What Do Agents Look For When Valuing Property
16th September 2019 posted in Sellers
The importance of property valuation is huge if you are selling your house. There is an argument valuations are also important when you are not selling your home, but it is easy to see why values matter for vendors. You want to get the best price for your home, and you want to make sure agents value your home accordingly.
Therefore, knowing what agents look for when valuing property helps you create the best impression, hopefully helping you achieve a higher valuation. While many vendors are concerned about agents overvaluing a home, as this can make it harder to sell, obtaining a justifiably high value is another matter entirely, and one vendors should aspire to.
The following areas are all considered closely by agents when valuing homes, so if you can make improvements in these aspects, you should.
Creating a contemporary kitchen
Previously, the trend for vendors to improve their kitchen was to completely overhaul it, installing a new kitchen before selling. Thankfully, this is no longer a recommended strategy for homeowners looking to sell their home.
However, the kitchen remains one of the most important rooms in the house, and you must create a contemporary style in your kitchen. Add a few modern appliances and make sure the area is spacious and appealing.
You don’t need to spend considerable sums of money updating your kitchen, but if your kitchen looks tired or dated, it is best to bring it up to date with a few upgrades.
Space is critical in modern homes
It is a simple point, but the more space on offer, the more appealing a property is to vendors and buyers. Decluttering and cleaning should be your first task when preparing a home for sale, but also look for ways you can make the most of your current space.
If you need additional space before welcoming agents to value your home, consider placing items into an off-site storage solution.
Is there potential for modification?
Most agents take potential for modification into consideration. If there is an opportunity to add to or develop the property, it will likely increase the price. You should consider if planning permission is likely to be offered for improvements such as conservatories, and you should also look into whether there are restrictions on your home.
Houses in a conservation area or which are listed may look grand and hold history, but limitations on how they can be modified will reduce their appeal.
Can you add a bathroom?
There are many ways you can extend or improve your home, but not all these options are the sensible solution. One addition that is always in demand is another bathroom. If you can add a small and modern bathroom, even an en-suite facility, you’ll find many agents are happy to place a higher valuation on your property.
There are also external factors which influence the value of your home, so you can never fully shape what an agent thinks of your home. However, by following the above steps, you should find you can add value to your home.
If you’re looking to sell your home, or you are keen to book a valuation, contact Hunters Camberwell, and we’ll be more than happy to assist you.