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Ever wondered how a property valuation is worked out?

Tue 1 March 2022

Online valuation tools are great and certainly serve a purpose, but if you want to truly know what your house is worth, you’re best to ask an experienced estate agent.

There are two sides to providing a property valuation. Firstly, the key factors which are:

·       Size

·       Location

·       Local prices

Then there are the unique factors, and the reason why it’s best that a property valuer visits your home:

·       The condition of the property

·       Any extensions or changes you’ve made to the property, and the quality of the work

·       Quality fixtures and fittings that will come as part of the house sale

Your personal situation can also have an impact on the valuation of your property, such as a need to sell quickly or to get the most money for your property.

Peter Buckingham, Sales Director of Andrew Granger & Co in Market Harborough, says: “Every home is different, and deserves an experienced opinion as to its value. So many factors are considered when valuing a property, but at the end of the day, a good valuer will also take into account the price buyers would be willing to pay for your home.

“Some agents do not run a mailing list at all, whereas we know our marketplace well, and have buyers at our fingertips and ready to move.”

Nigel Weller, Valuer at Andrew Granger & Co in Market Harborough, adds: “I particularly like to hear why the current owners bought the property in the first place, what was appealing to them, and what has worked well for them in living in the home, e.g. location, amenities, school catchment area, commute time, the views, and how the living space works for them. It really helps in understanding the property and the market it will appeal to. 

“It’s also important to agree a pricing strategy together with the client. This is normally based upon their personal circumstances, their motivation, and their timescale.”

You may have been a little surprised to hear what goes into working out the valuation of a property but ultimately our advice would always be to ask your local property expert for a free valuation, and to get a number of valuations.

Andrew Granger & Co has been providing property services for over 32 years across Leicestershire and Northamptonshire, from offices based in Market Harborough, Leicester, and Loughborough. For expert property advice get in touch at