What Is Your Property Worth?
Estate agents value property using several criteria:
- Location, location, and location are still the three most important considerations in property valuation!
- Selling prices of similar houses recently bought in the area.
- Condition of the property.
- The number of houses on market.
- The number of buyers looking to buy.
- Availability and cost of mortgages (affected by interest rates)
- Urgency of sale.
- WebEdge Valuation Tool – Propertynews.com own tool to help estate agents value properties using a unique algorithm.
Things you can do to increase the property value
There are several things you as a vendor can do to maximise the valuation price of your property. Ok, you can’t change the size or the location but the following are simple things you can do to increase the valuiation.
- Size: No, we don’t mean to build a DIY extension overnight. A potential buyer will be buying the bricks and mortar, not your personal belongings. De-clutter and neatly organise storage space. Strategically place lights in dark corners and even paint any dark rooms to give the aura of extra space, particularly if it is at a premium in your property.
- Clean: This may sound obvious but it is surprising how many people forget about this. Consider getting a professional cleaning in and you may be surprised at how clean your house could actually be.
- Unique Features: Think about why you initially fell in love with the place. Are these features in the same condition as when you moved in? If not, consider some effort and time to restoring these. Was it the gleaming white bathroom that is now grubby and mouldy? Would you have reconsidered purchasing if the bathroom was in its current state?
- Home interior: You may be wishing to move, but redecorating the property can be worth the time and effort if it increases the value and helps you sell quicker.
- Kerb appeal: The exterior of the property is the first thing a potential buyer sees. They may have made their decision against the property before even entering. You can’t alter the age of the property but presenting it in the best possible light will go a long way to making a good first impression.
Propertynews.com’s 5 top tips to help you sell
- Inviting touches: Consider some fresh flowers on viewing days to create a positive vibe. It’s all about the ambience.
- Pet peeves: You may love your pet but potential bidders may not. Keep your pets away from viewers and have the property well-ventilated to reduce the smell.
- A touch of paint: A touch of paint can re-invigorate a property. Consider a spring / summer palette to brighten up a room.
- De-clutter: You are selling the building, not its contents. Create a blank canvas and remove any non-essential furniture.
- The outdoors: Don’t neglect the outdoors. Potential buyers may love the garden space so keep it clean and tidy.