other posters are making out. 

Generally I agree it’s a bad idea, but check with the EA. For me it depends on the type of property. Is it likely to appeal more to first time buyers (ie a flat or small house)? If so it *might* be worth it depending on the cost. When I was a FTB I knew I wasn’t going to have spare cash after completing to overhaul kitchens and bathrooms so was generally looking for something that had fairly new / modern facilities that I could live with for several years. Anything that had a 20 year old kitchen that needed ripping out was dismissed, because I knew I couldn’t afford to do it. If it’s a bigger / more expensive family home then I agree don’t even entertain it. 

See what the EA says. 

FashionHeart

MalMonroe said:

I also wouldn't have a kitchen refurb if you're selling. So, valuation but no refurb. You can bet that any refurb will not be to a prospective buyer's taste. If they want a refurb they'll want to do it themselves. Let them have their fun and save yourself all the hassle and expense. Some people really do prefer to buy 'doer-uppers' so that their home is to their own taste and they don't have to start spending money on removing what somebody else has chosen for them.

When I was a property owner and wanted to sell I would get three estate agents' valuations which were usually very similar.  Once I'd chosen who I wanted to act for me, they'd come back and take photos and measure the rooms properly and ask about viewing arrangements, etc. If you want more info you can always phone one of your local estate agents to chat about what they do.  

You say "from personal experience of house hunting, the houses I've seen hasn't been worth the price they are asking for.

In my opinion I think it will make it more appealing to prospective buyers.

Also the kitchen is very vintage and hasn't been touched since it was built 30 years ago."

But if those are the average house prices in your area, then those are the prices the houses you have seen are worth.

Just because having a refurbished kitchen is something that appeals to you doesn't mean that it will appeal to buyers. Not everyone is the same.

It doesn't matter if the kitchen is vintage. You'd be wasting your time and money having a refurbishment at this stage.

Yes I do understand that but it won't be anything too over the top or fancy.
It's just going to be neutral colours, mainly cream and white - albeit a simple style shaker kitchen with high end appliances.

Isn't the whole reason why people refurb a house is to make it more appealing to buyers when they sell?!

The house itself is a 3 bed detached, has a lot of spacious features to it - has a conservatory, a detached garage and 3 bathrooms.
I'm selling for various reasons, but mainly for easy access to public transport which is proving very difficult where I live right now.
The new build is only about 10 minutes away from it.