With selling a home we all want to know the big question and that’s how much you will make off your old property. We’re here to help give you the knowledge and expertise on how to calculate your property’s worth.
What Factors are considered when Getting Valued?
The value of your property is greatly affected by its condition. For instance, if your house is neat, organized, and properly taken care of, with attractive features that appeal to everyone, its value will most likely be much higher compared to a property that requires extensive renovations.
If you’re considering selling your house or just curious about its value, getting a property valuation is a smart move. It gives you a clear picture of where you stand in the market and provides an accurate estimate of its value.
Before a property is listed for sale, a professional valuer conducts a formal valuation. This is important for mortgage lenders as it helps them determine if the market value is sufficient security for the loan amount.
What can Affect a House Valuation?
The value of a property is determined by the gap between what a buyer is willing to pay and what the seller is willing to accept. Evaluating the worth of a property is a complicated task that involves considering multiple factors in order to establish its market value.
In this segment we will look at 5 key points that impact the value of a property.
- Location of the Property
- Size of the Property
- Condition of the Property
- Age of the Property
- Local Property Market
These points are the key terms to look at if you are trying to sell your home, these all add value to an existing property and is what possible buyers will look at depending on their budget. There are negative factors such as poor WiFi connection and cell service in the area, limited parking space for any vehicles you might own, lack of storage space for outdoor appliances.
If you or a friend are interested in selling your home, we offer a free online Valuation at Patch Property. If you would like to get in touch with a professional Valuer Click Here
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