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How much is my house worth?
egg345
Posts: 89 Forumite
Bought for 280k in May 2004. selling now privately. how much do you reckon I should ask? Want quick sale but at optimum best price as very broke, having to downsize. Thanks!!
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Comments
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Where are you? All house prices are local.
Check out recent sales of similar properties in your area on NetHousePrices0 -
Unfortunately were not psychic
What I recommend is to ask an estate agent around to value it for you0 -
It's only worth what someone else will pay for it. An estate agent will give you a guide, but no-one will know for certain until someone actually buys it.Warning ..... I'm a peri-menopausal axe-wielding maniac
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Use this calculator to give you an idea. You input the original price and date and the area where you live, it gives you a guide price for the most recent quarter. Not that accurate but an indicator.
http://www.nationwide.co.uk/hpi/calculator.asp
I put my house in that we bought in January 1993 it over estimated by 10% our selling price (actually not marketed).I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
NW index is useful for a very rough guide but within the regions there are wide variations in how much prices have risen. Comparisons with other similar props in the area for sale or recently sold should help as well.
But as others have suggested local EA's are the best source of a realistic valuation but don't just get one, ask at least 3 to value it. They'll do so free in the hope/expectation you may sell it through them. If your private sale plan doesn't come off, not always easy to find a private buyer particularly for more expensive props, you'll also have quotes from them for selling.
BoL.0 -
I agree.
The Nationwide calculator was 35% out for my house bought in 1999.0 -
As DebtFreeChick and IanW both correctly say, a house is only worth what someone will pay for it.
Valuers, Surveyors etc all do the same thing to assess the value of a house. They will look around it, measure it's sq footage then visit local agents an ask for comparable properties and their 'sold' prices, not their 'selling' prices.
Do it the best way and get at least 3 local agents out to value it. Ask them to bring comparable properties with them so you can see the basis for their valuation.
Any good agent will be delighted to do this for you.
Andy0 -
Never said go with the highest.
Also Original Poster just wants an idea of value as he is intending to sell privately so fees don't really come into it, unless he changes his mind later.
Andy0 -
:beer:
No worries
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egg345 wrote:Bought for 280k in May 2004. selling now privately. how much do you reckon I should ask? Want quick sale but at optimum best price as very broke, having to downsize. Thanks!!
I'll give you £1 million for it.
Anyone want to beat that with a suitably inflated price? Should have his house "worth" £10 million in no time at all!0
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