Property Valuations Made Simple – A Homeowner’s Guide

One of the most common things people ask us as estate agents is ‘what’s my house worth?’. The answer is not a fixed number carved in stone. It’s a property valuation – our way of saying, based on today’s market and what we know, here’s what your home could sell for.

We see valuations as more than just figures on a page. They’re the start of the process to get you moving home. Sometimes it’s curiosity, sometimes it’s serious plans. Either way, we believe a clear valuation opens doors.

 

What Is A Property Valuation?

Put simply, a property valuation is the process of working out what your home is worth in the current market. It’s an informed estimate, based on local sales evidence, knowledge of buyer demand, and the specific details of your property. Unlike a full survey, which checks the structure and condition, a valuation is about price – what someone is likely to pay if your house went on the market today.

For homeowners, this figure is the starting point. It helps you decide whether now is the right time to sell, refinance, or just keep an eye on how your biggest asset is performing against the market.

Who Carries Out A Property Valuation?

We do. Estate agents like us carry out thousands every year. It’s free, straightforward, and tailored to your local area. Because we’re on the ground daily, we know what’s selling right now. That’s the value of using an agent.

Surveyors also carry out valuations. Usually more formal, often for banks, mortgages, or legal matters. They provide what’s called a RICS Red Book report. Essential sometimes, but not always necessary if your goal is selling.

Corporations like lenders, accountants, and even insurance companies rely on valuations too. We mention this because valuations aren’t just about homes changing hands – but for you, the homeowner, the most exciting reason is usually about selling and moving on.

 

How Much Does A Property Valuation Cost?

When you invite Lux Homes to value your property, it costs nothing. We see it as part of our service. We’ll walk through your home, talk with you about the positives, and give honest advice on pricing and presentation.

Surveyors, by contrast, will usually charge. Fees can start at around £150 and rise depending on the depth of the report. Mortgage lenders may also include valuation costs as part of their process.

It’s worth pointing out that a valuation is not the same thing as a full property survey. A valuation is focused on estimating market value, often for selling or lending purposes. A survey, on the other hand, digs much deeper into the property’s structure and condition – things like damp, roofing, electrics, and potential repairs. If you want to know more about surveys and when they’re necessary, you can read our guide here:Is a survey necessary when buying a home?

How Is A Property Valuation Completed?

We visit, we look, we talk. Simple as that.

We’ll walk through your home, check the layout, the feel, the condition. We’ll ask what improvements you’ve made. Maybe you’ve added a new kitchen, maybe you’ve redecorated top to bottom. We combine this with data from similar homes sold nearby. That way you get a figure grounded in reality, not guesswork.

Surveyors approach differently. Tape measures out, photographs taken, structural notes. Less focus on décor, more on bricks and mortar.

Banks sometimes don’t visit at all – they do what’s called a desktop valuation. They’ll compare numbers and past sales without ever stepping inside. Quick, but it misses the human side.

Our way? Always personal. Always local knowledge. Always thinking about the market right now.

 

What Factors Can Affect A House Valuation?

We remind clients all the time – it’s not just square footage. Little details add up. Here’s what we always consider:

Location

You’ve heard it before, but it’s true. School catchments, train stations, quiet roads, even where the sun sets. Buyers pay more for the right spot.

Condition

Fresh paint, modern fittings, clean and tidy presentation. These boost the figure. Damp patches, peeling wallpaper, clutter – they drag it down. We see it happen daily.

Size & Layout

Not all three-beds are equal. Spacious doubles feel better than box rooms. A flowing open-plan kitchen often adds more than raw floor space.

Market Conditions

The wider economy matters. Interest rates, demand levels, seasonal trends. A hot market means higher valuations. A quiet one, less so.

Potential For Improvement

Even if you’ve not extended yet, a big loft or wide garden can add value. Buyers love to imagine what could be done.

Extras That Count

Parking, gardens, period features, storage space. Mobile signal and broadband speed too – yes, really. We’ve seen buyers walk away because of poor Wi-Fi.

Neighbours And Kerb Appeal

Your house can be perfect inside, but if next door looks run down, or the front garden’s overgrown, buyers hesitate. First impressions matter more than people think.

 

What Does A Property Valuation Include?

From us? You’ll get:

• A clear guide price (sometimes a range).
  

• Comparisons with recent local sales.
  

• Honest advice on how best to market.
  

• Tips on simple things that could lift value fast.
  
  

Surveyors’ reports go further into structure and risk. Useful for lenders, less relevant for selling.

Our aim is always to give you a true sense of what you could achieve if you placed your home on the market.

 

Other Reasons People Need Valuations

Yes, selling is the big one. But valuations are also needed for probate, divorce, remortgaging, tax planning, or business accounts.

We do point this out, though most homeowners we meet are focused on moving. For us, valuations tied to selling are where our expertise really shines.

 

Why Can A Valuation Differ From Market Price?

Valuation is guidance. Market price is reality.

We can tell you £400,000, but on that day one buyer may fall in love with your garden and bid more. Another might dislike the bathroom tiles and bid less.

The valuation is the compass. The market journey decides the destination. That’s why we often recommend preparing your home properly for both house viewings once on the market, and the initial valuation. These little changes sometimes push the selling price beyond even the valuation.

 

Should You Get Your House Valued Regularly?

Some people like to check every year or so just to keep track. There’s nothing wrong with that, it gives you a rough idea of how the market is moving. Online tools can be useful for this, and they’re quick if you’re only curious.

But a full estate agent valuation, like the ones we carry out, is really designed for when you’re thinking about selling. That’s when accuracy matters most, because the figure we give becomes the starting point for your marketing price.

So in short, it’s not a bad idea to know the general value of your home from time to time, but when the moment comes to sell, that’s when you’ll need us to step in with a proper valuation.

 

Why Our Approach Matters

At Lux Homes we don’t just throw numbers at you. We explain, we advise, and we give you strategies. Sometimes it’s “list now, the market is strong.” Sometimes it’s “wait a little, add some value first.”

We’ve seen sellers boost their asking price just by repainting, fixing the garden, or staging rooms better. That’s why our valuations are practical, not just theoretical.

 

Need A Property Valuation?

A property valuation is where the moving journey begins. Yes, surveyors, banks, and corporations use them for their own needs. But for you, the homeowner, the real excitement lies in knowing what your home could sell for today.

We’re here to help. Whether you want to book a free visit with our Hornchurch Estate Agents or Brentwood Estate Agents office, or if you’d just like a rough figure right now for your property in these areas using our instant valuation tool, you’ll always get honest, local, and expert advice.

So if you’ve been wondering “what’s my house worth?”, why not find out today? The number could surprise you. And it might be the very first step to your next move.