In this lesson, we will be looking at how to asses the potential value of a property.
Of course, when you have a specific property in mind, a surveyor will provide you with a lot of information and nothing here can replace the value that a surveyor can bring to the table.
However, the method here can give you a pretty good starting point for a valuation.
We will be using Rightmove again.
- You’ll need to set a wide price range and search properties in the area.
- Then, using the map feature, click on other properties and see what they are selling for.
- From this, you will be able to get an average price for houses in the area (there will be outliers but all you want is a starting point).
- Afterwards, you will need to navigate to ‘sold house prices’ to see the properties that have sold in the area and for what price.
- Then combine your two averages and you will have a complete picture of house prices in the area.
By doing this you will have a decent understanding of house prices, which will help you when you are preparing your offer.