House Valuation?

[locini]

Does anyone know,

1) How much a house valuation costs?
2) The best place/people to do it?

Thanks in advance,

[neepnipper]

I think most estate agents will do a valuation free of charge.

[joxville]

I think most estate agents will do a valuation free of charge......

....but charge a fortune in commission. :(

[neepnipper]

Only if you decide to sell, you can have a valuation done for free and not put it on the market with the estate agent, you only pay commission when you sell your property with the agent, not for getting the valuation done.

[purplelady]

A valueation is free and like someone said you pay comission etc if you sell x

[locini]

i dont want a valuation for selling, just for insurance purposes.

Its a new build so i know what ive spent but dont have a clue what worth.

[Kevin Milkins]

i dont want a valuation for selling, just for insurance purposes.

Its a new build so i know what ive spent but dont have a clue what worth.


If it's a new build, then the cost of building it is what it is worth.

An insurance company would want that figure , because that is is it is insured for. (To rebuild it if it burned down), plus a contingency.

If you want to know the market value, then you would have to put it on the market, because what someone would be prepared to pay you for it is it's market value.

[tonkatojo]

If it's a new build, then the cost of building it is what it is worth.

An insurance company would want that figure , because that is is it is insured for. (To rebuild it if it burned down), plus a contingency.

If you want to know the market value, then you would have to put it on the market, because what someone would be prepared to pay you for it is it's market value.

The above is true but a home seller pack tends to put insurance at twice the market value, this I presume is for all the council cons, for planning,demolition, new build,furniture etc.

[Phill]

i dont want a valuation for selling, just for insurance purposes.

Its a new build so i know what ive spent but dont have a clue what worth.

If the insurer wants a value of the property it will generally be for rebuild costs, I'd go with what you've spent* and add 20%. And then adjust the figure again in 5 years (another 20% ish).
It won't affect the price of your policy much, if at all, unless your house is in the 7 figure region.

*make sure you factor in any work you have done yourself etc.
Over estimation on this figure won't do any harm.

[Katy]

When we built our house over 2yrs ago we got Pentarq out to value each stage for our mortgage company.

I am sure our mortgage company paid Pentarq to do it though but they might come out and do a vaulation? give them a phone see how much they charge.

Katy x

[stewart4364]

You would be wise to insure your house for approximately twice the build price, as of now, but in future years adjust the figure relative to inflation figures. What you must consider is the worst possibilty --- the house being totally damaged and having to be demolished. The house has to be completely demolished, the whole site cleared and then prepared for rebuilding. In the scale of things the cost of buildings insurance is relatively inexepensive in relation to the value of the property. It is the contents insurance which is the more expensive. The likelyhood of your house getting damaged is probably minute compared to the possibility of damage to the contents.

[achingale]

We used Pentarq directly when we took out our mortgage - Halifax slaps £100 on top for the privilege so doing it direct, when you know they are on their list, is much cheaper! If memory serves me correctly it cost roughly £250 for a valuation report. Hope this helps. ;)

[Scunner]

i dont want a valuation for selling, just for insurance purposes.

Its a new build so i know what ive spent but dont have a clue what worth.

If you try the insurance brokers, they will ask you number of bedrooms etc and then give you a quote. Never had house valued but always have had it insured. Hope this helps

[Phill]

Up here for a new build you wont go far wrong with calculating the floor area and then using £60 per Sq Ft to calculate the cost.

If your house is top spec' kitchen, bathroom, fittings & fixtures then you may need to add 25%.

[veritas]

i dont want a valuation for selling, just for insurance purposes.

Its a new build so i know what ive spent but dont have a clue what worth.

Try this link

[url]http://abi.bcis.co.uk/

[crofter]

Just had my new build valued by the Clydesdale Bank mortgage provider cost me £340. House valued at £35,000 more than the actual cost to build.

[Errogie]

The danger of undervalueing your house is that if there is partial damage from say fire and you have to replace 25% of the building the insurerers will only pay that proportion of the undervalued figure. This practice is referred to as operating the average clause.