So, after much consideration, you have decided to sell your house? If that is the case, a property valuation is one of the first steps to take once the major decision has been made. It is an estimate of the property’s worth in the current market in that particular location. If it is in the East Midlands area, the Chesterfield Letting Agents can help in arranging a valuation of the property.
We give below 7 tips when preparing for your property valuation:
Research: It is wise to investigate and see how much similar properties in your area have sold for in the recent past. Quoting from one authority, “House prices fluctuate often, so the more recent the sale has been, the more accurate the estimate will be.” These details will provide a base for the value and for setting a sale price for your property. You can arrange a free online valuation, but it will not be as detailed as a physical evaluation. It is advisable that you get at least 3 valuations done, to compare details. The highest valuation given by a surveyor may not necessarily be the best and may result in difficulty in selling the property later on.
First impressions: These do count and although an expert valuer will be able to notice the potential of a property, making the place presentable by cleaning up and removing clutter does make a difference. A neat and tidy house can not only make the rooms more spacious but gives a better first impression too. Moving some bits of furniture around can create additional space. Adding a mirror to a small room can help to make it look larger. Clean and hygienic bathrooms and kitchen add to the value. Kerb appeal is important too, so if there is outdoor space and a garden, make sure it is tidied, hedges trimmed, fences painted and the lawn mowed.
Natural light: This is another important feature which is mentioned on many property listings. Try to increase the natural light by opening all curtains and blinds. See that nothing is preventing the natural light from coming in from the windows. An airy and bright interior will add value.
Repairs: Ensure that all major repairs have been carried out and that the house is in good condition. Minor repairs are also important – although they may not decrease the value of the property, if small repair work is also completed, the surveyor knows that no renovations will be needed by the new owner which, in fact, will increase the property’s worth. If the house needs painting, choose a pale, neutral colour which will add light and make the room appear more spacious as well.
Access: A valuer will need to see every room, so ensure that access is speedy, by keeping keys to locked rooms, the loft, garage etc readily available. If the property has any “hidden features” be sure to point them out to the valuer, including recent renovation work and the cost of the same. However, since a professional valuer can determine the property’s worth, be honest and try not to exaggerate these details.
Documentation: Ensure that all the relevant documents are up-to-date and easily accessible. Having the planning permission, EPC and other building documents ready not only shows that you have complied with the regulations but it can also be an incentive to a buyer. Sending a copy of the documentation to the valuer in advance can save time. Some valuers request Rates Notices or other such documents, so it is wise to keep them ready.
House name or door number: Strangely enough, research has shown that properties with names (mainly regal ones) are usually higher valued than those with numbers. With just a change of name, the price of the property could rise! According to onthemarket.com, up to £30,000 can be added onto the price of a property with a simple name change. Also, with door numbers, odd numbers seem to increase the rate of a property – strange as it may seem.
Conclusion: The importance of a property valuation cannot be denied. It is sometimes wise to discuss with the agent your reasons for selling, as it helps them with the pricing of the property. If you are in a hurry to sell, then the price needs to be set where it will draw prospective buyers in the shortest time. Of course, a property is worth what a buyer is willing to pay for it, but the more detailed the valuation, the better chance of a higher price.