When you ask a surveyor to value a property, you are taking a step that is an integral part of the home-buying process. But this procedure, so intrinsically linked to house prices, can be confusing, so it is important that you, with Rightmove's help, grasp the various elements that surveyors take into account before setting a value.
When the surveyor carries out an inspection of the property you want to buy, he will look at numerous specific factors related to the state of the building. Following that, more general aspects come into play such as location and current demand. All these factors are then combined to produce a fair valuation.
As this valuation is then used to ascertain the level of mortgage you can obtain, it is essential you understand the contributory factors.


Property inspection specifics and the effect on house prices

Whether you are buying or selling a house, the valuer will usually look at the same specifics when judging a property, such as:

  • Age
  • Size
  • Wear and tear
  • Structural improvements
  • Fittings
  • Room layout
  • Electrics/heating
  • Extras (e.g. double glazing)
  • Storage space

The surveyor undertakes a detailed inspection, during which he assesses every room, including additional external structures - nothing is overlooked. He or she takes measurements and photos throughout the property to help him reach an eventual decision.
This valuation is then used by sellers as a basis for setting house prices, or by the potential buyer - i.e. you - when applying for a mortgage.



General factors that influence surveys - house prices

There are various other general factors that hold sway when it comes to surveys, including:

  • Desirability/appeal
  • Location
  • Demand

Consequently, when a surveyor puts together a valuation for you, he or she takes into account the house prices of recent sales in that area, as well as the general attractiveness of the neighbourhood.
Once you obtain the valuation, you are well on your way to acquiring a mortgage and the property you desire.



House prices articles