A surveyor determines the value of your home by combining market evidence (what similar homes have sold for) with a professional assessment of how your property compares, taking account of condition, location, saleability, and any legal or tenure factors. It’s a structured process designed to produce a value that is realistic, defensible, and tied to a specific valuation date—not a guess and not a marketing figure.
Below is a detailed breakdown of how the process typically works, what the surveyor is looking at, and why two homes that look similar can end up with different values.
1) First step: confirm what “value” means for your situation
A surveyor doesn’t start with a number—they start with the brief. This matters because value can mean different things depending on purpose.
The surveyor will confirm:
A) The purpose of the valuation
Common examples include:
- sale/purchase guidance
- remortgage or financial planning
- probate / Inheritance Tax (value at date of death)
- divorce / separation (current or past-date value)
- Capital Gains Tax or other tax events (often retrospective dates)
- shared ownership staircasing/sale
- Help to Buy equity loan redemption
- buyouts and transfers between parties
B) The valuation date
Values change over time, so every valuation is tied to a date:
- today’s date for current market value, or
- a specific historic date for retrospective valuations
C) The basis of value
Most commonly, it’s “open market value” style. But the correct basis must match the purpose (for example, insurance reinstatement is not market value).
2) The surveyor gathers key property information
A surveyor needs to understand what they’re valuing, in detail.
A) Property characteristics
- property type (flat, terrace, semi, detached, conversion)
- accommodation and layout (bedrooms, bathrooms, reception rooms)
- approximate floor area (where relevant/available)
- outside space (garden, balcony, terrace)
- parking (allocated, driveway, permit, none)
- storage, outbuildings, additional features
- floor level and lift access (for flats)
B) Location and micro-location
In many markets (especially London), micro-location can shift value:
- street quality and noise
- outlook (open aspect vs overlooking)
- walkability to transport
- school catchments
- parking pressure
- nearby uses (shops, nightlife, industrial, main roads)
C) Tenure and legal factors
These are particularly important for flats:
- freehold vs leasehold vs share of freehold
- lease length (unexpired term)
- service charge and what it covers
- ground rent and review terms (if applicable)
- major works risk and reserve funds
- restrictions (subletting, pets, alterations)
These can materially affect buyer demand and mortgage availability—so they affect value.
3) Inspection: what the surveyor looks at during a visit
Where an inspection is part of the instruction, the surveyor will assess the things that influence price and saleability, such as:
A) Layout and usability
- room sizes and proportions
- flow of space (awkward layouts can reduce desirability)
- storage and practicality
- ceiling heights and natural light
B) Condition and specification
- overall maintenance level
- age/quality of kitchen and bathrooms
- windows and external envelope condition (as visible)
- obvious repairs needed (leaks, staining, damaged finishes)
C) Signs of defects (and how risk affects value)
Surveyors look for indicators such as:
- damp and mould (and possible causes)
- cracking that may suggest movement (or benign settlement)
- roof issues visible from ground level
- timber decay indicators
- ventilation/condensation issues
Even where the full cause isn’t confirmed, buyer behaviour is influenced by risk. A valuation reflects how buyers typically react to uncertainty.
D) External and communal areas
For houses:
- gutters, external walls, boundary condition, access, drainage smell indicators
For flats: - state of communal areas
- lift condition
- evidence of good/poor management
- general building maintenance standard
A flat can be pristine inside but discounted if the block is poorly maintained or service charges are high.
4) The core of valuation: comparable sales evidence
The “engine room” of most residential valuations is comparable sold prices.
A surveyor researches sales of similar properties and considers:
- how recent the sales are
- how close they are (micro-location matters)
- similarity of type and style (conversion vs purpose-built, terrace vs semi)
- size and accommodation
- condition level
- outside space and parking
- floor level and lift (flats)
- tenure and lease terms (flats)
Why sold prices matter most
Asking prices can be optimistic or strategic. Sold prices show what buyers actually paid after negotiation.
A good valuation typically relies on multiple comparables and weighs them—not just one sale.
5) Adjustments: how the surveyor compares “your home vs theirs”
Because no two homes are identical, surveyors adjust for differences. Typical adjustments relate to:
A) Size and accommodation
- floor area differences
- extra bedroom or bathroom
- usable loft conversion or extension
- layout efficiency (some “same size” homes feel bigger)
B) Condition
- modernised vs dated
- quality of finishes
- immediate repair needs
- presence of defects (and the risk premium buyers apply)
C) Outside space and parking
- garden depth and usability
- balcony/terrace quality (token vs genuinely usable)
- off-street parking or allocated space
D) Location nuances
- busy road vs quiet street
- outlook and privacy
- proximity to station/schools
- position within a development
E) Leasehold factors (if applicable)
- lease length differences
- service charge levels
- ground rent review patterns
- major works exposure
These can materially change value and mortgage buyer appetite.
The surveyor’s job is to reconcile the comparables and arrive at a figure that fits how buyers behave in that specific market.
6) Market conditions: the valuation is time-specific
Surveyors consider:
- supply and demand locally
- transaction volumes and buyer competition
- whether values are rising, flat, or softening
- how mortgage affordability is influencing buyer behaviour
For retrospective valuations (probate, tax, divorce at past date), the evidence is anchored around the historic valuation date.
7) Sense-checks and professional judgement
Surveyors often apply “sense checks” such as:
- £/sq m or £/sq ft benchmarks (as a check, not the only method)
- comparison across several evidence points
- whether the result fits the property’s “buyer bracket” locally
- realism about mortgage buyer behaviour (especially for flats with high costs)
This helps avoid a number that is mathematically neat but market-unrealistic.
8) The final report: assumptions and limitations matter
A professional valuation will set out:
- the valuation date and basis
- property description and inspection extent
- comparable evidence and reasoning
- the valuation conclusion
- key assumptions (e.g., lease details provided, unseen areas, compliance of alterations if not evidenced)
Transparent assumptions protect everyone, and they also help you understand what could change the conclusion if new information emerges.
9) Why your surveyor’s value may differ from an agent’s figure
Estate agents often give a market appraisal aimed at:
- setting an asking price and marketing strategy
Surveyors aim to provide:
- an evidence-based value figure that is defensible and consistent
In addition, surveyors may place greater weight on:
- defects and risk
- lease terms and running costs (flats)
- mortgage buyer constraints
- building management and major works exposure
The takeaway
A surveyor determines the value of your home by inspecting it (where instructed), analysing comparable sold evidence, and adjusting for the differences that buyers care about—condition, layout, location, and legal/tenure factors—while anchoring everything to the valuation date. The result is a realistic, evidence-led figure designed to be relied upon for your specific purpose.
Want a professional valuation of your home?
Email mail@howorth.uk or call 07794 400 212. Share your property type and location, what the valuation is for (sale, probate, divorce, tax, buyout, remortgage, etc.), and whether it’s freehold or leasehold. If it’s a flat, include the lease length and service charge if you know them—we’ll advise the most suitable valuation approach and what information will help produce a clear, defensible figure.