The true value of property

The content of this article is for information purposes only and should not be relied upon when making business or legal decisions. It is recommended you seek the help of appropriate professionals to assess your needs fully before making any decisions and/or making changes.

In dentistry, we often talk about cost versus value because one tends to scare patients and the other demonstrates to them why treatment is going to be beneficial. I’ve found that a similar concept exists in the world of property purchasing, although with more room for negotiation than in dental practice.

What’s it worth?

A lot of people make the mistake of thinking that the price quoted by an estate agent selling a property is representative of its true value. Actually, that is far from the truth. If you want a realistic idea of property values in a particular area, you’d be much better off looking at the price similar properties have sold for in recent months. As we know, demand ebbs and flows for all sorts of reasons, and the agreed, post-negotiation price will reflect that. You can do this easily on websites such as that of the Land Registry (see www.gov.uk/search-house-prices).