3 Reasons why Instant or Online Valuations aren't always accurate
Have you ever done an instant or online valuation and been disappointed by the results, here are 3 reasons why the valuation left you feeling disenchanted.
From Zoopla's online valuation to all of your high street estate agents, everyone and his wife seems to have an online instant valuation tool these days, but often they leave your with more questions than at the outset.
- They don't take into account and improvements or extensions that you have done. If you have fitted out a killer kitchen, a to die for bathroom or cracking conservatory the instant valuation can't see these. It works off of algorithms.
- It works on the basis of the average house price of what has sold on your street and if people like to live on your street and don't move very often this will effect the average on your street. The more sales on your street the more data available to predict what buyers would be prepared to pay for your home
- These online valuations cannot determine between different housing stock, so if your street has a mix of bungalows, semi-detached, terraced or detached houses this will through our the averages.
These tools are meant as a guide and for the reasons above they are limited in their ability to give you an accurate valuation of your home.
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