How to value a property? · Make Money In UK Property

How to value a property?

Ok, I need a definitive answer on this.

anyone else too, help me out.

We know when trying to work out the GDV or the value of a property that we need to find sold comparables. These are properties that:

Are of the same type (so if it’s a mid terrace, compare with other mid-terraces)
Have the same or similar square footage
Have the same number of bedrooms
Is located on the same street or within 1/4 mile
Was sold within the last 12 months

Now as we know, it’s not always possible to find comparable properties that tick all these boxes.

So let’s say we can find a comparable property that ticks all the boxes above, but it last sold in 2023 for £100k.

How would you calculate your GDV? Are you just adding a percentage to the 2023 sold price to account for capital growth? Are you just plucking a number out of the air?

How do you come to a final figure to use for your calculations?

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How to value a property?