When considering selling your property, ensuring you secure a price that reflects its actual worth is a top priority to progress in your property journey. Achieving this involves obtaining a professional evaluation of your property by an estate agent.
In this comprehensive guide, we'll delve into what to anticipate during an estate agent's valuation, their valuation methods, and the aspects they'll scrutinize while assessing your home.
How Can I Get a Property Valuation?
Obtaining a property valuation is now more accessible than ever. Most agents offer a free initial online valuation, providing a preliminary estimate based on fundamental property details such as type, postcode, and bedrooms.
For a comprehensive and accurate assessment reflecting the market value, engaging an agent for an in-person valuation and appraisal is recommended.
Costs Associated with House Valuations:
Generally, your local estate agent provides a complimentary valuation. However, instances where charges might apply include valuations conducted by Royal Institute of Chartered Surveyors (RICS) valuers or those required by mortgage lenders.
Key Factors in Property Valuation:
Numerous factors impact an estate agent's valuation of your property, ranging from its location, condition, development potential, to comparative analysis with neighboring homes.
Agents gather comprehensive information about your property during the appraisal, focusing on:
Window conditions and replacement history
Boiler age and maintenance records
Property ownership status (leasehold/freehold)
Structural integrity and past issues
Furthermore, agents assess seven critical elements when valuing your property:
Kerb Appeal
The initial impression your property casts from the street greatly influences an estate agent's evaluation. Enhancing the visual appeal without extensive expenses is achievable:
Refurbish or replace the front door
Clean driveways and pathways
Paint or varnish front fences and gates
Maintain a neat front lawn
Clear away debris and enhance external lighting
Property Condition:
An agent's evaluation heavily relies on assessing your property's condition inside and out. Major improvements or issues could significantly impact valuation. Interior assessment includes walls, wallpaper, flooring, and modernity of decor.
Improvement Tips for Decor:
Apply neutral paint to walls
Replace worn or damaged flooring
Freshen skirting boards with white paint
Address peeling or discoloured wallpaper
Declutter and optimise storage space
Virtual Staging
Another Fantastic option to explore when looking at maximising your homes value, especially if you are purchasing a new build property without furniture is Virtual Staging. Virtual staging can enhance your property's value by digitally furnishing and decorating empty spaces, allowing potential tenants to envision themselves living in the property. This innovative approach highlights key features and functionality, making listings more attractive and ultimately leading to higher selling and letting values.
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