With various factors to take into account when valuing your home, its really pays to know what could be affecting your overall value.
With an insight into the property market and valuing homes of all standards, I am well aware of what can be affecting your property value and I’m here to let you in on some inside secret knowledge to boost the value of your home.
One of the main factors when valuing homes is the location in which your home is placed. If you are in good school catchment areas, located near public transport routes or in a desirable area, your home is bound to be valued more than a property in a poor area far away from any source of transport.
One example is the Nationwide report from 2014 that stating that “London homebuyers willing to pay a substantial premium to live near a tube or train station”. So what would they pay to live in your home that is close to a bus stop or local train station?
One of the most unusual factors can be the condition of your local drinking point. If your local choice for a beverage is noisy, rowdy and is open all hours, you can be putting off potential buyers from the moment they step on the street, let alone in your property. At the same time, a decent, well-stocked, sophisticated bar could be the ideal selling point for maybe a young couple or retired partnership. Finding the balance is the hard part here!
With location being the largest part of a home valuation, being aware of your surrounding location can seriously affect the selling process. Although you can’t change the location of your property, you can work on other factors to work well with the area you are based.
Another factor that can often fail to be mentioned in home selling procedures is the condition of your boiler. If your boiler is deemed as faulty, aged or un-modernised you could be potentially leading the new homeowner into unforeseen costs and problems in the future.
By replacing the boiler before you sell, you could drastically improve the energy ratings as well as be able to confirm the condition of the boiler as more than satisfactory for the new homeowners. Therefore, removing one area of a potential problem and creating another positive element at your property that can help towards finalising a property sale rather than hinder it.
Always check with an accredited plumber that the condition of your boiler is suitable for sale with the property before making changes that will incur costs.
Neighbours Can Change Opinions
Regardless of the size of the property, the location, the perks and other benefits, if your home has bad neighbours, you will struggle to sell. If neighbours are high in dispute and are off-putting to potential homebuyers, it can have an awful effect on the final value of your home.
It has been estimated that 1 in 5 homeowners are having problems with their neighbours. Whether the problems be arguments, noise levels, territory disputes or anything, those with nasty neighbours or neighbours from hell can take the hit on their home value.
If you have had any previous disputes with neighbours, you now have to let the potential homebuyers aware of the situation according to the 2008 Consumer Protection Against Unfair Trading Regulations. Your estate agent must disclose all information regarding the property to the potential buyers so there is no longer room to hide issues or future problems for the new homeowner.
Hidden Property Qualities
Other areas of your property that can affect the overall value include some frightening problems that you could be unaware of. These include:
- Structural errors
- Fungal decay
- Plumbing problems
- Age and condition of certain home equipment etc piping, electricity wiring, double glazing
In some cases, where a property is failing to sell, it can be simply because of the areas of the property that haven’t had any attention in the selling process. You can decorate all you want, add nice looking furniture and lower the price due to the location but if your property has ageing wiring, bad plumbing and poor glazing solutions, there is no way you can increase the price of your sale and more than likely you will have to lower it to compete on the current UK property market.
Buying a house is a long-term investment for anyone to make so they want to make sure they are making the right decision from the start. Simply be open, honest and upgrade your property as much as possible to keep the value in the figures that you are expecting to sell for.
Get in Touch
To find out more about home valuations and structural surveys at your property throughout the whole UK, simply give me a call today on 01983 731 198 or 07866 041 533 or alternatively email ‘firstname.lastname@example.org’ and I will get back in touch as soon as possible.