It goes without saying that if you’re considering selling your home, you’ll want to get a price that both reflects its genuine value and allows you to move on to the next stage of your real estate adventure. Get your property properly evaluated by an expert like Sittingbourne estate agents to learn what that worth is. In this blog, we’ll cover what to anticipate from an estate agent’s valuation, how they arrive at their estimates, and what to look for when they inspect your house.
How can I receive a valuation for my property?
The process of determining your home’s value has never been simpler. The majority of agencies provide a free initial online valuation that can provide you with a good sense of what your property may be worth. These assessments are typically based on fundamental property details including the type of home, postcode, and the number of bedrooms. If you are looking for property valuation in Sittingbourne the best way to determine what your property would sell for on the open market is to obtain a full valuation report, which requires an agent to visit your home and do a thorough appraisal.
How much does it cost to value a home?
Your neighbourhood real estate agent ought to provide a free valuation and appraisal of your house, however, there are several situations where you might be charged for one, such as a valuation performed by a member of the Royal Institute of Chartered Surveyors (RICS) or a mortgage lender
What factors go into determining a home’s value?
When an estate agent values your house, a vast array of criteria are taken into account, from its location and condition to its potential for growth and how it stacks up against other properties in the neighbourhood. When doing an assessment and valuation, your agent will gather as much information as possible about your home, so be ready with questions on:
– Your windows and the date of their most recent replacement
– Your boiler’s age and servicing history
– Your property’s ownership and whether it is freehold or leasehold
– The property’s structure and whether it has ever had any problems
While determining the value of your home, your estate agent will also consider these seven crucial factors:
Kerb of your home
Kerb appeal is the aesthetic appeal of your property as seen from the street. Since buyers are said to make decisions about a home in a matter of seconds, the exterior of your home will have a significant influence on how an estate agent values it. It is possible to increase your property’s kerb appeal without spending a lot of money.
How well-maintained is your property is
The eyes are an estate agent’s most valuable tool, thus a significant portion of their assessment and appraisal will be spent examining the state of your property, both inside and out. The realtor will frequently take this into account when valuing your property if a buyer would have to spend money making significant changes. When compared to comparable properties without any concerns, your property may be valued substantially lower if it has damaged or poorly kept roof or moisture problems. The state of the walls and any wallpaper, the flooring, and how contemporary the décor is will all be taken into consideration by the realtor when determining the value of your home when it comes to the inside.
The location and size of your home’s lot
Your estate agent will take these factors into account when valuing your home because your postcode and property location can have a significant impact on the value of your property. Your home’s proximity to accessible transportation hubs like A-roads and train stations, as well as the school district it is located in, will all be taken into account when valuing your property. Your agent will also take into account the size of the land parcel that your property is located on as well as any environmental aspects, such as the likelihood of floods, that may have an impact on how much it is worth.
Asset type
Your realtor will take into account the local market’s demand for particular types of property when determining the value of your house. Large-family homes may be more in demand by buyers in some locations, while flats and apartments may be in great demand in others. While determining its value, your realtor will also take into account the age and style of your house. Where you live, for instance, Victorian homes might be in high demand, or if most buyers are young families, more modern properties or new constructions might fetch a higher price.
Rooms, organisation, and outside area
While your home’s total square footage will factor into its appraisal, the worth of UK properties is frequently determined by the quantity of bedrooms and living spaces. Even though it has more total square footage than a four or five-bedroom house, a spacious three-bedroom house, for instance, might not be valued as much. Your property’s layout will also be taken into account by your valuation agent, along with how it compares to the preferences of nearby buyers. As compared to an open-plan, large layout in a nearby comparable property, a home with a small, unusual layout could be valued very differently. Your estate agent will also consider outdoor space. For instance, if a large family is your potential buyer but your garden is small in comparison to the rest of your house, this could lower the value of your home.
Comparable property sales prices
Your estate agent will use sold price information and the condition of other comparable properties in the neighbourhood as a guide to determine the value of your home. This will enable them to evaluate how your home stacks up against others that have recently sold. Your realtor may also investigate unsold houses that are currently on the market, taking into account the asking price and the level of interest from prospective purchasers.
Possibilities for advancement and improvements
Some of the finest ways to increase the value of your house include upgrades and the addition of more room. Extensions, loft conversions, and wall removal to create an open floor plan are excellent methods to differentiate your house from nearby properties and draw serious purchasers. Your realtor will look at any work you’ve already done and take into account how this affects how much your property is worth when valuing your home. The agent will also ask to view any documentation pertaining to work you’ve done, checking that any applicable planning regulations have been followed and attesting to the quality of the job.
