One thing many people don’t know is that chartered surveyors are professionally trained in property valuation and will consider the structure, quality and costs involved in improving the property. They will give you an accurate and unbiased valuation.
Your home’s value will be determined by its amount of usable space. A bigger house will can have a positive impact on its valuation. Whilst cellars and garages all add to the usable space, the number of bathrooms and bedrooms that a house has will significantly increase the value.
Where is your house located? Is the house in the catchment of in-demand schools? Near the city centre? Close to local amenities? These are some of the things a potential acquirer will be thing about, so location is key.
Important location factors that affect the property value are:
• Leisure and recreational facilities
• Transport and road links
• Water and green open spaces
• Shopping centres and restaurants
• Availability of employment opportunities
• Crime rate
Maintenance neglect such as leaky plumbing, signs of damp or missing roof tiles not only give a poor presentation of your property but will also reduce its value. Cheap renovations will also cost you dearly.
Newer homes typically have a higher value. This can be explained by the fact that critical parts of the house such as electrical, plumbing and roofing are newer and therefore less likely to break.
Outdated features can negatively impact your home’s value especially when it’s the bathroom or kitchen. An update or upgrade will considerably increase the price of the property. Don’t underestimate the effect of curb appeal either. An outside full of overgrown trees, bushes and weeds are off-putting. First impressions count.
Buyers are often looking for ways to put their own stamp on a property and make further improvements. The potential to extend or add an extra storey will attract more buyers and increase the home’s value.
Sometimes you can increase the property value simply by applying for planning permission. It lets buyers know there’s potential to carry out work on the property
• Supply and demand of houses
• Parking space
• Road noise and traffic pollution
• Energy efficiency
• Improvements without permission
• Threat of flooding
• Faster broadband
• Storage space
As you can see there are a lot of different factors you need to be mindful of. Not only influencing the value of your house, but if you should even be selling it at all. Taking into account all the above you should be able to avoid common mistakes when selling your house and ensure you get the best price in the best market conditions possible.
If you’re looking for a reputable and experienced Chartered Surveyor in Essex or the surrounding areas, Bates PS can help. Our market knowledge and award-winning pro-active service are recognised by commercial property occupiers, landlords, developers and investors.