Valuing your property is a very important and key part of the sales process. Valuing your property too high could scare off potential buyers and valuing too low could leave you out of pocket – so it’s important you get an accurate figure to set you off in the right direction.
The property market is more competitive than ever – if you’re new to this sales thing, our guide will help you understand how to get your home valued correctly, avoiding any inflated or inaccurate figures, as well as how to add value, so that you can get the most out of your sale. It may also be worth checkout out our previous blog about selling your first home.
Location
The location is a crucial factor when it comes to valuing your property. While it is not something that you can change, it’s a great way to gauge a figure: as expected, the more facilities in an area, the higher the property will be worth. For example, if you are in an urban area and are located within school catchment, close to local supermarkets, or near public transport, the value of your house will go up. Similarly, if you are in a more rural area which is not so close to daily amenities, but you have a pleasant outlook, it will up its value – if you are overlooking lots of green space areas or fields and your street is tree lined, it will appeal to lots of potential buyers.
Understand the current property market
It’s also important to understand the current property market to gauge how much your home could be worth. Looking at similar properties to yours in the area on websites such as Rightmove and Zoopla will allow you to get a rough estimate for your property and give you an idea of how accurate an agent’s valuation is.
First impressions count
In order to achieve an accurate valuation price, the agent (whether high street or online) will use several factors, first impressions being a big one. These are not only the first things those potential viewers will see when looking at your property, but also the initial things that agents will notice when valuing. Things like kerb side appeal: is the front of the house clean and tidy? Is there parking? Are the windows and doors clean and in good condition? These things aren’t always major and often are suggestion points for improvement but will definitely affect how your house is valued.
How to add value to a house
There are many ways you can add value to a house – it just depends on how far you are willing to go with making changes and, of course, your budget. However, sometimes it’s worth spending that little bit more money in order to boost the overall value of your home. Selling is not always a cheap process, so why not read our cost of selling a home blog to work out how much you’ll be able budget for home improvements.
Making substantial changes such as adding an extension or loft conversion can massively increase the value of your home as it allows for more bedroom and living space, which will appeal to potential buyers in the future, but this isn’t a quick and affordable process and will take lots of consideration.
Maybe consider tidying up your garden – if it is too cluttered and overgrown, it may put off potential buyers. A garden is often a very appealing factor when it comes to valuing a property and not every buyer is willing to do the hard work of grooming it when they move in, so if you have the opportunity to do so before you sell up, it could benefit you financially.
In the meantime, there are some more affordable ways to add value to your property:
How to add value to a house on a budget
There are some minor changes you can make to your property which will cost less and add more value. This can be anything from:
- Cleaning the front door and windows
- Sweeping any clutter or mess from the driveway
- Tidying the garden
- Repainting any old or chipped walls/skirting boards.
It all comes back to these first impressions, making your home appealing from the get-go will instantly boost its value. It’s also these slight changes that will make any potential buyer’s lives easier when moving into your home and simply boost the overall look and feel of it. For even more ideas about adding value to your house, check out our home improvements blog.
What brings down the value of a house in the UK?
On the other hand, there could be things that bring down the value of your home. It’s helpful to be aware of them so you know what to avoid doing when selling your home.
You may not have realised but there actually is such thing as over personalising a property – if you have renovated your home to be so uniquely suited to your taste, it may put off potential buyers who just want to move in without making changes. This is not to say don’t add your personal touch to a property, but bear in mind when you will want to sell it how it will affect the value.
Again, the kerb side appeal is everything, it takes on average 10 seconds for a potential buyer to decide whether they like a property, it’s no surprise that a messy exterior can devalue a home, so be sure when selling to keep it tidy.
Other things out of your control could devalue your house as well, such as location and bad school ratings, but there is not much you can do about these, so just ensure everything else is done in your power to keep the value of your house up.
In summary
To summarise, valuing your home is a crucial step when selling – it’s important to carry out existing market research to gauge a rough idea of how much your property is worth before getting a few agents to value it and deciding on a figure that is not too low but also not suspiciously high.
Overall, if you want to get the most out of your valuation, keeping your property in good and decluttered condition will go in your favour and having a good kerbside appeal will reap its rewards!
Ready to sell your home or just intrigued by how much your property is worth? Book a free valuation with us now.
