Are you in the early stages of planning a move? Wondering if it’s too soon to arrange a valuation of your home? Whether you’re just curious about your home’s value or gearing up to sell, understanding the different valuation options can help you make informed decisions. Here’s a breakdown of the most common methods, their accuracy, and how they fit into your moving journey.
Why Is a Property Valuation Important?
Knowing the value of your home is essential for setting a budget for your next property and understanding the equity tied up in your current home. Even if you’re not quite ready to sell, having an idea of your property’s value can help you plan.
The good news? There are three main ways to value your property, ranging from quick estimates to in-depth assessments. Each comes with its own level of accuracy and commitment, so you can choose the one that suits your situation best.
1. Online Valuations – A Quick Starting Point
Commitment Level: None
Accuracy: Limited
Online property valuations are the easiest way to get a rough idea of your home’s worth. Using an algorithm, these tools estimate your property’s value based on the original purchase price, recent local sales, and current market trends.
You can complete an online valuation in minutes; anytime, anywhere. No appointments, no hassle. However, because these valuations don’t account for improvements you’ve made to your property or its current condition, the results can lack accuracy. Still, they’re an excellent starting point when you’re just exploring your options.
2. Virtual Valuations – A Personal Touch
Commitment Level: Moderate
Accuracy: Better
Virtual valuations became popular during the pandemic and remain a convenient option. These valuations are conducted by a real estate expert who assesses your property using photos, videos, and local market knowledge.
Unlike online tools, a virtual valuation incorporates a professional’s expertise, giving you a more tailored estimate. You don’t need to prep your home for an in-person visit, and it’s a comfortable option for homeowners who aren’t quite ready for a full valuation. While more accurate than an online valuation, virtual assessments can still have some limitations since the agent can’t physically inspect your property.
3. In-Person Valuations – The Gold Standard
Commitment Level: High
Accuracy: Excellent
When you’re ready to put your property on the market, an in-person valuation is the best choice. A local expert will visit your home to thoroughly assess its condition, features, and upgrades. This method provides the most accurate valuation and ensures you have the confidence to price your property correctly.
An in-person valuation takes more time and preparation, but it’s the ideal option if you’re serious about selling.
Which Valuation Is Right for You?
Each method has its pros and cons, but there’s an option for every stage of your journey.
- Curious about your home’s worth? Start with an online valuation.
- Looking for more insight but not quite ready to sell? Try a virtual valuation.
- Ready to put your property on the market? Book an in-person valuation for a precise assessment.
If you’d like to learn more about the valuation process or book an appointment, Fisher and Partners is here to help. Contact our team of property-selling experts today to find out which valuation option suits your needs best. We’d be delighted to help you take the next step in your moving journey!
