If you’re a new seller, you’ll very quickly hear the phrase “property valuation” or “house valuation” thrown around when you start the selling process. In this article, we’ll explain what a property valuation is, and how it’s decided by your estate agent.A property valuation is usually carried out by either an estate agent, or a professional in the housing market industry with experience in property valuations, that can give you an accurate idea of how much your home is worth on the current property market. Several factors can affect your property value, even something as small as the cleanliness of the property when it’s being valued.
The main criteria that makes up the value of a property includes the age of the property, its size, how many bedrooms it has, how many bathrooms, whether or not it has a garden, what the room layouts are like, and the general wear and tear of the property. If your home has any additional rooms, such as a basement, attic, cellar, or an extension, these are all taken into account in the final valuation of your property as well.
It’s vital for everyone to know the value of your property at all stages of its selling. You need to be aware, as does your estate agent, any potential buyers, and the sites that you’re marketing your property on. That price needs to always be up-to-date, no matter what.The location of your property can also have an affect on how much it’s worth. Your property will be compared to other, similar, properties in the same area, and past selling prices will be looked into if any of them have recently sold on the housing market. If you live in a desirable neighbourhood, or live close to transport links or other amenities, these points will also be considered.
When you decide to sell your house, an estate agent will send over someone to professionally value your property. Before they visit to complete their first checks, you should ensure that both the inside and outside of your property has been recently cleaned, and that your property looks as spacious as it can.
There are several ways to make your property seem more spacious, including taking down hangings from the walls, and tidying away personal affects. These may be homey touches in a property, but a valuation specialist needs to be able to see the potential of the house with as little influence from the current owners as possible. This potential needs to be shown off to possible buyers, rather than hidden away behind another person’s belongings. Selling a house can seem rather impersonal, but you have to remember that your property is going to become someone else’s home.
Once the valuer has looked around your property vvv, they’ll ask you about any new additions to the property, any renovations, and any damage that you’re aware of. They’ll then take all of this information to make an informed approximation of how much your property is worth on the current housing market and inform your estate agent of their decision. You can ask for a second valuation from a different agent.