What factors to consider when getting a property valuation

Getting your property valued is a requirement in several situations. The most common is when selling your home. Buyers also often need to get a valuation to satisfy the bank as to the mortgage value. There are a number of factors that affect the value of your home. Some you have control over and some you do not. So, here are some of the most common factors that affect a property valuation:

Location

This is about the most crucial factor there is. For example, the cost of a tiny one room bedsit in central London could buy you a castle in the remotest parts of Scotland. Unfortunately, there is not a huge amount you can do about the location apart from being more careful with your next home purchase!

Size

Generally, the bigger a property is, the more it is worth. Many people have made a lot of money by extending their properties with loft conversions, sun lounges, and garage conversions. If you have the time, and capital available, why not expand your property?

Age

The age of a property will have an enormous impact on the value of the home. Note however it is not as simple as “newer houses cost more”. For example, a well built, 100-year-old brick or stone home may in fact be worth a lot more than a post war home built using cheap materials. Expert Estate Agents Cirencester will provide the most accurate valuation for you.

Planning permission

A home with planning permission for an extension, or even another building will always be worth more than one without. In fact, many people apply for planning permission simply to increase the value of their home.

General tidiness and appearance

Human beings like to own nice looking things. If your home is shabby, dirty, or falling apart, it may put potential buyers off. Sometimes it is safer to strip the home completely and sell the idea of an empty shell.

Schools, Crime, and Neighbourhood

Related to the location, there are several socio-economic factors that can affect a property’s value. Being near a good school, having low crime rates, and a nice-looking neighbourhood are all factors that will attract potential buyers.

Supply and Demand

As with any commodity, the more availability of an item, the cheaper it will typically sell for. If all the houses on your street are for sale, expect buyers to haggle and negotiate more. If, however, you are the only one bed flat for sale within 10 miles, you may be in luck. While you cannot change these factors, the timing of your sale can make a significant difference. If it is a low period, and you have time to wait, speak to your valuer for advice on when to sell.

Final thoughts

Many factors affect the value of your home. To ensure you get the best, most accurate, valuation, always use a professional estate agent. If the valuation sounds too good to be true, it probably is. Make sure you are not being given an artificially high price just to win your business.

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website.

You May Also Enjoy

Breaking News

Freehold and Leasehold Reform Act-lessees can control their own destiny

Matthew Pennycock, Minister of State for Housing and Planning, has made a Parliamentary Statement regarding the future progress of the Freehold and Leasehold Reform Act 2024. The Government have formally recognised the “significant complexity of the task” and that the legislation was rushed in at the end of the last parliament and as a result…
Read More
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker 22/11/24

The current average asking price of a typical first-time buyer property is £225,340. For someone taking out an average five-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,104 per month if repaying over 25 years, compared with £1,138 per month a year ago (when the average first-time buyer property asking price was…
Read More
Estate Agent Talk

The Architecture Of Attention Behind Social Media Addiction

In the digital age, social media platforms have revolutionized how we connect, share, and consume information. Behind their sleek interfaces lies a sophisticated architecture of persuasive technology.  These platforms employ intricate design patterns and technical elements to capture and hold user attention. From subtle visual cues to complex algorithmic systems, every feature serves a calculated…
Read More
Breaking News

2025 Predictions for the Private Rental Sector

Allison Thompson, National Lettings Managing Director, Leaders Romans Group (LRG) “As we approach 2025, the lettings industry is entering a phase marked by stabilisation and opportunity. Rental inflation has slowed to an average of 3-4% for new lets, reflecting the effects of affordability constraints; renters’ budgets are beginning to limit how much rents can rise.…
Read More
Breaking News

Response to Matthew Pennycook’s Statement on Leasehold Reform

Yesterday, Secretary of State Matthew Pennycook made a Ministerial Statement on the future of leasehold reform. Responding, Mark Chick, director of ALEP and a Partner at Bishop & Sewell LLP said: ALEP welcomes the ministerial statement which puts in place a timeframe and some objectives for the implementation of the Leasehold & Freehold Reform Act.…
Read More
Estate Agent Talk

Essential Garage Storage Solutions for Small Spaces

Maximize your garage space with practical storage ideas that keep your items organized and accessible. If you’re dealing with a smaller garage, smart solutions can make a big difference in keeping your space neat and usable. 1.  Wall-Mounted Storage Wall-mounted storage is an excellent way to save space and keep your garage organized, especially in…
Read More