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House value

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  • 18-01-2019 9:41am
    #1
    paddles
    Registered Users Posts: 440 ✭✭


    My house has been valued at X. I've noticed the same estate agent has another property in same estate priced 25k less. I'm trying to work out possible reasons for same before ringing about it. It's 20 sq metres smaller and does not have a third bathroom. It's kitchen diner is partitioned, mine is all one room. It looks grand inside but no worse than mine. Can't see how any of that makes it worth so much less. In fact it has things I don't have like a proper wall and gate, mine is open and a big shed at back far better than mine. Any thoughts? Thinking of getting another agent to value my house as well.


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    #2
    levi
    Registered Users Posts: 366 ✭✭levi


    paddles wrote: »
    My house has been valued at X. I've noticed the same estate agent has another property in same estate priced 25k less. I'm trying to work out possible reasons for same before ringing about it. It's 20 sq metres smaller and does not have a third bathroom. It's kitchen diner is partitioned, mine is all one room. It looks grand inside but no worse than mine. Can't see how any of that makes it worth so much less. In fact it has things I don't have like a proper wall and gate, mine is open and a big shed at back far better than mine. Any thoughts? Thinking of getting another agent to value my house as well.

    There’s a difference between asking price and valuation. Sometimes estate agents price low to get interest in a property and to spark a bidding war.

    When we were selling our house, estate agents advised an asking price but usually the price they expected to achieve was higher.

    I presume when you get a valuation, the estate agent is approximating the price that the house would achieve on the open market. Asking price is slightly different.


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    #3
    Sarn
    Registered Users Posts: 3,061 ✭✭✭Sarn


    As pointed out above, most likely to start a bidding war. In our estate last year one went up for asking well below what others had only recently sold for. It ended up going for over 10% more than the last sale two months previously.


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    #4
    paddles
    Registered Users Posts: 440 ✭✭paddles


    Sarn wrote: »
    As pointed out above, most likely to start a bidding war. In our estate last year one went up for asking well below what others had only recently sold for. It ended up going for over 10% more than the last sale two months previously.


    Okay thanks. It gave me a bit of a land cos I'm banking on what he's telling me it's worth.


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    #5
    zapper55
    Registered Users Posts: 684 ✭✭✭zapper55


    20m2 extra, a third bedroom and an open kitchen diner would make your house more valuable to me if I was buying. 25k? perhaps if there was bidding war.


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    #6
    spurious
    Moderators, Category Moderators, Education Moderators Posts: 27,131 CMod ✭✭✭✭spurious


    South/North facing?


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    #7
    Riskymove
    Registered Users Posts: 10,885 ✭✭✭✭Riskymove


    zapper55 wrote: »
    a third bedroom .

    Bathroom! big difference


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    #8
    Black_Knight
    Moderators Posts: 12,367 ✭✭✭✭Black_Knight


    paddles wrote: »
    My house has been valued at X. I've noticed the same estate agent has another property in same estate priced 25k less. I'm trying to work out possible reasons for same before ringing about it. It's 20 sq metres smaller and does not have a third bathroom. It's kitchen diner is partitioned, mine is all one room. It looks grand inside but no worse than mine. Can't see how any of that makes it worth so much less. In fact it has things I don't have like a proper wall and gate, mine is open and a big shed at back far better than mine. Any thoughts? Thinking of getting another agent to value my house as well.

    Have you not just answered it yourself? What's a 20sqm extension and a bathroom cost?


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    #9
    paddles
    Registered Users Posts: 440 ✭✭paddles


    zapper55 wrote: »
    20m2 extra, a third bedroom and an open kitchen diner would make your house more valuable to me if I was buying. 25k? perhaps if there was bidding war.

    Third bathroom not bedroom. They're both 4 bedrooms. My third is an under stairs toilet. Maybe the downstairs toilet is a big advantage even. If small.


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    #10
    paddles
    Registered Users Posts: 440 ✭✭paddles


    spurious wrote: »
    South/North facing?

    Mine is NW facing. I don't think the other specifies.


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    #11
    paddles
    Registered Users Posts: 440 ✭✭paddles


    Black_Knight wrote: »
    Have you not just answered it yourself? What's a 20sqm extension and a bathroom cost?

    Understairs toilet the third. I have no idea what that would cost. I guess when you talk about an extension cost, maybe.


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    #12
    mr_cochise
    Registered Users Posts: 174 ✭✭mr_cochise


    20sqm with average finish would be just under E24,000 according to homearchitect.ie, so the price difference is about right.


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    #13
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    The sale price depends on who bids on the house , who wants to live there ,the most important thing is the house is not priced too high .
    So as not to put off potential buyer,s
    The estate agent knows the area and what previous house,s were sold for , they dont have to be accurate to a 1000 euro.


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    #14
    eoghan104
    Registered Users Posts: 1,724 ✭✭✭eoghan104


    Also depends on if the house is worth 800k or 200k. 25k is a bigger difference for the 200k obviously.


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