The importance of property valuation for property buyers and sellers cannot be overemphasised. Valuation is the bedrock upon which the price of your property is determined. Therefore, it is important to ensure that a professional house valuer does your property valuation.
Generally, a house valuer will give arrive at the price of property after taking a number of factors into consideration. As such, you can influence the value of your property by taking into consideration a number of factors. Here are some effective and useful property valuation tips to consider:
- Ensure the property is in good condition – The face value of your property determines to a large extent whether your house will have a high value or not. First impressions count a great deal. Therefore, make sure your property is in a good condition. No buyer would be interested in investing in property that has been run down and stripped of its aesthetic value.
- Consider the space available – Most buyers are attracted to property that is spacious. Thus, you will do well to take time to ensure that your create space so that the buyer can see the property from the perspective of their need for space. Ultimately, space is a major contributor to the value of property. Thus, the more space your property offers both indoors and outdoors, the more it will fetch on the property market.
- Remember the value of improvements – If you have made any significant improvements to the property, be sure to let have it considered during valuation. This way, the cost of the improvements can be factored in to the overall value of the property.
- Pay attention to the kitchen and bathroom – Although the number of bedrooms can significantly affect the value of your property, most prospective buyers are interested in the kitchen and bathroom. For instance, if the house has two floors, then it should at least have three to four bathrooms and two kitchens. If the property does not offer this then chances are the value will decrease.
- Consider both outdoors and indoors – While most property owners pay attention to the interior of the property, it is paramount that the exterior be equally seen as being important. This is because they both influence the overall value of your property. Thus, invest in creating an amazing kerb appeal while also being sure to fix any broken fixtures, create space and tidy up the interior.
- Have a flexible margin – many times, property owners forget to take into account the margin for haggling. The truth is that the buyer determines the value of your property. Therefore, you need to have a flexible margin to accommodate the difference deducted from the initial amount as a result of haggling. Remember, not all property is sold for the price that is initially put out by the owner.
Property valuation serves as an indicator of the much you should expect to sell your property for to prospective buyers. Even then, the ultimate value is what the property will be sold for. Therefore, you will do well to consider all the important factors to ensure you do not sell your investment at a loss.