Whether you are planning to sell or simply interested in what your property might be worth, there are certain things you should consider when obtaining a valuation. Let’s take a look at the top five.
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1. Property description and size
When your property is being valued, the valuer, who might be a surveyor or estate agent, will prepare a detailed description of your property. This description will include the number of bedrooms and reception rooms, how much land the property has, the selling prices of similar properties, and any issues that might have come up in prior inspections. In addition, the valuer will measure all the rooms to determine the floor area of the property. A price per square foot can be applied as a starting point, with other factors then considered that might increase or decrease the valuation.
2. Property condition
A property that is in a good state of repair and with neutral décor is likely to be valued higher than a property that needs renovation or modernisation. This is because these types of work cost money and if the purchase price of the property is too high, completing these things will not add any value to the property.
3. Extensions
The more space your property has, the more it will be worth. Ensure that any work is complete before seeking a valuation and that you have all the necessary paperwork in place. When you come to sell and are looking to secure conveyancing solicitors Guildford conveyancers such as Sam Conveyancing will be happy to help you ensure that planning permission and other legal paperwork is in place.
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4. Local amenities
The local amenities will also affect the value of your property. If there are schools and transport links close by, this will push up the value of your property.
5. Parking
Parking is a big issue for buyers, with many putting off-road parking at the top of their priority list. A driveway can add between five and ten per cent to the value of your property.
Properties are valued individually, as they are all different, but consider these five things that might affect the valuation of your property. Whether you are looking to sell, re-mortgage or are simply just interested, being aware of what valuers look for means that you can be sure to draw their attention to the key aspects of your property.
