Near to true value of house??

fitzykev

Is there anywhere to find the near to true value of a house? I find zoopla to be away out

lookstraightahead

What someone will pay for it, and then what a lender thinks it's worth if a mortgage is applicable.

usually less than what the vendor thinks 😂

Individual houses are much more difficult than lots the same.

also an agent could value it on who they have on their books. Also what the market is doing. Previous sale price, square footage etc.

fitzykev

Yes I understand. What I mean is to a surveyor who's  sole purpose is to evaluate the bricks and mortar. Is there anywhere to find an estimate close to the true value thst would come close to a surveyors value? 

Getting_greyer

Do you mean for rebuild insurance purposes?

comeandgo

Pay a surveyor and ask them to value it for whichever event you want, is it to buy, to sell, to rebuild?  It’s not an exact science, two surveyors will have two different answers.

fitzykev

I bought a bungalow. There is no other bungalows in the area really to compare. I want to know if I have went over priced on the bidding. Although I know the surveyor only looks at bricks and mortar, this place Is worth it's weight in gold to me because of schools and in terms of keeping my son in an area with very low crime and drugs. I want the best start but obviously a surveyor won't take this into account. 

comeandgo

Well, if you have bought it then that’s what it’s worth to you.  You will need to get a rebuild value for insurance.  

Waunakee

From the OPs many other threads regarding this purchase it would appear that they have had an offer accepted on this property very recently and are about to embark on the conveyancing process.

TheJP

fitzykev said:

I bought a bungalow. There is no other bungalows in the area really to compare. I want to know if I have went over priced on the bidding. Although I know the surveyor only looks at bricks and mortar, this place Is worth it's weight in gold to me because of schools and in terms of keeping my son in an area with very low crime and drugs. I want the best start but obviously a surveyor won't take this into account. 

That is how you work out the value to you. The fact its worth its weight in gold because of schools and crime area etc means whatever you pay is good value for what you want, of course if mortgaging then as long as the lender agrees.

TheJP

Another example on what i mean is my friends recent scenario.

He wants to live in a certain area (family close by and schools), he also wants a big well established garden. The house he has found is very dated internally, structurally its sound but he needs to spend a lot of time and money modernising it. Similar properties in the area that sold a few years back that don't need as much work were cheaper. Once the house is updated he will never leave and it fits his and his families needs. He decided to pay extra and then invest as there are certain elements he wont compromise on. he has enough equity in his sale to ensure he can afford any difference in value.

Woolsery

fitzykev said:

this place Is worth it's weight in gold to me because of schools and in terms of keeping my son in an area with very low crime and drugs. I want the best start but obviously a surveyor won't take this into account. 

They will, because each area has a desirability factor reflected in local prices of all property. Area A in a city with high rates of crime and poor appearance won't have prices as high as Area B where there is less crime and pleasant street scenes.

Of course, this can alter over time as areas are 'gentrified,' or even quite quickly if a particular feature enables it. For example, since work from home and the desire for more outdoor space have trended upwards, my home area has risen in desirability and overall prices have increased over the past 2 years.