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Guessing the price of a house

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  • Guessing the price of a house

    I had my head totally immersed in the property market for a good year before I bought. I would load up estate agent sites every night and go through new properties and remind myself of older ones.

    Anyway, the other night my mum rang, we chatted - then she happened to mention that my Grandad was considering selling his house and buying one next door to my mum that just came up for sale.

    The reasons for the move is that he's got health problems but currently lives a good 45 mins drive from her - he's near Selby and she's in Hull.

    Anyway, my mum asked me to guess how much his house was worth...

    I figured 3 bedroom bungalow with sunroom extension in a nice quiet village, commuting distance to Selby, York, even Leeds - £180,000.

    Spot on.

    Then she asked if I could guess how much the house next door was worth.

    Let's see - small 4 bedroomed, probably in need of some upgrading - but desirable area (Kirkella, the nicer part of Hull). Okay - somewhere between £200,000-£210,000.

    It's selling for £200,000.

    Although I had been planning to move to Scotland, and really focused on the prices there, I did put my head into looking at prices back home in Hull, for comparison.

    Hm, maybe I should get a job as an estate agent myself?

  • #2
    haha, yeah, you're pretty good brian..that's quite impressive..


    • #3
      Maybe you should Brian!
      I have no clue when it comes to estimating houses, im either way off or way way too much.
      I think it maybe as I havent gotten onto the property ladder as yet and these things will come to me once im there!


      • #4
        Excellent work. You might actually enjoy the niche I think. People tend to enjoy areas in which they excel. I know a guy who can do that with antiques. Personally I have to always get an appraisal.


        • #5
          That depends so much on what kind of house and where it's located that there is no way to answer your question.


          • #6
            If you want to get a good idea of a price, it's probably best to get a valuation report. These are often offered for free online, Zoopla is a good place to start for a basic, free valuation. If you're looking to get an accurate price, a RICS Surveyor will be happy to carry this out for you.

            If you're a home buyer, valuation can be included in the HomeBuyer's Report (you can obtain quotes for this service from Reallymoving!)
            reallymoving.com provides information on the HomeBuyer Report, previously known as the Homebuyers Survey and Valuation (HSV) and why it is recommended.


            • #7
              great work brian