When Valuing your home what do you need to account for?
Many factors can affect how much your house is worth, some of which may surprise you. So, how do you accurately value your property? Find out in the following insightful information.
How much is your property worth?
More often than not, there will be various elements that can affect how much a potential buyer is willing to pay for your house. Homeowners are often unaware of these influencing factors. Structural components are common factors that can affect the price, but a professional surveyor will be able to evaluate any issues that are cause for concern. Structural problems can include low-quality construction, warped rooves, and poorly maintained windows. Other matters can concern utilities, which can consist of issues like incorrectly heated rooms, badly-maintained boilers, and out-of-date plumbing. Although these problems can be solved if you have enough money to fix them, other factors are outside your control; such as continual changes to the strength of the economy. Changes in government legislation and housing laws can force buyers to make lower-than-expected offers. Factors include high-interest rates that could affect the cost of monthly mortgage payments and political uncertainty regarding the future of the housing market. These factors can mean you spend a lot longer than you anticipated on finding a buyer. If you want to sell your house quickly, consult a professional surveyor or an estate agent valuation service.
How much have properties sold for on your street?
The value of your house can be heavily-affected by the price other properties have recently sold for on your street. However, there can be many differences between the size and luxuriousness of those other properties and your home. For instance, other houses could have conservatories, more efficient central heating, or structural changes. You can discover how much other houses on your street have sold for by consulting housing websites or the Land Registry. Once you find a home that is similar to your own, you will have a rough idea of how much buyers will be willing to pay for your property.
How do you get an accurate property valuation?
To get an accurate valuation, you need a chartered surveyor to look at your house. These professional surveyors will provide several surveys based on cost. That information can then be used to price your home correctly. Surveyors may carry out a drive-by valuation. That allows them to give a ballpark valuation that could change after further inspection. Alternatively, surveyors could provide a standard-valuation, which includes a higher level of detail. A homebuyers’ report is the most in-depth survey a surveyor can offer. That report may be more expensive, but it ensures there are no hidden problems that could significantly devalue your home if discovered. Know that many estate agents will value your home on your behalf. That can save you both time and money.
How can you add value to your property?
It can be surprisingly easy to add value to your house. For instance, estate agents, surveyors and prospective buyers’ first impressions often affect their perspective throughout the valuation process. It is therefore advisable to keep your house in showroom condition whenever someone related to a sale visits. Keep your home clean, maintain the upkeep of areas like a garden, and give external surfaces like window frames a fresh lick of paint or varnish. You can also increase the value of your house by:
- Adding an extension or a conservatory.
- Updating your interior decorations.
- Making internal changes, like removing non-supporting walls.
- Keeping neutral and classic decor allows buyers to see your home as their home so quirky colours may sometimes suit you but actually deter onward purchasers
- always make sure your property is mortgageable not only will this help you sell your home you really don’t want to lose the mortgage purchasers.
- We always find upgrading kitchens, bathrooms, & windows as a good starting point when considering an upgrade on a tight budget so we always concentrate on these over structural changes like through lounges etc.
If you follow the above suggestions, you can sell your home more quickly and maximise your profit. Interested to find out the value of your property? Why not call Sell-Fast for advice, as we buy any house. Call 0800 368 7399 or request a call back.