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Your home is your most valuable asset, and while the market is in a good position, it could be tempting to place your own price tag on it and try your luck. However, the reality is that you can’t rely on guesswork when it comes to determining your home’s true value. Let’s explore why.

1.Your local market is separate from the wider market

While the UK average asking price can give you a rough idea of how the market is holding up, local factors are more significant to the true value of your home. Factors such as proximity to amenities, school catchment areas, local crime rates, and quality of transport links all hold weight in the overall value of the property.

2.You could set an unrealistic price

Setting an unrealistic price could be more detrimental to your sale than you might think. For starters, many buyers use online filters to find suitable properties. So, if you’re asking price is too high, your home won’t land on their search page.

Secondly, your home’s asking price should be competitive. If similar homes in your local area are asking for much less, they’re likely to secure a buyer before you do.

Lastly, overpricing your home takes away some of your power to negotiate. An outlandishly high asking price can put off potential buyers, leaving you having to settle for an inferior offer. You could also be at risk of ‘gazundering’ or down-valuing later in the process, where your options could be limited, and again, you might have to settle for a much lower offer than you hoped for.

3.You could sell yourself short

Conversely, even a well-informed guess could have you selling yourself short. Without expert insight, you may miss current local trends that have caused your home to spike in value. Underselling your home is another example of setting an unrealistic figure, leaving you in a poor position to negotiate with the buyer and could cause you to settle on a lower price than your home deserves.

4.You may not fully understand your true borrowing capacity

Accurate property valuations are important to most major banks and lenders, and your buyer will most likely have one carried out early into the sales process. Guessing your home’s value is risky business when it comes to securing your next mortgage, as overestimating can leave you in a tricky position once your buyer has their valuation carried out.

You’ll need clarity on your borrowing capacity from the get-go before you can apply for a loan, as this could save you a great deal of time and uncertainty when applying for your next mortgage deal.

5.Your home is unique

Market averages are important, but they aren’t everything. Unlike online assessments or guesses based on similar properties, an expert valuer will consider your home’s specific characteristics and overall condition before they settle on a figure. This includes things such as layout, repairs and renovations, building age, and anything that makes your home unique and enticing to today’s buyers.

Don’t wonder about your home’s worth - book a professional face-to-face valuation

Latest Properties

Horbury Road, Wakefield

£1,100 PCM

2    1    1   

UnfurnishedA deceptively spacious two double bedroom semi-detached bungalow having been recently decorated and carpeted with excellent transport links into Wakefield and surrounding areas on a main bus route as well as a short drive to the M1 motorway.

Thornes Road, Wakefield

£1,350 PCM

3    2    1   

UnfurnishedA deceptively spacious three bedroom property set over four levels having recently been re-decorated and with some new carpets and floor coverings with the added benefit of a converted basement.

Craig Hopson Avenue, Castleford

£350,000

4    2    1   

SUPERBLY PRESENTED throughout is this FOUR BEDROOM (main bedroom with en suite) detached property boasting off road parking and ATTRACTIVE gardens. VIEWING ESSENTIAL. EPC rating B83.

Serenity Close, Stanley,

£295,000

3    2    1   

A well presented semi detached home located on City Fields boasting THREE BEDROOMS (main with en suite), modern fitted kitchen open to the lounge/dining room, AMPLE off road parking and ENCLOSED rear garden. VIRTUAL TOUR AVAILABLE. EPC rating B86.

What Our Customers Say...

Joanne and Donna have been truly outstanding throughout my sale. I can’t thank either of them enough for the work they have put in. They’ve shouldered every bit of emotion and supported me beyond belief - I’m not sure this sale would have completed without them. I couldn’t recommend RK’s enough, and would like to recognise their professionalism, hard work, determination and attitude shown. Thank you to the team at Richard Kendall’s and thank you especially to both Joanne and Donna! Sam 15/07/2024
We were kept up to date on the progress of the sale of our property. Elizabeth Cooke was efficient and very helpful. Elizabeth was very friendly and always made you feel at ease. Lorraine 15/07/2024
Great experience from start to finish. Richard Kendal helped us to rent a house. It's been a first time experienced for us in the rental of a new place via Richard Kendall at a local branch at Horbury and Jessica Judd was very supportive, friendly, professional and polite throughout the whole process. Jessica is a real credit to her company and I would definitely use the services of Richard Kendal again in the future. Monica 15/07/2024
No problems at all nice smooth process from start to finish. Kept informed throughout. Amanda Dyson always on hand to help and advise. Dale 15/07/2024
Thank you to Alice and Francesca for sorting out our rental property. Without all your help, we would have really struggled. Alice answered all our questions and was so helpful. Thank you Claire 15/07/2024
Richard Kendal have been amazing during the whole process of me selling my house. Catherine ensured my valuation was booked in quickly to get the process moving along. My house went up on the market and was sold in the first couple of days. I can’t thank Catherine and Shireen enough for their support and updates throughout the whole sale! Would recommend! Tyler 15/07/2024
I cannot recommend agent Karen Marijewko at Richard Kendall Wakefield, highly enough for her outstanding professionalism and attention to detail throughout our property buying experience. From the initial viewing to the final signing, Karen demonstrated a deep understanding of the market and superb negotiation skills. Her dedication and commitment to finding us the perfect property did not go unnoticed. Thanks to Karen, we were able to secure the beautiful property at Western Road, Tingley, which we now call home. If you are looking for a knowledgeable and attentive estate agent, look no further than Karen Marijewko at Richard Kendall. Steven 15/07/2024
We sold two properties in Ossett, and the support and help we received from the Ossett office, and Lucy in particular, was fantastic. Both sales were problematic to some extent, one requiring a deed of variation, and the other one requiring additional documentation from the buyer and their solicitor. On multiple occasions, Lucy helped coordinate activities and actions across both sets of solicitors, and the buyer and seller, ensuring that the sales both went to completion. Without her involvement, at least one of the sales would have fallen through. The original marketing of the properties and guidance on asking price was done very professionally, and Richard Kendall’s support in allowing one of the buyers to rent out the property as the sale went through allowed us to accept a slightly lower asking price. I would happily recommend them, and would use them again for future purchases and sales. Andy 15/07/2024
First class service as always, we always use Richard Kendall & we wouldn’t use anyone else. Thank you to Helen who was brilliant & very efficient. Teresa 15/07/2024

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